Maritime Security Market to grow at a CAGR of 8.4% by 2019 - New Report by MarketsandMarkets

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The report on “Maritime Security Market" defines the global market for accurate revenue forecasts and future growth trends. It also identifies various drivers and restraints for this market based on the detailed analysis of the industry segments. (http://www.marketsandmarkets.com/Market-Reports/maritime-security-market-1033.html)

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The major Key players in maritime security Market are EADS, Kongsberg, Raytheon, Terma, Thales Group, Northrop Grumman Corporation, Honeywell & many more.

The report on “Maritime Security Market" defines the global market for accurate revenue forecasts and future growth trends. It also highlights various major driving and restraining factors for this market based on a detailed analysis of the industry segments. It expects the global market to rise at a projected growth rate of over 8.4% from 2014 to reach $20.87 billion in 2019.

Explore the market information through detailed ToC, tables and figures explaining the growth trends in the "Maritime Security Market"

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Different nations utilize high-tech systems to secure their marines and ports. Growth in terrorist activities, illegal seaborne immigration, piracy concerns and other issues like environmental destruction are creating major issues for the governments around the world. According to the report, the technologies available in the maritime security market are advancing at a rapid rate. They have come a long way from the traditional systems like flags and semaphores to the modern day tracking systems. The report expects strong growth in the adoption of these technologies to be a vital driver for the global market. It also estimates advanced technologies like thermal imaging, underwater surveillance, and smart containers to improve the growth opportunities and success of the maritime security systems.

As per the report, the surveillance & tracking technology segment of the global maritime security market is expected to generate maximum revenue. This segment consists of the systems and solutions necessary for video and underwater surveillance. Other sub-markets including radar, long range identification and tracking systems, thermal imaging, Automatic Identification Systems (AIS), optronics, are also expected to witness impressive growth in the years to come. The report expects smart container technologies, SCADA and screening and scanning systems to grow at a high CAGR.

The report analyzes key market players including Terma, Kongsberg, Thales Group, Raytheon, Honeywell, and Northrop Grumman Corporation. Other than the key companies, the report expects small players to witness strong growth in the years to come. It expects North America to be the biggest market based on its revenue contribution in 2014, whereas expects APAC to experience increased market traction, in the due course.

According to the report, underwater security solutions, which are very helpful to detect underwater threats or intrusion, are not as explored as compared to the rest of the water and coastal land surveillance segments. It also expects strong development in the installations of the AISs on ships and Vessel Traffic Services (VTSs) in the future.

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