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Maritime Safety System Market Share

Report ID: GMI9821
Published Date: Jun 2024
Report Format: PDF

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Maritime Safety System Market Share

Kongsberg Maritime and Saab hold a significant market share of over 24% in the maritime safety system industry. This is due to their vast product range, technological innovation, and considerable experience. These businesses offer cutting-edge tracking, navigation, and safety systems that are necessary for contemporary marine operations. They stay ahead of the curve in the development of cutting-edge technologies, such as telematics, ROVs, and LRIT systems, due to their R&D investments.

Furthermore, their ability to successfully meet a variety of market demands and regulatory requirements is attributed to their global reach and strategic alliances, which further solidifies their leading positions in the industry.

Maritime Safety System Market Companies

Major companies operating in the maritime safety system industry are:

Elbit Systems Ltd.
Garmin
Kongsberg Maritime
Lockheed martin corporation
Navico
Northrop Grumman
Raytheon Anschütz
Saab
SRT Marine Systems
Thales Group

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of maritime safety system reached USD 28.7 billion in 2023 and is set to witness 6% CAGR from 2024 to 2032, due to the rising international maritime traffic, stricter regulations, and technological developments.

The hardware component segment in the maritime safety system industry is projected to surpass USD 28 billion by 2032, as it is an essential function in guaranteeing the effectiveness and safety of marine activities.

The port & harbor application segment recorded 30% share in 2023, due to its vital role in international trade and transportation.

Asia Pacific market accounted for over 34% revenue share in 2023, attributed to the robust infrastructure investments and booming maritime sector in the region.