Lucintel's latest market report analyzed that maritime services and security provides attractive opportunities in the transportation, consumer electronics, computer and peripherals, industrial, and telecom/datacom markets. The maritime services and security market is expected to reach $XX billion by 2028 with a CAGR of 6% to 8%. In this market, services is the largest segment by component, whereas loss prevention and detection is largest by application.
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Based on component, the maritime services and security market is segmented into solutions and services. The services segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increased outsourcing of safety system installation, maintenance in the shipping industry, and growing government initiatives to improve maritime safety.
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The Maritime Services and Security Market is marked by the presence of several big and small players. Some of the prominent players offering maritime services and security include Honeywell International, Thales Group, Smith’s Group, Elbit Systems, Northrop Grumman, Westminster Group, Raytheon Anschutz, Saab Group, OSI Maritime Systems, and BAE Systems.
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