Maritime Safety System Market Research Report Information By Offering (Solutions, Services), Security Type (Port & Critical Infrastructure Security, Coastal Security, Vessel Security, Crew Security, Cargoes and containers Safety, Ship system and equipment (SSE) Safety, and Other Security Types), System (Ship Security Reporting System, Automatic Identification System (AIS), Global Maritime, Distress Safety System (GMDSS), Long Range Tracking and Identification (LRIT) System, Vessel Monitoring and Management System, and Other Systems) –Market

Maritime Safety System Market Overview

The Maritime Safety System Market size is projected to grow from USD 33.7 billion in 2024 to USD 57.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2024 - 2032). Additionally, the market size for Maritime Safety System was valued at USD 31.5 billion in 2023.

The rising investment in research and development (R&D), a growing emphasis on maritime security, and a surge in international seaborne trade are expected to be significant market drivers for the Maritime Safety System Market.

Figure1: Maritime Safety System Market, 2018 - 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Maritime Safety System Market Trends

The rising need to manage complex supply chain operations and increase sustainability across the marine industry is driving market growth.

Market CAGR for Maritime Safety Systems is driven by the rising need to manage complex supply chain operations and increase sustainability across the marine industry, Booming Maritime Trade, and Stringent Regulations. The marine industry navigates through dynamic market conditions and intricate operational processes. In 2022, the US marine economy contributed $476 billion in economic impact, equivalent to nearly 2% of the nation's gross domestic product (GDP). This sector generated $777 billion in sales and supported 2.4 million jobs. MESA offers valuable insights into how the marine sector bolsters the national economy. There is a growing momentum within the industry to adopt digital technologies in shipping logistics, aiming to streamline operations, enhance fleet management, and capitalize on global growth opportunities. As global supply chains expand and become more complex to meet increasing consumer demands, the environmental footprint also grows. To stay competitive, marine industries must innovate their supply chain management, optimize productivity, and integrate maritime safety systems with advanced technologies. This integration enables the digital organization of inventory data, real-time monitoring of shipping and tracking information, and streamlined electronic invoicing processes.

Maritime routes are essential for global trade and freight, handling a significant portion of U.S. international trade. Maritime vessels alone account for 40% of the value and nearly 70% of the weight of U.S. trade in goods, contributing to 18% of the GDP in 2020. Waterborne shipping in the same year transported more tonnage (nearly 1.5 billion short tons) and had a higher trade value (over $1.5 trillion) than any other mode of transportation in the U.S. Given these critical roles, there is a heightened need for enhanced safety measures to safeguard cargo, vessels, and personnel. Regulatory bodies such as the International Maritime Organization (IMO) and national authorities are responding with stricter safety standards, prompting ship owners and operators to invest in compliant maritime safety systems. This growing demand is driving the adoption of advanced solutions that offer features like collision avoidance, route optimization, and real-time monitoring.

As a result, it is anticipated that throughout the projection period, demand for the Maritime Safety System Market will increase due to the rising need to manage complex supply chain operations and increase sustainability across the marine industry, Booming Maritime Trade, and Stringent Regulations. Thus, driving the revenue of the Maritime Safety System Market.

Maritime Safety System Market Segment Insights

Maritime Safety System Market Offering Insights

The Maritime Safety System Market segmentation, based on Offering, includes Solutions and Services. The Services segment dominated the market, accounting for 58% of market revenue. Maritime safety systems encompass a broad range of technologies, including vessel tracking, navigation systems, communication equipment, and emergency response systems. These systems are intricate and demand ongoing maintenance, updates, and customization to guarantee peak performance and compliance with regulations. Service providers offer specialized expertise in integrating, maintaining, and upgrading these systems, playing a crucial role in ensuring seamless maritime operations.

Figure 2: Maritime Safety System Market, by Offering, 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Maritime Safety System Market Security Type Insights

The Maritime Safety System Market segmentation, based on Security Type, includes Port & Critical Infrastructure Security, Coastal Security, Vessel Security, Crew Security, cargo and containers Safety, Ship system and equipment (SSE) Safety, and Other Security Types. The Port & Critical infrastructure Security segment dominated the market, accounting for 58% of market revenue. International regulations and standards, such as the International Ship and Port Facility Security (ISPS) Code established by the International Maritime Organization (IMO), mandate stringent security protocols for ports and shipping facilities worldwide. Compliance with these regulations necessitates the deployment of advanced maritime safety systems capable of monitoring and safeguarding critical infrastructure against security threats. Service providers specializing in port security offer consulting, auditing, and implementation services to ensure adherence to these regulatory frameworks.

