The Maritime Security Market is expected to register a CAGR of 9.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Maritime Security Market report covers a deep analysis by Technology Type, Services, application, geography
Purpose of the ReportThe report Maritime Security Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Maritime Security Market Segmentation
Technology Type- Surveillance and Tracking
- Screening and Scanning
- Detectors
- Weather Monitoring
- Geographic Information System
- Communication
- Others
- Training
- Consulting
- Maintenance and Support
- Risk Assessment and Investigation
- Others
- Port and Critical Infrastructure Security
- Coastal Surveillance
- Vessel Security
- Military
- Coast Guards
- Government Agencies
- Others
Strategic Insights
Maritime Security Market Growth Drivers- Offshore Energy Security: Offshore energy assets may be reported to assume increasing importance, especially with new offshore oil, gas, and wind installations rising. Critical points here are supposedly secured through the adoption of underwater surveillance, remote monitoring, and autonomous drones to prevent sabotage, illegal fishing, and other unauthorized access to these offshore energy platforms.
- Cybersecurity in Maritime: Greater incorporation of shipping fleets through much more widespread digital and automated systems raises severe threats associated with cyberattacks on navigation systems, cargo data, and communication networks. It therefore calls for higher demands for advanced maritime cybersecurity solutions to ensure safe and uninterrupted maritime operations.
- Compliance With International Regulations: The pressure to adhere to international security regulations is growing in the maritime industry, which is compelling it to embrace advanced security solutions. International Maritime Organization's International Ship and Port Facility Security Code has set the standards by requiring shipping companies and port facilities to put in place effective security measures against threats such as terrorism, smuggling, and sabotage. Failure to comply with these regulations will attract heavy fines, reputational damage, and operational disruptions. As such, there is a growing need for maritime security solutions that help companies meet these regulatory requirements, from access control and monitoring to risk assessments and emergency response systems. Tightening of security standards and the need for compliance are key drivers of the maritime security market.
- AI-Powered Maritime Security: AI-powered systems would gather data from the humongous information coming in through various channels such as radars, satellites, and surveillance cameras and thus detect suspicious activities piracy threats, or unauthorized vessel movement in real-time. This would go a long way in furthering the situational awareness of coastal security agencies, which consequently implies that even quicker responses are to be anticipated because risks from smuggling, terrorism, and piracy will be relatively abated.
- Blockchain for Maritime Security: Blockchain will introduce security into maritime transactions and vessel authentications. Blockchain will provide immutable records of ownership, cargo manifests, and certificates that will reduce the scope of fraud, smuggling, and illegal trade. It will also ensure safe communication with shipping companies, customs, and security agencies, authenticating goods and vessels in real-time to instill trust throughout the global maritime supply chain.
- Integration of Advanced Surveillance Technologies: One of the most significant trends in the maritime security market is the integration of advanced surveillance technologies. With growing concerns over piracy, smuggling, and other maritime threats, companies are increasingly turning to sophisticated surveillance systems, including radar, satellite monitoring, and drone-based technologies. These solutions allow real-time tracking and monitoring of vessels, ports, and shipping lanes, enhancing situational awareness and response capabilities. For example, the detection of potential threats has become possible with the help of radar and infrared systems. Drones are deployed for patrolling large areas of maritime territory. The demand for such surveillance is becoming increasingly significant with the increasing need to monitor vast maritime environments more efficiently. It thus fuels the demand for integrated, high-tech surveillance solutions that can ensure safety both for vessels and port facilities.
- AI and ML for Threat Detection: The application of AI and ML in the maritime domain for detecting threats is very promising. Such systems can alert authorities automatically and significantly cut down on response time, thereby improving maritime security at large. Thus, this sector offers a unique opportunity for companies specializing in AI-driven surveillance and situational awareness.
- Cybersecurity in Maritime: As maritime operations also borrow more and more of the digital world, the waves of hacking and ransomware attach to vessels and port facilities. There is a big need for specialized cybersecurity solutions to protect against hacking, ransomware, and data breaches in critical maritime infrastructure. Securing automated systems, ship communication networks, and cargo data creates a huge opportunity for companies offering maritime-specific cybersecurity services, as cyberattacks in the sector are seen now more than ever.
