Maritime Safety Market Overview, Growth and Analysis Research Report 2018-2025

(EMAILWIRE.COM, October 27, 2018 ) The Global Maritime Safety Market was valued at USD 16.95 billion in 2016 and is projected to reach USD 32.36 billion by 2025, growing at a CAGR of 7.45% from 2017 to 2025.

Maritime security is related to the securing of a life or a specific science of property with the aid of am management, technology or regulation of some form of transportation conducted over water. There are several factors that affect the security of maritime such as the conditions of the waterway, the hydrographic services, the availability of data on the specific water levels, weather conditions and more. Maritime safety is extremely crucial in order to prevent damage or harm to any of the ship’s crew or cargo as a result of acts of terror, theft or violence.

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With the emergence of smart technology as well as integrated solutions, there is a need for strict compliance with the rules and standards when it comes to activity on the sea. The increase in the maritime awareness is crucial in order to ensure maximum safety of the ship and its inhabitants. These factors are driving the maritime safety market. The factors such as piracy, terrorism and the lack of standards in the technologies are restraints in the market for maritime safety.

Competitive Landscape:

The major players in the market are as follows:

Kongsberg Gruppen
Signalis
Honeywell International
Leonardo-Finmeccanica
Harris Corporation
Saab
Elbit Systems Ltd.
Raytheon Anschütz GmbH
BAE Systems, Inc
Northrop Grumman Corporation

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