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Vessel Traffic Management Market

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    Report

  • 117 Pages
  • December 2022
  • Region: Global
  • Polaris Market Research
  • ID: 5724210
The global vessel traffic management market size is expected to reach USD 10.68 billion by 2030, according to a new study. The report “Vessel Traffic Management Market Share, Size, Trends, Industry Analysis Report, By Component (Equipment, Solution, and Service); By Investment; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing demand and need to monitor various types of operations, functioning and voyage path of ships on a centralized platform, and increasing investment by large companies for the enhancement of ports and trade routes coupled with assurance of better safety and security of their borders and coastguards are major factors expected to drive the growth.

An extensive rise in the number of ships worldwide has strained the current traffic management, and monitoring infrastructure coupled with the rising complexity of vessel operations, which are likely to provide lucrative growth opportunities. For instance, in September 2022, Equinor & Vissim developed new ocean space surveillance & traffic management solutions for the various operators on the Norwegian & UK continental shelves. This system ensures accurate time vessel monitoring, weather conditions, and sea route planning.

An increasing number of seaborne trades around the world, high incorporation of ICT in the marine industry, a rapid boost in maritime tourism industry, and high augmented budgets of various shipping companies for the adoption of digitization of vessel services are a few other factors influencing the industry growth at a significant growth rate. In addition, with the rising ship traffic globally, it has become essential to improve security and safety and better safeguard the environment, likely to augment market growth.

Technological advancement in vessel traffic management allows authorities to improve navigational activities, increase vessel traffic volumes within congested shipping lanes, and enable seamless and innovative autonomous information exchange among unmanned vessels to maintain the VTMS sector at the forefront sector. For instance, ST Engineering & Kongsberg Norcontrol of Norway have announced the collaboration to build a center to develop advanced digital technologies and better decision-making tools for maritime operators.

Vessel Traffic Management Market Report Highlights

  • Equipment segment accounted for highest global revenue share, in 2021, due to rising adoption of several navigation, surveillance, and communication.
  • Commercial sector is projected to hold significant share owing to rising transportation of various supplies, including crude oil, automobiles, steel, and food.
  • Brownfield segment is expected to witness fastest growth over the study period owing to high efforts for expanding ports and rapid increase in modernization programs.
  • Asia Pacific dominated the market in 2021 and is likely to retain its position over the study period, which is accelerated by large presence of busy ports & trade routes in the region.
  • The global players include Kongsberg Gruppen, General Electric, Wartsila Corporation, Kelvin Hughes, and others.

The publisher has segmented the vessel traffic management market report based on component, investment, end-use, and region:

Vessel Traffic Management, Component Outlook (Revenue - USD Billion, 2018 - 2030)

  • Equipment
  • Solution
  • Service

Vessel Traffic Management, Investment Outlook (Revenue - USD Billion, 2018 - 2030)

  • Brownfield
  • Greenfield

Vessel Traffic Management, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

  • Commercial Sector
  • Defense Sector

Vessel Traffic Management, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

  • North America
  • U.S
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
Frequently Asked Questions about the Vessel Traffic Management Market

What is the estimated value of the Vessel Traffic Management Market?

The Vessel Traffic Management Market was estimated to be valued at $5.66 billion in 2022.

What is the growth rate of the Vessel Traffic Management Market?

The growth rate of the Vessel Traffic Management Market is 8.3%, with an estimated value of $10.68 billion by 2030.

What is the forecasted size of the Vessel Traffic Management Market?

The Vessel Traffic Management Market is estimated to be worth $10.68 billion by 2030.

Who are the key companies in the Vessel Traffic Management Market?

Key companies in the Vessel Traffic Management Market include Wartsila Corporation, Kongsberg Gruppen AS, General Electric Co., Northrop Grumman Corporation, Marlink AS, L3 Technologies, Japan Radio Co. Ltd., Leonardo Finmeccanica and Marlan Maritime Technologies.