- UAVs in Maritime Security: The potential in maritime security that UAVs could offer for coast surveillance and border patrol is their superior ability to monitor wide ocean expanses and track vessels not legally cleared, besides assisting in search and rescue missions. The highly advanced technology fits well with these drones, which can come equipped with cameras of high-definition resolutions, thermal sensors, and GPS tracking systems. Governments as well as private marine operators would find it cost-effective to enhance security in such regions marked by piracy, illegal fishing, as well as territorial conflicts.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Maritime Security Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Maritime Security Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Key companies in this market are: Airbus S.A.S., BAE Systems, Elbit Systems Ltd., Harris Corporation, Honeywell International Inc., Kongsberg Group, Leonardo S.p.A., Northrop Grumman Corporation, Raytheon Anschütz GmbH
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The Maritime security market is expected to register a CAGR of 9.2% from 2023-2031.
Key future trends in this market are - AI-powered data collection from diverse maritime channels to detect real-time threats, blockchain-enabled secure transactions and vessel authentication for fraud prevention, secure communication between shipping stakeholders for greater trust and reduced illegal activities.
The main driving factors of the Maritime security market are: Increasing maritime threats, Growing global trade and shipping, and Technological advancements in surveillance
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Maritime Security Market - By Technology Type
1.3.2Maritime Security Market - By Services
1.3.3Maritime Security Market - By Application
1.3.4Maritime Security Market - By End-User
1.3.5Maritime Security Market - By Region
1.3.5.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.MARITIME SECURITY MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.MARITIME SECURITY MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.MARITIME SECURITY MARKET - GLOBAL MARKET ANALYSIS
6.1.MARITIME SECURITY - GLOBAL MARKET OVERVIEW
6.2.MARITIME SECURITY - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.MARITIME SECURITY MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY TYPE
7.1.OVERVIEW
7.2.TECHNOLOGY TYPE MARKET FORECASTS AND ANALYSIS
7.3.SURVEILLANCE AND TRACKING
7.3.1.Overview
7.3.2.Surveillance and Tracking Market Forecast and Analysis
7.4.SCREENING AND SCANNING
7.4.1.Overview
7.4.2.Screening and Scanning Market Forecast and Analysis
7.5.DETECTORS
7.5.1.Overview
7.5.2.Detectors Market Forecast and Analysis
7.6.WEATHER MONITORING
7.6.1.Overview
7.6.2.Weather Monitoring Market Forecast and Analysis
7.7.GEOGRAPHIC INFORMATION SYSTEM
7.7.1.Overview
7.7.2.Geographic Information System Market Forecast and Analysis
7.8.COMMUNICATION
7.8.1.Overview
7.8.2.Communication Market Forecast and Analysis
7.9.OTHERS
7.9.1.Overview
7.9.2.Others Market Forecast and Analysis
8.MARITIME SECURITY MARKET - REVENUE AND FORECASTS TO 2028 - SERVICES
8.1.OVERVIEW
8.2.SERVICES MARKET FORECASTS AND ANALYSIS
8.3.TRAINING
8.3.1.Overview
8.3.2.Training Market Forecast and Analysis
8.4.CONSULTING
8.4.1.Overview
8.4.2.Consulting Market Forecast and Analysis
8.5.MAINTENANCE AND SUPPORT
8.5.1.Overview
8.5.2.Maintenance and Support Market Forecast and Analysis
8.6.RISK ASSESSMENT AND INVESTIGATION
8.6.1.Overview
8.6.2.Risk Assessment and Investigation Market Forecast and Analysis
8.7.OTHERS
8.7.1.Overview
8.7.2.Others Market Forecast and Analysis
9.MARITIME SECURITY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.PORT AND CRITICAL INFRASTRUCTURE SECURITY
9.3.1.Overview
9.3.2.Port and Critical Infrastructure Security Market Forecast and Analysis
9.4.COASTAL SURVEILLANCE
9.4.1.Overview
9.4.2.Coastal Surveillance Market Forecast and Analysis
9.5.VESSEL SECURITY
9.5.1.Overview
9.5.2.Vessel Security Market Forecast and Analysis
