Maritime Tracking Industry
Delivered November 12, 2019. Contributor: Jennifer P.
Goals
Gain an understanding of the maritime tracking industry with a specific focus on cameras, including the global market size with a breakdown for the top three largest markets (likely US, Europe, and Canada), the largest customers for this type of product, the five industries/organizations which are spending the most on maritime tracking, what they're monitoring, which of them want to integrate/switch to smart vision-based surveillance, what their budget is for this type of product, and what the standard sales cycle is, and competitors in this space
Early Findings
- While there was no publicly available market size for tracking, the surveillance and tracking segment of the market has a projected growth of 7.3%.
- Major competitors in the global space included BAE Systems PLC (U.K.), Honeywell International, Inc. (U.S.), Northrop Grumman Corporation (Israel), Raytheon Anschütz GmbH (Germany), Saab Group (Sweden), Elbit Systems Ltd. (Israel), Harris Corporation (U.S.), Kongsberg Gruppen ASA (Norway), Leonardo-Finmeccanica (Italy), and Signalis SA (France).
- Key industries spending the most on maritime tracking are; Consulting Companies, Government Organizations and Agencies, and Integrated Maritime Safety Providers.
- Key drivers of growth in the space include "surge in trade & travel activities by seaways, increasing maritime safety awareness, and compliance to regulatory standards & guidelines".
- Challenges limiting market growth include "absence of uniform standards for maritime safety technologies & solutions, ungoverned marine regions, and transnational organized crime".
- Key uses for maritime security including tracking include a wide range, from shipping of goods, to countering piracy, to prevention of embargo and human trafficking.
- Uses were also segmented into three categories, Port & Shipyard, Vessel Security, and Coastal Surveillance.
Proposed next steps:
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