Maritime Safety System Market System Insights

The Maritime Safety System Market segmentation, based on System, includes Ship Security Reporting System, Automatic Identification System (AIS), Global Maritime, Distress Safety System (GMDSS), Long Range Tracking and Identification (LRIT) System, Vessel Monitoring and Management System, and Other Systems. The Ship Security Reporting System segment dominated the market, accounting for 60% of market revenue. The Ship Security Reporting System (SSRS) improves maritime security by enabling ships to promptly report security incidents, suspicious activities, and threats as they occur. These systems include protocols for communicating with maritime authorities, port facilities, and other vessels to swiftly coordinate responses to security events. The capability to report incidents promptly aids in early detection, mitigation, and prevention of security breaches, thereby ensuring the safety of ships, crews, cargoes, and ports.

Maritime Safety System Market Application Insights

The Maritime Safety System Market segmentation, based on Application, includes Loss prevention &detection, Security & Safety Management, Counter piracy, Monitoring & Tracking, Environment Protection, Search & Rescue, Communication Management, and Other Applications. The Monitoring & Tracking segment dominated the market, accounting for 60% of market revenue. Monitoring & Tracking systems play a crucial role in enhancing the safety and security of vessels, crew members, and cargoes. These systems utilize technologies such as GPS (Global Positioning System), AIS (Automatic Identification System), radar, and satellite communication to track vessel movements in real-time. They provide continuous monitoring of vessel locations, routes, speeds, and operational statuses, enabling timely intervention in emergencies, piracy incidents, or unauthorized movements.

Maritime Safety System Market End User Insights

The Maritime Safety System Market segmentation, based on End User, includes Government & Defense, Marine & Construction, Oil & Gas, and Shipping & Transportation (Shipping Companies, Ship Crews, Passengers & Cargo Owners). The Marine & Construction segment dominated the market, accounting for 60% of market revenue. The maritime sector is heavily regulated to ensure safety and environmental sustainability. International maritime regulations such as the International Convention for the Safety of Life at Sea (SOLAS) and the International Maritime Organization (IMO) standards mandate the implementation of safety systems on ships and maritime constructions. These regulations stipulate requirements for fire detection and suppression systems, life-saving equipment, navigation aids, and structural integrity monitoring systems. Compliance with these regulations drives the demand for advanced maritime safety systems within the Marine & Construction segment.

Maritime Safety System Market Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The anticipated expansion of the Maritime Safety System market in North America can be attributed to several key factors. The North American economy is expanding as the US government actively defends against threats such as illegal trafficking, insurgency, piracy, and cyber-attacks. Additionally, Canada plays a pivotal role as a significant maritime nation, which is essential for its economic growth. Canadian government policies emphasize the oversight, regulation, and security of the maritime industry, which are expected to bolster growth in the marine protection sector within the region.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.

Figure 3: Maritime Safety System Market Share By Region 2023 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Maritime Safety System Market accounts for the second-largest market share, and Europe's strategic geographic positioning as a gateway linking major global markets such as North America, Asia-Pacific, and Africa underscores its pivotal role in global maritime trade and transportation networks. EU ports handled a substantial 3.5 billion tonnes of freight in 2022. The Netherlands retained its status as Europe's largest maritime freight transport country during the same year. Rotterdam, Antwerp, and Hamburg maintained their positions as the top three ports in Europe. Vessels calling at the main EU ports averaged an estimated size of 7,300 gross tonnes per vessel. The region's extensive connectivity and logistical infrastructure support efficient maritime operations and logistics chains, bolstered by robust safety and security measures. Further, the German Maritime Safety System Market held the largest market share, and the UK Maritime Safety System Market was the fastest-growing market in the European region.

The Asia-Pacific Maritime Safety System Market is expected to grow at the fastest CAGR from 2024 to 2032. The Asia Pacific region holds a strategic position as a crucial transit route connecting major global markets such as Europe, North America, and the Middle East. With its extensive coastline, numerous ports, and strategic maritime chokepoints like the Malacca Strait, the region plays a vital role in international shipping and maritime logistics. This geographical advantage underscores the importance of effective maritime safety systems to mitigate risks from congested waterways, piracy, natural disasters, and environmental hazards. India, strategically located on major global shipping routes, boasts a coastline stretching approximately 7,517 kilometers. As of 2021, India commands more than 30% of the global market share in the ship-breaking industry and hosts the world's largest ship-breaking facility in Alang. The Maritime India Vision 2030, launched by the Honorable Prime Minister of India in March 2021, outlines over 150 initiatives aimed at revitalizing and enhancing the Indian maritime sector. Moreover, China’s Maritime Safety System Market held the largest market share, and the Indian Maritime Safety System Market was the fastest-growing market in the Asia-Pacific region.

