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Port Security Systems - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

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  • 110 Pages
  • February 2024
  • Region: Global
  • Mordor Intelligence
  • ID: 5529540
The Port Security Systems Market size is estimated at USD 21.45 billion in 2024, and is expected to reach USD 30.09 billion by 2029, growing at a CAGR of 7% during the forecast period (2024-2029).

Key Highlights

  • The increasing maritime traffic necessitates the installation of port security systems to reduce incidents of cargo theft and stowage from its premises and effectively stop arms and weapons trafficking. As trade volumes increase, so does the need for robust security systems to ensure the safe and efficient flow of cargo. This drives the demand for advanced security solutions, including surveillance cameras, access control, and biometric identification systems.
  • Heightened security threats and concerns about terrorism have led to increased investment in port security systems. Ports are vulnerable targets for various security risks, including terrorist attacks, smuggling, and cyber threats. The market may be constrained by the initial investment and the tedious design process required to upgrade the current security infrastructure at a port without deleteriously affecting the daily operations at the port.
  • Emerging technological trends in port security are focused on developing port security systems leveraging custom electronics such as multi-sensor cameras to conduct persistent surveillance throughout the port. A significant restraint in the port security systems market is the high implementation and maintenance costs associated with advanced security solutions. Deploying and maintaining state-of-the-art security systems, including surveillance cameras, sensors, and access control, can be a substantial financial burden for port authorities.

Port Security Systems Market Trends

Screening and Scanning Systems to Dominate the Market

  • The reactivation of the global economy has fostered the growth of maritime trade. Increased trade requires port authorities to be constantly proactive vis-à-vis critical aspects of safety and security within the port premises. Threats such as illegal cargo, smuggling, and potential terrorist activities demand rigorous security measures. Screening and scanning technologies, including X-ray cargo scanners and radiation detectors, are instrumental in identifying and mitigating these threats.
  • Port authorities worldwide are intensifying their focus on enhancing security protocols, making investments in advanced screening and scanning solutions a top priority. Modern cargo screening equipment is capable of efficiently examining containers, vehicles, and cargo while maintaining the flow of goods. For instance, gamma-ray scanning systems and automated container inspection technology have revolutionized the detection of concealed contraband, hazardous materials, and other security risks.
  • Hence, numerous screening and scanning systems for both personnel and cargo are being installed at the ports globally. In August 2021, Smiths Detection announced the Lebanese Customs commissioned an HCVM scanner at the Port of Beirut in collaboration with the Embassy of France in Lebanon, the French Ministry of Economy and Finance, Expertise France, and the CMA CGM Group.

Asia-Pacific to Dominate the Market During the Forecast Period

  • Since 2000, developing countries have become major exporters of raw materials and have emerged as a major market for imported finished and semi-finished goods. The region's strategic geographic location and extensive coastlines have positioned it as a central hub for global trade. With a substantial portion of the world's goods passing through its ports, the demand for advanced port security systems has surged. Asian nations are keen on protecting their critical infrastructure, ensuring the safety and security of cargo, and facilitating smooth trade flow, resulting in significant investments in state-of-the-art security technologies.
  • The Asia-Pacific region is not immune to security threats, and its geopolitical dynamics make it susceptible to various risks, including piracy, smuggling, and terrorist activities. These challenges have led to a heightened focus on bolstering security measures at ports. Governments and port authorities in the region are increasingly recognizing the importance of investing in comprehensive security systems that can effectively combat these threats. As part of this development, port operators are integrating cutting-edge security solutions into their designs to ensure that their facilities meet international security standards. The emphasis on modern, secure, and efficient ports further fuels the demand for port security systems, underlining the region's dominance in this market.
  • Moreover, many countries in the Asia-Pacific region are actively modernizing and expanding their port infrastructure. This includes the construction of new ports and terminals and the upgrading of existing facilities to accommodate larger vessels and higher cargo volumes. For instance, in September 2023, India's Ministry of Transport and Waterways announced its plans to invest about USD 13.5 billion to develop world-class infrastructure at Indian ports. This move is also part of Maritime India's 2030 vision, which aims to boost waterways, stimulate shipbuilding, and support cruise tourism in India.

Port Security Systems Industry Overview

The port security systems market is semi-consolidated in nature, and key players in the market dominate the majority market share are Saab AB, Siemens AG, RTX Corporation, THALES, and Leidos, Inc. There are also a large number of small/domestic companies occupying small market share. The market is highly competitive, with all the players competing to gain the largest market share.

The market is marred with major disruptions as the key players try to eliminate competition by adhering to an aggressive acquisition strategy. Their global reach and robust R&D capabilities position them as key players in delivering comprehensive security solutions for major ports worldwide. Alongside these industry leaders, there is a burgeoning ecosystem of specialized regional firms, which often tailor their solutions to the specific needs and regulatory requirements of local port authorities.

In April 2021, Leidos Inc. was awarded a contract by the US Customs and Border Protection (CBP) to install Multi-Energy Portal (MEP) systems at land and seaports for non-intrusive inspection (NII) of commercial vehicles.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 Type
5.1.1 Surveillance Systems
5.1.2 Physical Access Control Systems
5.1.3 Screening and Scanning Systems
5.1.4 Perimeter Intrusion Detection Systems
5.1.5 Real-time Location Systems
5.2 Geography
5.2.1 North America United States Canada
5.2.2 Europe United Kingdom France Germany Russia Rest of Europe
5.2.3 Asia-Pacific China India Japan Australia Rest of Asia-Pacific
5.2.4 Latin America Mexico Brazil
5.2.5 Middle East and Africa Saudi Arabia United Arab Emirates South Africa Rest of Middle East and Africa
6.1 Company Profiles
6.1.1 Teledyne FLIR LLC
6.1.2 Johnson Controls
6.1.3 Honeywell International Inc.
6.1.4 Saab AB
6.1.5 Robert Bosch GmbH
6.1.6 Siemens AG
6.1.7 RTX Corporation
6.1.8 Leidos, Inc.
6.1.9 Unisys Corporation
6.1.10 OSI Systems, Inc.
6.1.11 THALES
6.1.12 Indra Sistemas S.A.