The global maritime safety system market size reached USD 25.6 Billion in 2022 and is expected to register a revenue CAGR of 6.5% during the forecast period, according to the latest analysis by Emergen Research. Rapid adoption of Virtual Reality (VR) devices, touch screen monitors, and implementation of stringent safety regulations are major factors driving revenue growth of the market. Most accidents on board a ship occur due to poor knowledge of safety regulations or carelessness towards the same. End-use companies are proposing ideas that include the digitalization of safety procedures to realize powers of visual information over a paper-based one, a unique Safety Wear and Equipment Identification system, and pre-board training using VR. Therefore, demand for touchscreen monitors in the marine industry is rapidly rising. Rapid adoption of these devices enables effective communication and enhances the performance of maritime safety systems. Market companies are incorporating components that aid in collecting data from cameras attached to various corners of a ship. These cameras provide a 360-degree view, thereby enabling industry professionals to make informed decisions.
The study on the Global Maritime Safety System Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Maritime Safety System market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Maritime Safety System industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Maritime Safety System industry.
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Competitive Outlook: The leading companies operating in the Maritime Safety System market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Top Companies Operating in the Maritime Safety System Market and Profiled in the Report are:
Honeywell International Inc., Thales Group, Smiths Group plc, Elbit Systems Ltd., Northrop Grumman, Saab, OSI Maritime Systems, BAE Systems plc, TERMA Group, and HALO Maritime Defense Systems
Objectives of the Report:
Study of the global Maritime Safety System market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
Industrial structure analysis of the Maritime Safety System market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Maritime Safety System market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Maritime Safety System market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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Segments Covered in this report are:
-
System Outlook (Revenue, USD Billion; 2019-2032)
- System Security Reporting System
- Automatic Identification System
- Longer Range Tracking and Identification System
- Others
-
Application Outlook (Revenue, USD Billion; 2019-2032)
- Loss Prevention and Detection
- Security Management
- Counter Piracy
- Coastal Monitoring
- Others
-
End-user Outlook (Revenue, USD Billion; 2019-2032)
- Government Institutions
- Oil & Gas
- Shipping and Transportation
- Others
Regional Analysis:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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