10.MARITIME SECURITY MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
10.1.OVERVIEW
10.2.END-USER MARKET FORECASTS AND ANALYSIS
10.3.MILITARY
10.3.1.Overview
10.3.2.Military Market Forecast and Analysis
10.4.COAST GUARDS
10.4.1.Overview
10.4.2.Coast Guards Market Forecast and Analysis
10.5.GOVERNMENT AGENCIES
10.5.1.Overview
10.5.2.Government Agencies Market Forecast and Analysis
10.6.OTHERS
10.6.1.Overview
10.6.2.Others Market Forecast and Analysis
11.MARITIME SECURITY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America Maritime Security Market Overview
11.1.2North America Maritime Security Market Forecasts and Analysis
11.1.3North America Maritime Security Market Forecasts and Analysis - By Technology Type
11.1.4North America Maritime Security Market Forecasts and Analysis - By Services
11.1.5North America Maritime Security Market Forecasts and Analysis - By Application
11.1.6North America Maritime Security Market Forecasts and Analysis - By End-User
11.1.7North America Maritime Security Market Forecasts and Analysis - By Countries
11.1.7.1United States Maritime Security Market
11.1.7.1.1United States Maritime Security Market by Technology Type
11.1.7.1.2United States Maritime Security Market by Services
11.1.7.1.3United States Maritime Security Market by Application
11.1.7.1.4United States Maritime Security Market by End-User
11.1.7.2Canada Maritime Security Market
11.1.7.2.1Canada Maritime Security Market by Technology Type
11.1.7.2.2Canada Maritime Security Market by Services
11.1.7.2.3Canada Maritime Security Market by Application
11.1.7.2.4Canada Maritime Security Market by End-User
11.1.7.3Mexico Maritime Security Market
11.1.7.3.1Mexico Maritime Security Market by Technology Type
11.1.7.3.2Mexico Maritime Security Market by Services
11.1.7.3.3Mexico Maritime Security Market by Application
11.1.7.3.4Mexico Maritime Security Market by End-User
11.2.EUROPE
11.2.1Europe Maritime Security Market Overview
11.2.2Europe Maritime Security Market Forecasts and Analysis
11.2.3Europe Maritime Security Market Forecasts and Analysis - By Technology Type
11.2.4Europe Maritime Security Market Forecasts and Analysis - By Services
11.2.5Europe Maritime Security Market Forecasts and Analysis - By Application
11.2.6Europe Maritime Security Market Forecasts and Analysis - By End-User
11.2.7Europe Maritime Security Market Forecasts and Analysis - By Countries
11.2.7.1Germany Maritime Security Market
11.2.7.1.1Germany Maritime Security Market by Technology Type
11.2.7.1.2Germany Maritime Security Market by Services
11.2.7.1.3Germany Maritime Security Market by Application
11.2.7.1.4Germany Maritime Security Market by End-User
11.2.7.2France Maritime Security Market
11.2.7.2.1France Maritime Security Market by Technology Type
11.2.7.2.2France Maritime Security Market by Services
11.2.7.2.3France Maritime Security Market by Application
11.2.7.2.4France Maritime Security Market by End-User
11.2.7.3Italy Maritime Security Market
11.2.7.3.1Italy Maritime Security Market by Technology Type
11.2.7.3.2Italy Maritime Security Market by Services
11.2.7.3.3Italy Maritime Security Market by Application
11.2.7.3.4Italy Maritime Security Market by End-User
11.2.7.4United Kingdom Maritime Security Market
11.2.7.4.1United Kingdom Maritime Security Market by Technology Type
11.2.7.4.2United Kingdom Maritime Security Market by Services
11.2.7.4.3United Kingdom Maritime Security Market by Application
11.2.7.4.4United Kingdom Maritime Security Market by End-User
11.2.7.5Russia Maritime Security Market
11.2.7.5.1Russia Maritime Security Market by Technology Type
11.2.7.5.2Russia Maritime Security Market by Services
11.2.7.5.3Russia Maritime Security Market by Application
11.2.7.5.4Russia Maritime Security Market by End-User
11.2.7.6Rest of Europe Maritime Security Market
11.2.7.6.1Rest of Europe Maritime Security Market by Technology Type
11.2.7.6.2Rest of Europe Maritime Security Market by Services
11.2.7.6.3Rest of Europe Maritime Security Market by Application
