Marine threats from human or natural agents such as terrorist, environmental destruction, illegal seaborne immigration, and international criminal and piracy threats have created more demand for regulated and standard maritime security systems. Therefore, the worldwide revenue of maritime market has crossed $12.55 billion in 2013, and expected to reach $20.87 billion in 2018. The worldwide market of maritime security is expected to grow at a CAGR of 8.4%.
Browse through the market data tables, figures and detailed ToC on the “Global Maritime Security Market.”
North America Maritime Security Market
United States government have increased their security measures after the 9/11 attack. The country also improved its maritime security since then, in order to develop the security at sea. Companies like Maersk, EADS, Safran, Finmeccanica SpA are helping countries to have secure international trade by water. Thus, the maritime security market is worth $3.6 billion in North America, and expected to be $4.7 billion in 2019. The calculated CAGR for period 2013-2019 is 4.4%.
Europe Maritime Security Market:
Many rules and regulations are implemented by the European government in order to improve the ship and port security facilities. Almost 90% of the European external freight trade is seaborne. The top companies like Finmeccanica SpA, EADS, Honeywell, Safran, and many other guarantees secure maritime transportation for these regions. Thus, the maritime security market is worth $3.24 billion in Europe, and expected to be $4.41 billion in 2019. The market is calculated to grow with a CAGR of 4.9%, for period 2013-2019.
Asia-Pacific Maritime Security Market
In spite of the economic slowdown, the Asia-Pacific region has registered a market of worth $2.8 billion in 2013, and is expected to continue its growth at a CAGR of 11.6% to hit $5.57 billion by 2019.There has been a massive growth in exports, which has led to the growth of the Asia-Pacific Maritime security market. Companies like EADS, Raytheon, Safran, Elbit Systems ltd. are helping the region to grow by minimizing piracy and maritime terrorism.
Latin America Maritime Security Market
Latin America maritime security market has been on a rising tide, as a massive scale of technological advancement is taking place in this region. Companies such as Elbit Systems ltd, Kongsberg Maritime, and many others are creating awareness about maritime security in this region. This has resulted in the maritime security market of Latin America to be worth $460 million, and is expected to reach $1.1 billion in 2019. The market is calculated to grow with a CAGR of 13.2%.
Middle East and Africa Maritime Security Market
Many countries of the Middle East and Africa are constructing new ports, and are also improving their securities and facilities. There has been a significant rise in demand for the oil and other commodities in international market since the last decade, which in turn led to the rise the demand for maritime security in this region. The Middle East and Africa Maritime security market has crossed $2.45 billion revenue in 2013, and is expected to reach $4.97 billion by 2019 growing at a CAGR of 12%. The top companies like BAE System, EADS, Raytheon, SaaB, Maersk, and others provide solutions which help minimize the risk of pirate attacks in this region.
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