Global maritime security market to grow at a CAGR of 7.99%

Increase in maritime terrorist activities such as the Mumbai attack in 2008 and rise in piracy in the Gulf of Aden, has raised concerns about the need to secure ports, and modernise weaponry and equipment utilized by maritime security agencies, according to the Global Maritime Security Market 2015-2019 report.

The report forecast global maritime security market to grow at a CAGR of 7.99% over the period 2014-2019.

Maritime security operations cover missions ranging from preventing shipping of illegal goods to countering piracy. They also involve the prevention of embargo situations and human trafficking.

Maritime security agencies protect the nation from illegal activities and threats, such as smuggling, drug trafficking, piracy at sea, human trafficking, and maritime terrorism. These agencies provide security to ports and marine traffic.

 



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