Table of Contents

1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary
2.1. Market Highlights

3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources

4. Global Vessel Traffic Management Market Insights
4.1. Vessel Traffic Management - Industry Snapshot
4.2. Vessel Traffic Management Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Increased vessel congestion at ports
4.2.1.2. Need for automation
4.2.2. Restraints and Challenges
4.2.2.1. VTMS facility location
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Vessel Traffic Management Market Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Vessel Traffic Management Market, by Component
5.1. Key Findings
5.2. Introduction
5.2.1. Global Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
5.3. Equipment
5.3.1. Global Vessel Traffic Management Market, by Equipment, by Region, 2018 - 2030 (USD Billion)
5.4. Solution
5.4.1. Global Vessel Traffic Management Market, by Solution, by Region, 2018 - 2030 (USD Billion)
5.5. Service
5.5.1. Global Vessel Traffic Management Market, by Service, by Region, 2018 - 2030 (USD Billion)

6. Global Vessel Traffic Management Market, by Investment
6.1. Key Findings
6.2. Introduction
6.2.1. Global Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
6.3. Brownfield
6.3.1. Global Vessel Traffic Management Market, by Brownfield, by Region, 2018 - 2030 (USD Billion)
6.4. Greenfield
6.4.1. Global Vessel Traffic Management Market, by Greenfield, by Region, 2018 - 2030 (USD Billion)

7. Global Vessel Traffic Management Market, by End-Use
7.1. Key Findings
7.2. Introduction
7.2.1. Global Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
7.3. Commercial Sector
7.3.1. Global Vessel Traffic Management Market, by Commercial Sector, by Region, 2018 - 2030 (USD Billion)
7.4. Defense Sector
7.4.1. Global Vessel Traffic Management Market, by Defense Sector, by Region, 2018 - 2030 (USD Billion)

8. Global Vessel Traffic Management Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Vessel Traffic Management Market Assessment, By Geography, 2018 - 2030 (USD Billion)
8.3. Vessel Traffic Management Market - North America
8.3.1. North America: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.3.2. North America: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.3.3. North America: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.3.4. Vessel Traffic Management Market - U.S.
8.3.4.1. U.S.: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.3.4.2. U.S.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.3.4.3. U.S.: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.3.5. Vessel Traffic Management Market - Canada
8.3.5.1. Canada: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.3.5.2. Canada.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.3.5.3. Canada: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4. Vessel Traffic Management Market - Europe
8.4.1. Europe: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.2. Europe.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.3. Europe: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4.4. Vessel Traffic Management Market - UK
8.4.4.1. UK: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.4.2. UK.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.4.3. UK: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4.5. Vessel Traffic Management Market - France
8.4.5.1. France: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.5.2. France.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.5.3. France: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4.6. Vessel Traffic Management Market - Germany
8.4.6.1. Germany: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.6.2. Germany.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.6.3. Germany: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4.7. Vessel Traffic Management Market - Italy
8.4.7.1. Italy: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.7.2. Italy.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.7.3. Italy: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4.8. Vessel Traffic Management Market - Spain
8.4.8.1. Spain: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.8.2. Spain.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.8.3. Spain: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4.9. Vessel Traffic Management Market - Netherlands
8.4.9.1. Netherlands: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.9.2. Netherlands.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.9.3. Netherlands: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.4.10. Vessel Traffic Management Market - Russia
8.4.10.1. Russia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.4.10.2. Russia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.4.10.3. Russia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.5. Vessel Traffic Management Market - Asia Pacific
8.5.1. Asia Pacific: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.5.2. Asia Pacific.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.5.3. Asia Pacific: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.5.4. Vessel Traffic Management Market - China
8.5.4.1. China: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.5.4.2. China.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.5.4.3. China: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.5.5. Vessel Traffic Management Market - India
8.5.5.1. India: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.5.5.2. India.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.5.5.3. India: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.5.6. Vessel Traffic Management Market - Malaysia
8.5.6.1. Malaysia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.5.6.2. Malaysia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.5.6.3. Malaysia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.5.7. Vessel Traffic Management Market - Japan
8.5.7.1. Japan: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.5.7.2. Japan.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.5.7.3. Japan: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.5.8. Vessel Traffic Management Market - Indonesia
8.5.8.1. Indonesia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.5.8.2. Indonesia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.5.8.3. Indonesia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.5.9. Vessel Traffic Management Market - South Korea
8.5.9.1. South Korea: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.5.9.2. South Korea.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.5.9.3. South Korea: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.6. Vessel Traffic Management Market - Middle East & Africa
8.6.1. Middle East & Africa: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.6.2. Middle East & Africa.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.6.3. Middle East & Africa: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.6.4. Vessel Traffic Management Market - Saudi Arabia
8.6.4.1. Saudi Arabia: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.6.4.2. Saudi Arabia.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.6.4.3. Saudi Arabia: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.6.5. Vessel Traffic Management Market - UAE
8.6.5.1. UAE: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.6.5.2. UAE.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.6.5.3. UAE: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.6.6. Vessel Traffic Management Market - Israel
8.6.6.1. Israel: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.6.6.2. Israel.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.6.6.3. Israel: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.6.7. Vessel Traffic Management Market - South Africa
8.6.7.1. South Africa: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.6.7.2. South Africa.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.6.7.3. South Africa: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.7. Vessel Traffic Management Market - Latin America
8.7.1. Latin America: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.7.2. Latin America.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.7.3. Latin America: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.7.4. Vessel Traffic Management Market - Mexico
8.7.4.1. Mexico: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.7.4.2. Mexico.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.7.4.3. Mexico: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.7.5. Vessel Traffic Management Market - Brazil
8.7.5.1. Brazil: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.7.5.2. Brazil.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.7.5.3. Brazil: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)
8.7.6. Vessel Traffic Management Market - Argentina
8.7.6.1. Argentina: Vessel Traffic Management Market, by Component, 2018 - 2030 (USD Billion)
8.7.6.2. Argentina.: Vessel Traffic Management Market, by End-Use, 2018 - 2030 (USD Billion)
8.7.6.3. Argentina: Vessel Traffic Management Market, by Investment, 2018 - 2030 (USD Billion)

