Wednesday 11 February 2015, Amsterdam
The new report recognizes the following companies as the key players in Global Maritime Security Market: Raytheon Co., SAAB AB, Selex ES, Sonardyne Group Ltd., Thales SA , Aegis LLC , BAE Systems plc , Elbit Systems Ltd., Harris Corp. , Hart Integrated Solutions, Honeywell International Inc., Hart Integrated Solutions, Hudson Analytix , Kongsberg Gruppen ASA , Neptune Maritime Security Ltd. , Northrop Grumman Corp , Signalis Holding GmbH, Telecommunication System Inc., Terma A/S, Telecommunication SystemInc., The Trident Group Inc., Westminster Group plc
Commenting on the report, an analyst from the reports team said: “In an attempt to improve the existing technology, vendors are developing systems that can help augment the endurance and efficiency of maritime security systems in extreme conditions. For example, there is an increase in the demand for maritime security threats, which require low maintenance and can counter explosive threats. ”
According to the report, the growth of the Global Maritime Security market is driven by several factors. An increase in the threat to vessels by pirates, especially in the Indian Ocean, Somali Basin, and Gulf of Aden, is one factor driving the market.
Further, the report states that the rapid technological advances are forcing vendors to invest in upgrading their products, resulting in a decline in their profit margins.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.