Ship Security Alert System Market Detailed Analytical Overview by 2028

Ship Security Alert System Market: Introduction

Ship Security Alert System is part of the ISPS (International Ship and Port Facility Security) code, a safety measure that contributes to the International Maritime Organization's (IMO)'s efforts for strengthening ship’s security. Ship Security Alert System (SSAS) allows transmission of a silent security alert to a flag state authority when the security of the ship is under threat or has been compromised. The Ship Security Alert System (SSAS) does not produce any kind of audio or visual signals on the ship instead perform silent operations and transfers alerts in a serial manner. The recipient of the signal may differ vastly, as it may be the ship owner, flag state or Ship Security Alert System Management Company further they may transfer the signal to National Law-Enforcement Agency. Ship Security Alert System was introduced in December 2002, when International Maritime Organization (IMO) issued some changes in SOLAS Chapter XI-2, Regulation 6. Owing to several benefits such as global coverage, suitable for asset tracking, web based tracking, up gradation over older GMDSS version, fully maritime focused among others, the demand for Ship Security Alert System (SSAS) is estimated to grow with significant pace. This in turn is anticipated to considerably contribute to the growing market of global Ship security Alert System during the forecast period.

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Ship Security Alert System Market: Dynamics

Growing travel and tourism industry is anticipated to be one of the key factor driving the growth of ship security alert system market during the forecast period. Rising number of tourists taking part in marine tourism has led to higher production and sales of marine vessels and thereby increasing the sales of ship security alert system market across the globe.

As one of the important international trades in the world, seaborne transportation is estimated to play a pivot role in the world’s rapid industrialization and advancement, permitting the transportation of very large volumes of processed and raw materials as well as water, food and other products. Gradually growing global sea borne trade is estimated to significantly impact the growth of Ship Security Alert System during the forecast period.

Ship Security Alert System Market: Segments

The global Ship Security Alert System market has been segmented by product type, marine vessel type,

By type of Product, the global Ship Security Alert System market is segmented into

Integrated Ship Security Alert System
Dedicated Ship Security Alert System

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By type of marine vessel, the global Ship Security Alert System market is segmented into

Passenger Ships and Ferries
Oil and Chemical Tankers
Bulk Carriers
General Cargo
Offshore Vessels

Ship Security Alert System Market: Regional Outlook

The shipbuilding industry is experiencing a dramatic wave of change compelled by the developing outlines and growing volumes of seaborne trade. Rising demands to support offshore activities, such as in the examination and production of oil and gas also adds to the altering landscape of the industry. Technology trends will definitely alter business model and propel the ship safety and security market to be more competitive in the global arena. This in turn is estimated to positively impact the global ship security alert system market in the coming years. Further, the scope for further economic interdependence is still strong for many countries and a large potential for an increase in economic integration within South Asia, Latin America and especially within Sub-Saharan Africa to reinforce the future outlook for the global trade. This in turn is anticipated to generate noteworthy opportunities and subsequently contribute to the growing market of Ship Security Alert System. Owing to stringent rules and legislations regarding the ship safety and security in the regions including North America and Europe, the demand for ship security alert system is anticipated to witness significant growth through the forecast period.

Ship Security Alert System Market: Key Participants

Examples of some of the market participants identified across the value chain of the global Ship Security Alert System market include:

Stratum Five
Cobham Plc
ElektronikLab India Pvt Ltd.
Furuno Electric Co., Ltd.
Polaris Electronics A/S
EMA Group

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