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Research and Markets - Global Maritime Security Market 2016-2020: Trends, Challenges & Drivers - Key Vendors are BAE Systems, Elbit Systems, FLIR Systems, Harris, Northrop Grumman, Raytheon & SAABDUBLIN, Dec 5, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Maritime Security Market 2016-2020" report to their offering. The global maritime security market to grow at a CAGR of 6.27% during the period 2016-2020. Global Maritime Security Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of maritime security solutions. According to the report, there has been a noticeable expansion in seaborne trade because of the growth in the world economy. The economy of China is growing rapidly, and its GDP per capita is expected to increase substantially during 2016-2020. However, it has been observed that China was the largest contributor in seaborne trade during 2010-2015. The rapid increase in global seaborne trade traffic in recent years have increased the demand for maritime security to provide continuous real-time surveillance of harbor and ports and tracking and tracing information of vessels during te journey. The growing need to protect marine ports from advanced security threats is leading to an increased adoption of multiple security technologies worldwide across ports, vessels, and harbors. However, the adoption of various security technologies has increased infrastructural complexities. Therefore, the end-users are finding it difficult to manage these technologies. To overcome such challenges, companies opt for converged security technologies, which combine multiple security technologies in a single solution. Since the cost of implementing various security technologies is higher than one converged, the adoption of the same is rapid. Therefore, the convergence of multiple technologies is an emerging trend, which is expected to have a positive impact on the market during the forecast period. Key vendors
Other prominent vendors
Key Topics Covered: Part 01: Executive summary For more information about this report visit http://www.researchandmarkets.com/research/pzmjf3/global_maritime Media Contact: Laura Wood, Senior Manager
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