Global Maritime Security Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2021.
Maritime Security Market – Market Overview
Maritime security agencies protect the nation from various threats such as smuggling, drug trafficking, piracy, human trafficking, and maritime terrorism. These agencies provide port facility and vessel security.
The increase in terrorism through sea routes such as the 2008 attack on Mumbai and the rise of piracy in Gulf of Aden have raised concerns regarding port security. This had also led to the modernization of weapons and equipment used by security agencies around the world.
The demand for various modern equipment in maritime security is increasing due to the increase in number of illegal immigrants around the world. This has resulted in an increased demand for automated systems such as EO detection systems, underwater acoustic weapon systems, electronic fence, MIRA Autonomous Control Equipment (MACE), and integrated security system. In addition, there has been significant growth in demand for small satellites that are used to monitor merchant ships. These provide images and videos from less than 3-16 feet. These are also cost effective and are used for deriving environmental data.
The growing defense budget across various nations has led to an increase in R&D investments as well as an increase in number of contracts for maritime security systems. Vendors are focusing on providing better surveillance systems, communication systems, upgraded weapons, stealth UUVs, sensors, and underwater contraband threats. The market has also witnessed the shift towards unmanned surface vessel (USVs), which are cost effective and fully autonomous.
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Maritime Security Market – Competitive Analysis
The global maritime security market is highly competitive. Vendors compete based on cost, quality, reliability, and aftermarket services. To survive and succeed in such an intensely competitive environment, it is crucial for the vendors to provide cost-effective and high-quality services.
Vendors have to focus on global footprint network, in house manufacturing capabilities, product offerings, investment in R&D, and a strong client base, to gain an edge over competitors. Global economic recovery, R&D, and investments by the vendors provide opportunities for defense industry players to compete and grow.
New strategies adopted by the aerospace industry to achieve greater efficiency and reduced costs are increasing OEM's dependence on tier 1 suppliers. Big players such as Boeing and Airbus focus more on integration and less on internal production capability. These vendors are working toward a business model, where they would need to work with fewer tier 1 suppliers and decreasing direct interactions with tier 2 and tier 3 suppliers.
The leading market players in the global Maritime Security market primarily include Boeing, Israel Aerospace Industries, Raytheon, Thales, Northrop Grumman, Lockheed Martin, GE Aviation, SpaceX and ViaSat.
Industry/ Innovation/ Related News:
October 23, 2017 - General Dynamics NASSCO hosted a christening and naming ceremony for the Navy’s newest Expeditionary Sea Base, the USNS Hershel “Woody” Williams (ESB 4). The ship’s namesake, Hershel Woodrow “Woody” Williams, spoke at the ceremony, and his two daughters, Travie Ross and Tracie Ross, officially named and christened the ship with the traditional break of a champagne bottle alongside the ship. Williams, a retired U. S. Marine, received the Medal of Honor for his actions in the Battle of Iwo Jima during World War II. He is the last surviving recipient of the Medal of Honor from that battle.
October 1, 2017:- Northrop Grumman Corporation will highlight its advanced global security capabilities at the Pacific International Maritime Exposition 2017, Oct. 3-5 in Sydney, Australia. Committed to assisting the fully-integrated joint Australian Defence Force, Northrop Grumman's portfolio of advanced maritime systems operates across the full spectrum of modern naval operations, including maritime domain awareness, C4ISR, resilient networked operations, broad area surveillance, unmanned aircraft systems for maritime and coastal surveillance, radar and mine detection systems, and precision marine navigation. In addition to product displays, company representatives and subject matter experts will be available to engage the media on these topics.
January 5, 2016:- General Dynamics NASSCO delivered three lead ships in 2015: USNS Lewis B. Puller, the Isla Bella and the Lone Star State. Each vessel represents three new and separate ship classes and highlights the diverse portfolio of commercial and government contracts for the San Diego-based shipbuilding company.