11.2.7.6.4Rest of Europe Maritime Security Market by End-User
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific Maritime Security Market Overview
11.3.2Asia-Pacific Maritime Security Market Forecasts and Analysis
11.3.3Asia-Pacific Maritime Security Market Forecasts and Analysis - By Technology Type
11.3.4Asia-Pacific Maritime Security Market Forecasts and Analysis - By Services
11.3.5Asia-Pacific Maritime Security Market Forecasts and Analysis - By Application
11.3.6Asia-Pacific Maritime Security Market Forecasts and Analysis - By End-User
11.3.7Asia-Pacific Maritime Security Market Forecasts and Analysis - By Countries
11.3.7.1Australia Maritime Security Market
11.3.7.1.1Australia Maritime Security Market by Technology Type
11.3.7.1.2Australia Maritime Security Market by Services
11.3.7.1.3Australia Maritime Security Market by Application
11.3.7.1.4Australia Maritime Security Market by End-User
11.3.7.2China Maritime Security Market
11.3.7.2.1China Maritime Security Market by Technology Type
11.3.7.2.2China Maritime Security Market by Services
11.3.7.2.3China Maritime Security Market by Application
11.3.7.2.4China Maritime Security Market by End-User
11.3.7.3India Maritime Security Market
11.3.7.3.1India Maritime Security Market by Technology Type
11.3.7.3.2India Maritime Security Market by Services
11.3.7.3.3India Maritime Security Market by Application
11.3.7.3.4India Maritime Security Market by End-User
11.3.7.4Japan Maritime Security Market
11.3.7.4.1Japan Maritime Security Market by Technology Type
11.3.7.4.2Japan Maritime Security Market by Services
11.3.7.4.3Japan Maritime Security Market by Application
11.3.7.4.4Japan Maritime Security Market by End-User
11.3.7.5South Korea Maritime Security Market
11.3.7.5.1South Korea Maritime Security Market by Technology Type
11.3.7.5.2South Korea Maritime Security Market by Services
11.3.7.5.3South Korea Maritime Security Market by Application
11.3.7.5.4South Korea Maritime Security Market by End-User
11.3.7.6Rest of Asia-Pacific Maritime Security Market
11.3.7.6.1Rest of Asia-Pacific Maritime Security Market by Technology Type
11.3.7.6.2Rest of Asia-Pacific Maritime Security Market by Services
11.3.7.6.3Rest of Asia-Pacific Maritime Security Market by Application
11.3.7.6.4Rest of Asia-Pacific Maritime Security Market by End-User
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa Maritime Security Market Overview
11.4.2Middle East and Africa Maritime Security Market Forecasts and Analysis
11.4.3Middle East and Africa Maritime Security Market Forecasts and Analysis - By Technology Type
11.4.4Middle East and Africa Maritime Security Market Forecasts and Analysis - By Services
11.4.5Middle East and Africa Maritime Security Market Forecasts and Analysis - By Application
11.4.6Middle East and Africa Maritime Security Market Forecasts and Analysis - By End-User
11.4.7Middle East and Africa Maritime Security Market Forecasts and Analysis - By Countries
11.4.7.1South Africa Maritime Security Market
11.4.7.1.1South Africa Maritime Security Market by Technology Type
11.4.7.1.2South Africa Maritime Security Market by Services
11.4.7.1.3South Africa Maritime Security Market by Application
11.4.7.1.4South Africa Maritime Security Market by End-User
11.4.7.2Saudi Arabia Maritime Security Market
11.4.7.2.1Saudi Arabia Maritime Security Market by Technology Type
11.4.7.2.2Saudi Arabia Maritime Security Market by Services
11.4.7.2.3Saudi Arabia Maritime Security Market by Application
11.4.7.2.4Saudi Arabia Maritime Security Market by End-User
11.4.7.3U.A.E Maritime Security Market
11.4.7.3.1U.A.E Maritime Security Market by Technology Type
11.4.7.3.2U.A.E Maritime Security Market by Services
11.4.7.3.3U.A.E Maritime Security Market by Application
11.4.7.3.4U.A.E Maritime Security Market by End-User
11.4.7.4Rest of Middle East and Africa Maritime Security Market
11.4.7.4.1Rest of Middle East and Africa Maritime Security Market by Technology Type
11.4.7.4.2Rest of Middle East and Africa Maritime Security Market by Services