Maritime Safety System Market Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Maritime Safety System market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Maritime Safety System industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Maritime Safety System industry to benefit clients and increase the market sector. In recent years, the Maritime Safety System industry has offered some of the most significant advantages to global shipping operations and coastal security. Major players in the Maritime Safety System Market, including Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK) is attempting to increase market demand by investing in research and development operations.

Honeywell International Inc (Honeywell) is a company specializing in industrial goods and machinery. It focuses on developing and manufacturing innovative technologies to tackle challenges across various sectors, including energy, security, safety, productivity, and global urbanization. Honeywell offers a range of energy-efficient products, specialty chemicals, process technologies, advanced materials, electronic solutions, and safety and security technologies. Additionally, the company provides management and technical services, as well as repair, overhaul, and maintenance services. Serving customers primarily in aerospace, refining, petrochemicals, buildings, and industrial sectors, Honeywell operates globally with manufacturing facilities located worldwide. The company is headquartered in Charlotte, North Carolina, USA. In December 2023, Honeywell disclosed its acquisition of SCADAfence, a leading provider of cybersecurity solutions specializing in monitoring large-scale Operational Technology (OT) and Internet of Things (IoT) networks. SCADAfence excels in asset discovery, threat detection, and security governance, which is essential for enhancing cybersecurity in industrial and building management systems.

Thales SA (Thales) is a leading provider of advanced technologies, electronic systems, software, and services catering primarily to the aerospace, defense, and security sectors. The company offers a wide array of products, including in-flight entertainment and connectivity systems, avionics for aircraft, electric systems, air traffic management solutions, radar and sensors, navigation systems, surveillance systems, microwave and imaging subsystems, telecommunication satellites, military avionics, and simulation systems. Thales also provides critical information systems, cybersecurity solutions, train control, and rail signaling systems, along with air traffic management services, simulation and training services, smart cards, digital services, aerospace support, and cybersecurity services. Operating globally across the Americas, Europe, Asia-Pacific, and the Middle East, Thales is headquartered in Paris, France.

Key companies in the Maritime Safety System Market include

• Honeywell (US)


• Thales Group (France)


• Smiths Group (UK)


• Elbit Systems (Israel)


• Northrop Grumman (US)


• Westminster Group (UK)


• Raytheon Anschutz (Germany)


• Saab Group (Sweden)


• OSI Maritime Systems (Canada)


• BAE Systems (UK)

Maritime Safety System Industry Developments

October 2023: Smith's Detection launched the HI-SCAN 7555 DV, a dual-view X-ray scanner with enhanced capabilities. This scanner delivers superior image quality, automatic explosives detection, and a compact design, making it well-suited for efficient screening in high-risk environments.

September 2023: OSI Maritime Systems (OSI) finalized a Long-Term Partnership Agreement (LTPA) with PGZ Stocznia Wojenna Shipyard (PGZ SW). Under this agreement, OSI will serve as PGZ SW's preferred partner for the provision of new-build and retrofit WECDIS-based navigation systems for the Polish Navy.

Maritime Safety System Market Segmentation

Maritime Safety System Market Offering Outlook

• Solutions


• Services

Maritime Safety System Market Security Type Outlook

• Port & Critical Infrastructure Security


• Coastal Security


• Vessel Security


• Crew Security


• Cargoes and Containers Safety


• Ship system and equipment (SSE) Safety


• Other Security Types

Maritime Safety System Market System Outlook

• Ship Security Reporting System


• Automatic Identification System (AIS)


• Global Maritime Distress Safety System (GMDSS)


• Long Range Tracking and Identification (LRIT) System


• Vessel Monitoring and Management System


• Other Systems

Maritime Safety System Market Application Outlook

• Loss prevention &detection


• Security & Safety Management


• Counter piracy


• Monitoring & Tracking


• Environment Protection


• Search & Rescue


• Communication Management


• Other Applications

Maritime Safety System Market End User Outlook

• Government & Defense


• Marine & Construction


• Oil & Gas


• Shipping & Transportation
  
  
  
  • Shipping Companies
  
  
  • Ship Crews
  
  
  • Passengers & Cargo Owners
  
  
  
  

Maritime Safety System Market Regional Outlook

• 
  

  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America