Companiesandmarkets.com

Global maritime security market reporting increased investment from private companies

Press Release   •   Dec 03, 2013 15:02 GMT

The global maritime security market is reporting an increased number of private companies operating in the sector as the threat from piracy increases combined with the higher volume of shipping transporting cargo over the seas.

The leading companies operating in the maritime security market are Kongsberg, Raytheon, Term, Thales Group and Northrop Grumman Corporation and it is the larger corporations who are providing logistics companies with total integrated solutions to a number of security risks.

Shipping and logistics companies are now introducing tagging and surveillance systems to provide improved protection for the cargo being transported. In addition, scanners are being introduced to ensure that full screening of the cargo is also provided.

The Middle East and Africa region represent the fastest growing market in terms of security expenditure. The global maritime security market is forecast to be valued at US$19.5 billion in 2018, increasing from a base of US$12.6 billion in 2013. During the period 2013 to 2018, the global maritime security market is forecast to increase at 9.2% CAGR.

For more information on Global Maritime Security Market, see the latest research: Global Maritime Security Market

Follow us on Twitter @CandMResearch


Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.