1 Global Maritime Information Market Insight Analysis
The global maritime information market is valued at USD 7,113.7 million in 2024, growing at a CAGR of 4.18% from 2024 to 2033.
Maritime information refers to the collection, sharing, and analysis of data related to maritime activities. This includes information on vessel movements, navigational conditions, weather patterns, and maritime safety. The primary purpose of maritime information systems is to enhance the safety and efficiency of maritime operations by providing real-time data and analytics to ship operators, regulatory bodies, and other stakeholders. These systems play a vital role in preventing maritime accidents, combating piracy, and ensuring compliance with international maritime regulations.
Figure Global Maritime Information Market Size (M USD) and CAGR (2024-2033)
2 Maritime Information Market Growth Drivers and Restraints
Marine information solutions play a key role in ensuring economic security and responding to marine threats. Global trade liberalization has led to a sharp increase in the number of ocean-going ships, and a surge in demand for marine information solutions such as ship tracking and secure communications. The International Maritime Organization has forced ships to use the Automatic Identification System (AIS), prompting manufacturers to increase their R&D investment and drive market growth. For example, the AIS system can monitor ship dynamics in real time, effectively avoid collision accidents, and ensure navigation safety. The market value has increased from US$1.113 billion in 2016 to US$1.399 billion in 2021.
Global economic growth has driven the booming development of marine trade, and shipping has become the main mode of freight with its advantages of low cost and large volume. The development of marine trade has led to an increase in the demand for marine information by related parties. For example, shipping companies need to use marine information to optimize routes, and port operators need to grasp the dynamics of ships to improve operational efficiency, thereby promoting the development of the marine information industry.
The expansion of network scale has led to the proliferation of network hackers and viruses, which seriously threatens marine information security. Some companies or organizations attack competitors by stealing network information, which requires related companies to invest a lot of resources to ensure information security, increase operating costs, and hinder market growth. For example, hacker attacks may lead to the leakage of ship positioning information, endangering navigation safety and cargo safety.
The pollution problem of the marine industry is prominent, and greenhouse gas emissions from the shipping industry account for 3% of the global total. With the increase in environmental awareness, the international community has become more stringent in its environmental protection requirements for the shipping industry, and has implemented sulfur restrictions and carbon emission standards, which may affect the development of the marine industry and hinder the growth of the marine information market. For example, strict environmental protection policies may cause some shipping companies to reduce their operating scale and reduce their demand for marine information.
3 Technological Innovations in the Maritime Information Market
Many companies have actively invested in technology research and development, with remarkable results. Fujitsu introduced high-precision AI technology to predict the risk of ship collisions. After field testing by the Japan Coast Guard, it can reduce about 90% of unnecessary alarms, improve navigation safety and traffic management efficiency. In addition, 5G and edge computing technologies are also accelerating their application in the marine field. The U.S. Naval Postgraduate School and AT&T are working together on related projects, which are expected to provide high-speed, low-latency communication support for national defense and homeland security.
Technological innovation promotes the digital upgrade of the marine information industry. Technologies such as synthetic aperture radar and optical satellite imagery are widely used in marine monitoring and management. Maxar Technologies’ Crow’s Nest MMS system uses these technologies to help marine law enforcement agencies effectively manage vulnerable fish populations and achieve accurate monitoring and evidence collection of ships.
Corporate mergers and acquisitions integrate resources, optimize structures, and enhance competitiveness. In 2020, Warburg Pincus acquired Inmarsat, which strengthened its strength in the field of global mobile satellite communications, promoted business expansion and technological innovation, and also prompted other companies to adjust their strategies, intensified market competition, and promoted the concentration of industry resources in advantageous companies.
Mergers and acquisitions promote technology exchange and integration among enterprises. Different enterprises have their own strengths in satellite communications, electronic equipment manufacturing, information technology and other fields. After mergers and acquisitions, they can achieve technological complementarity, accelerate the innovation process, and provide the market with more advanced and comprehensive marine information products and services.
4 Global Maritime Information Market Size by Type
The AIS market is a crucial component of the maritime information industry, providing essential vessel tracking and identification services. In 2024, the AIS market is projected to be valued at 1628.4 million US dollars. This system is widely used for collision avoidance, vessel traffic management, and maritime security. The growth in AIS revenue is driven by the increasing demand for real-time vessel tracking and regulatory requirements for maritime safety. AIS systems are mandatory for most commercial vessels, ensuring compliance with international maritime regulations and enhancing operational efficiency.
GMDSS is another vital segment of the maritime information market, designed to provide distress alerting and safety communication services. In 2024, the GMDSS market is expected to reach 1834.4 million US dollars. This system is essential for maritime safety, enabling vessels to send and receive distress signals and safety information. The growth in GMDSS revenue is driven by the need for reliable communication systems in emergency situations and the increasing number of vessels equipped with GMDSS-compliant devices. The International Maritime Organization (IMO) mandates the use of GMDSS for all SOLAS vessels, further boosting its market value.
