Maritime Security Market, By Component (Hardware, Software, Services), By Technology (Screening and Scanning, Communications, Surveillance and Tracking Detectors, Other Technologies), By Type (Port and Critical Infrastructure Security, Vessel Security, Coastal Surveillance), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : May 2024

Code : CMI5453

Pages :156

Formats :

Excel and PDF

Industry : Aerospace and Defense

Market Concentration and Competitive Landscape

Maritime Security Market Concentration By Players

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Terrorist activity targeting commercial vessels

Another key factor driving growth of maritime security market is increased threat of terrorist and militant groups targeting commercial ships and ports globally. While piracy is often motivated by financial gain, terror attacks aimed at sinking or hijacking commercial vessels tend to have stronger geopolitical and ideological goals of instilling fear and disrupting international trade and commerce. Some of the major incidents include the 2000 bombing of the USS Cole in Yemen and the 2002 bombing of the French tanker Limburg near Yemen. The ability of terrorist groups to plan and carry out complex naval attacks poses a serious ongoing risk. Experts warn terrorist organizations may seek to acquire weapons like submarines or explosive-laden small boats to wreak even greater havoc.

Ports and harbors which act as vital nodes of the global economy have also emerged as attractive targets. A successful terror attack could paralyze port operations for extended periods and impact billions of dollars in cargo traffic.

Key Players