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 : Feb 2025

Code : CMI5453

Pages :156

Formats :

Excel and PDF

Industry : Aerospace and Defense

Maritime Security Market Size and Trends

Global maritime security market is estimated to be valued at USD 26.72 Bn in 2025 and is expected to reach USD 43.78 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 7.3% from 2025 to 2032.

Maritime Security Market Key Factors

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Global maritime security market is expected to witness significant growth over the forecast period due to growing geopolitical threats at sea and rising instances of piracy and terrorism. Furthermore, increasing efforts by governments and ports authorities to enhance maritime domain awareness for ensuring safe and secure international waters boosts demand for maritime security solutions. Advancements in surveillance technologies such as integration of IoT, analytics and artificial intelligence are further expected to provide new opportunities for the market players. However, resistance from regulatory bodies and privacy concerns related to use of certain surveillance technologies can hamper the market growth. Market players are focusing on development of advanced and integrated systems with an aim to automate security processes, and this can drive the growth of maritime security market in the near future.

Market Driver: Piracy activity at sea

One of the key drivers for the growth of maritime security market is rise in piracy activity across major trade routes and sea lanes globally. While piracy at sea has been an issue for centuries, the scope and impact of such criminal activities has increased substantially over the past couple of decades. Asia Pacific, Africa and Latin America countries have witnessed increase in attacks on merchant and commercial vessels by pirate groups. These pirate gangs are often well organized and launch rapid attacks to seize cargo and demand ransom. Some of the major areas that have been impacted include the waters off Somalia and West Africa coastlines.

According to reports, the Gulf of Guinea witnessed over 90 pirate attacks in 2020, thus, making it an area with highest piracy risk in the world. Billions of dollars of cargo is transported through this region annually on trade routes linking Europe and Asia. Even a small number of successful pirate attacks can lead to massive financial losses for shipping companies. These also disrupt the global supply chains of numerous industries reliant on maritime transport. With increased globalization and just-in-time manufacturing practices, even short-term disruptions can have far reaching ripple effects. This has forced ship owners and operators to raise security levels and invest in anti-piracy solutions to safeguard their assets. Governments have been compelled to boost maritime security by deploying more coast guard assets and naval ships for protection and surveillance operations.