11.4.7.4.3Rest of Middle East and Africa Maritime Security Market by Application
11.4.7.4.4Rest of Middle East and Africa Maritime Security Market by End-User
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America Maritime Security Market Overview
11.5.2South and Central America Maritime Security Market Forecasts and Analysis
11.5.3South and Central America Maritime Security Market Forecasts and Analysis - By Technology Type
11.5.4South and Central America Maritime Security Market Forecasts and Analysis - By Services
11.5.5South and Central America Maritime Security Market Forecasts and Analysis - By Application
11.5.6South and Central America Maritime Security Market Forecasts and Analysis - By End-User
11.5.7South and Central America Maritime Security Market Forecasts and Analysis - By Countries
11.5.7.1Brazil Maritime Security Market
11.5.7.1.1Brazil Maritime Security Market by Technology Type
11.5.7.1.2Brazil Maritime Security Market by Services
11.5.7.1.3Brazil Maritime Security Market by Application
11.5.7.1.4Brazil Maritime Security Market by End-User
11.5.7.2Argentina Maritime Security Market
11.5.7.2.1Argentina Maritime Security Market by Technology Type
11.5.7.2.2Argentina Maritime Security Market by Services
11.5.7.2.3Argentina Maritime Security Market by Application
11.5.7.2.4Argentina Maritime Security Market by End-User
11.5.7.3Rest of South and Central America Maritime Security Market
11.5.7.3.1Rest of South and Central America Maritime Security Market by Technology Type
11.5.7.3.2Rest of South and Central America Maritime Security Market by Services
11.5.7.3.3Rest of South and Central America Maritime Security Market by Application
11.5.7.3.4Rest of South and Central America Maritime Security Market by End-User
12.INDUSTRY LANDSCAPE
12.1.MERGERS AND ACQUISITIONS
12.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3.NEW PRODUCT LAUNCHES
12.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13.MARITIME SECURITY MARKET, KEY COMPANY PROFILES
13.1.AIRBUS S.A.S.
13.1.1.Key Facts
13.1.2.Business Description
13.1.3.Products and Services
13.1.4.Financial Overview
13.1.5.SWOT Analysis
13.1.6.Key Developments
13.2.BAE SYSTEMS
13.2.1.Key Facts
13.2.2.Business Description
13.2.3.Products and Services
13.2.4.Financial Overview
13.2.5.SWOT Analysis
13.2.6.Key Developments
13.3.ELBIT SYSTEMS LTD.
13.3.1.Key Facts
13.3.2.Business Description
13.3.3.Products and Services
13.3.4.Financial Overview
13.3.5.SWOT Analysis
13.3.6.Key Developments
13.4.HARRIS CORPORATION
13.4.1.Key Facts
13.4.2.Business Description
13.4.3.Products and Services
13.4.4.Financial Overview
13.4.5.SWOT Analysis
13.4.6.Key Developments
13.5.HONEYWELL INTERNATIONAL INC.
13.5.1.Key Facts
13.5.2.Business Description
13.5.3.Products and Services
13.5.4.Financial Overview
13.5.5.SWOT Analysis
13.5.6.Key Developments
13.6.KONGSBERG GROUP
13.6.1.Key Facts
13.6.2.Business Description
13.6.3.Products and Services
13.6.4.Financial Overview
13.6.5.SWOT Analysis
13.6.6.Key Developments
13.7.LEONARDO S.P.A.
13.7.1.Key Facts
13.7.2.Business Description
13.7.3.Products and Services
13.7.4.Financial Overview
13.7.5.SWOT Analysis
13.7.6.Key Developments
13.8.NORTHROP GRUMMAN CORPORATION
13.8.1.Key Facts
13.8.2.Business Description
13.8.3.Products and Services
13.8.4.Financial Overview
13.8.5.SWOT Analysis
13.8.6.Key Developments
13.9.RAYTHEON ANSCHüTZ GMBH
13.9.1.Key Facts
13.9.2.Business Description
13.9.3.Products and Services
13.9.4.Financial Overview
13.9.5.SWOT Analysis
13.9.6.Key Developments
13.10.SAAB AB
13.10.1.Key Facts
13.10.2.Business Description
13.10.3.Products and Services
13.10.4.Financial Overview
13.10.5.SWOT Analysis
13.10.6.Key Developments
14.APPENDIX
14.1.ABOUT THE INSIGHT PARTNERS
14.2.GLOSSARY OF TERMS
1.Airbus S.A.S.
2.BAE Systems
3.Elbit Systems Ltd.
4.Harris Corporation
5.Honeywell International Inc.
6.Kongsberg Group
7.Leonardo S.p.A.
8.Northrop Grumman Corporation
9.Raytheon Anschütz GmbH
10.Saab AB
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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