9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles
10.1. Wartsila Corporation
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Recent Development
10.2. Kongsberg Gruppen
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Recent Development
10.3. General Electric
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Recent Development
10.4. Northrop Grumman
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Recent Development
10.5. Marlink AS
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent Development
10.6. L3 Technologies
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Recent Development
10.7. Japan Radio
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Recent Development
10.8. Leonardo Finmeccanica
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Recent Development
10.9. Kelvin Hughes
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Recent Development
10.10. Marlan Maritime
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Recent Development
10.11. Elcome International
10.11.1. Company Overview
10.11.2. Financial Performance
10.11.3. Product Benchmarking
10.11.4. Recent Development
10.12. Xanatos Marine
10.12.1. Company Overview
10.12.2. Financial Performance
10.12.3. Product Benchmarking
10.12.4. Recent Development
10.13. TERMA
10.13.1. Company Overview
10.13.2. Financial Performance
10.13.3. Product Benchmarking
10.13.4. Recent Development
10.14. Saab AB
10.14.1. Company Overview
10.14.2. Financial Performance
10.14.3. Product Benchmarking
10.14.4. Recent Development
10.15. Thales Group
10.15.1. Company Overview
10.15.2. Financial Performance
10.15.3. Product Benchmarking
10.15.4. Recent Development
10.16. Rolta India
10.16.1. Company Overview
10.16.2. Financial Performance
10.16.3. Product Benchmarking
10.16.4. Recent Development
10.17. Tokyo Keiki
10.17.1. Company Overview
10.17.2. Financial Performance
10.17.3. Product Benchmarking
10.17.4. Recent Development

Companies Mentioned

  • Wartsila Corporation
  • Kongsberg Gruppen AS
  • General Electric Co.
  • Northrop Grumman Corporation
  • Marlink AS
  • L3 Technologies
  • Japan Radio Co. Ltd.
  • Leonardo Finmeccanica
  • Kelvin Hughes
  • Marlan Maritime Technologies
  • Elcome International LLC.
  • Xanatos Marine Ltd.
  • TERMA
  • Saab AB
  • Thales Group
  • Rolta India
  • Tokyo Keiki Inc.