Global Maritime Safety System Market 2024-2031

Maritime Safety System Market Size, Share & Trends Analysis Report by Vehicle Type (Port & Critical Infrastructure Security, Coastal Surveillance, Crew Security, Vessel, Cargoes & Containers Safety, Ship System & Equipment (SSE) Safety, and Other), and by System (Ship Security Reporting System, Automatic Identification System (AIS), Global Maritime Distress Safety System (GMDSS), Long Range Tracking & Identification (LRIT) System, Vessel Monitoring & Management System, and Other) Forecast Period (2024-2031)

The maritime safety system market is anticipated to grow at a significant CAGR of 7.8% during the forecast period (2024-2031). The maritime safety system market is shaped by factors such as regulatory compliance, increased maritime traffic, technological advancements, environmental protection, and cybersecurity concerns. Additionally, awareness of safety issues, port infrastructure investment, emerging markets, and regional growth contribute to the market's dynamics. These elements lead to heightened investment in safety systems to manage risks and control expenses.

Market Dynamics

Growing Deployment of Maritime Safety Systems for Surveillance and Monitoring

The global market for maritime safety systems has been influenced by technological developments in surveillance and monitoring, such as satellite-based tracking, automatic identification systems (AIS), and radar systems, which ensure safer operations. For instance, in March 2023, AD Ports implemented a Vessel Traffic Management Information System (VTMIS) across its UAE operations, aiming to improve maritime safety and enhance the Ports Community System (PCS). The system integrates various port and maritime assets, providing real-time information and improving vessel-to-vessel and vessel-to-shore communication.

Environmental Regulations

Increased vehicle traffic on short sea routes raises marine pollution concerns, driving compliance with environmental regulations and adoption of monitoring systems and pollution response tools. According to the GOV.UK., in 2023, deep-sea unitized Lo-Lo container traffic rose by 2%, mirroring the slight increase in tonnage amounts for both imports and exports, with China and Singapore leading in container traffic on deep-sea routes. Conversely, deep sea Ro-Ro unitized traffic saw a 4% decline, primarily due to a 5% decrease in import and export vehicles compared to 2022. However, import/export vehicles experienced a 17% rise on short sea routes, indicating a shift in trade from deep sea to short sea regions, which led to an overall increase in vehicles managed by UK ports.

Market Segmentation

• Based on the security type, the market is segmented into port & critical infrastructure security, coastal surveillance, crew security, vessel, cargo & container safety, ship system & equipment (SSE) safety, and other security types (safety of marine installations, and cyber security).
• Based on the system, the market is segmented into ship security reporting systems, automatic identification systems (AIS), global maritime distress safety systems (GMDSS), long-range tracking & identification (LRIT) systems, vessel monitoring & management systems, and other systems (Automated Manifest System (AMS), and Automated Mutual Assistance Vessel Rescue System (AMVER)).

The Port & Critical Infrastructure Security Segment is projected to Hold the Largest Market Share.

The increasing digitization of maritime operations renders ports and cargo management systems more vulnerable to cyberattacks, leading to the need for the development of effective cybersecurity defenses. For instance, in August 2024, the US Department of Homeland Security (DHS) unveiled a Control Environment Laboratory Resource (CELR) platform to enhance maritime infrastructure cybersecurity. The platform, developed in collaboration with the Cybersecurity and Infrastructure Security Agency (CISA), provided the US Coast Guard with advanced capabilities to fortify the nation's maritime infrastructure. CELR platforms are laboratory-scale environments that simulate critical infrastructure facilities, real-world processes, software, and hardware.

Automatic Identification System (AIS) Segment to Hold a Considerable Market Share

Governments and international bodies are implementing stricter regulations on vessel operations to protect marine life and ensure navigational safety, driving market growth through dashboard alignment. For instance, in October 2023, NOAA Fisheries launched a new dashboard for vessel speed compliance, utilizing Automatic Identification System data to show strong compliance across sectors, particularly with the North Atlantic right whale mandatory speed zones.

Regional Outlook

The global maritime safety system market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Growing Concerns Over Maritime Safety in the Asia-Pacific Region

The rise in maritime safety concerns owing to accidents and emergencies has led to increased investment in safety measures and the establishment of new rescue facilities. For instance, in August 2024, the Indian Defense Minister launched new maritime security facilities, including the Regional Marine Pollution Response Centre and Coast Guard Air Enclave. The facilities aim to enhance maritime rescue operations for mariners and fishermen in distress. The Centre is equipped with distress monitoring equipment and real-time communication systems for efficient response.

North America Holds Major Market Share

Robust safety and communication systems are essential to successfully control hazards and propel market growth in light of the expanding maritime traffic, especially in congested shipping lanes and in remote regions. For instance, in September 2024, Iridium Communications introduced Iridium Certus GMDSS, a maritime safety and communication service that integrates multiple regulated services into a single solution. The service aims to enhance the efficiency and performance of maritime safety and security solutions, meeting the critical connectivity needs for ships' hybrid network systems. Supported by leading manufacturers, it is maintenance-free, lightweight, and provides global coverage, including polar regions.

Market Players Outlook

The major companies serving the maritime safety system market include ABB Ltd., Kongsberg Gruppen ASA, Siemens AG, Thales, Wartsila Corp., and others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.

Recent Developments-

• In September 2024, Telecom Namibia partnered with Marintel JV to upgrade the Global Maritime Distress and Safety System (GMDSS) along the Namibian coastline, providing round-the-clock coverage and enhanced maritime communication capabilities.
• In October 2023, Intellian and Inmarsat signed a Memorandum of Understanding for the development of a next-generation Maritime Safety Terminal. The terminal part of Inmarsat's ELERA L-band network meets IMO requirements. It offered reliable access to Fleet Safety services and a Distress Chat function, alerting the nearest Maritime Rescue Coordination Centre in case of emergencies.