The LRIT system is designed for the long-range tracking and identification of vessels, ensuring global maritime security and compliance. In 2024, the LRIT market is projected to be valued at 994.8 million US dollars. LRIT systems are essential for monitoring vessel movements in international waters and providing critical data for maritime surveillance. The growth in LRIT revenue is driven by the increasing need for global vessel tracking and the implementation of international regulations requiring LRIT systems on all vessels above a certain gross tonnage.
VMS is a critical tool for monitoring and managing vessel operations, particularly in the fishing and maritime transportation sectors. In 2024, the VMS market is expected to reach 685.8 million US dollars. VMS systems provide real-time data on vessel positions, fishing activities, and compliance with maritime regulations. The growth in VMS revenue is driven by the increasing demand for sustainable fishing practices and the need for efficient vessel management. Governments and regulatory bodies are increasingly mandating VMS installations to ensure compliance with fishing quotas and maritime laws.
Table Global Maritime Information Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
|---|---|
AIS | 1628.4 |
GMDSS | 1834.4 |
LRIT System | 994.8 |
Vessel Monitoring System | 685.8 |
Others | 1970.4 |
5 Global Maritime Information Market Size by Application
The commercial sector is the dominant force in the global maritime information market. In 2024, its revenue is projected to be around $5,678.8 million. The commercial segment encompasses a wide range of activities, including shipowners, operators, ship agencies, port operations, maritime legal services, marine insurance, and shipbuilding and maintenance. With the continuous growth of global trade, the shipping industry, a major part of the commercial application, has an increasing demand for maritime information.
For example, shipowners rely on accurate vessel monitoring systems and route – planning information to optimize operations, reduce costs, and enhance safety. Port operations also benefit from maritime information as it helps in efficient vessel scheduling, cargo handling, and resource allocation. The growth of e – commerce has further spurred the need for real – time information on ship movements, enabling seamless supply chain operations.
The defense application of the maritime information market is also of great significance. In 2024, the defense segment is expected to generate revenue of approximately $860.6 million. Given the numerous threats at sea, such as piracy, terrorism, and illegal immigration, coastal defense departments worldwide heavily depend on maritime information.
They use advanced tracking and surveillance systems to monitor sea areas, identify potential threats, and respond promptly. For instance, long – range tracking and identification (LRIT) systems and high – tech radar technologies are crucial for defense forces to safeguard national maritime boundaries and protect naval assets. The increasing geopolitical tensions in some regions have also led to a rise in defense budgets, driving the demand for more advanced and reliable maritime information solutions.
The government application of the maritime information market has its own role in the overall market structure. In 2024, government – related revenue is estimated to be about $574.4 million. Governments use maritime information for various purposes, including managing the shipping industry, formulating maritime policies, and ensuring maritime safety. Maritime administrations rely on automatic identification systems (AIS) and other information – gathering tools to monitor national ships, enforce laws and regulations, and manage shipping activities within territorial waters. They also use this information for civil search and rescue operations, preventing and combating marine pollution, and investigating marine accidents.
Table Global Maritime Information Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
|---|---|
Government | 574.4 |
Defense | 860.6 |
Commercial | 5678.8 |
6 Global Maritime Information Market Size by Region
North America has been a major player in the global maritime information market. In 2024, the market revenue in North America is expected to reach around $1,956.9 million. The region benefits from its advanced technology, well – developed economy, and strong shipping industry. American companies are at the forefront of technology development in the maritime information field. For example, Garmin Ltd., an American multinational technology company, offers a wide range of GPS – based maritime information products.
The U.S. has a large number of ports and a high volume of maritime trade, which drives the demand for maritime information services such as vessel monitoring and navigation assistance. However, the market in North America also faces challenges. The COVID – 19 pandemic has had a significant impact on its economy, affecting the shipping and related industries. Although the market is showing signs of recovery, the growth rate may be slower compared to pre – pandemic levels.
Europe is another important region in the global maritime information market. In 2024, the market revenue here is projected to be approximately $1,852.2 million. The European Union has a large number of member states with extensive coastlines and a long – standing shipping tradition. European companies like Kongsberg Gruppen ASA and Thales Group are well – known in the industry, providing high – tech maritime information solutions.
The EU’s integrated maritime policy, which emphasizes research and innovation, blue growth, and maritime spatial planning, has promoted the development of the maritime information market. For example, initiatives related to marine data and knowledge sharing have led to the improvement of information services. However, the region also faces challenges such as economic disparities among member states, which may affect the uniform development of the market in different countries.
The Asia – Pacific region is a rapidly growing market for maritime information. In 2024, China’s market revenue is expected to be around $853.9 million, and Japan’s is about $567.3 million. China has witnessed remarkable economic growth in recent decades, and its status as the world’s largest exporter has led to a booming shipping industry. The Chinese government’s support for the development of the maritime economy, along with continuous technological innovation, has driven the growth of the maritime information market.
In Japan, with its highly developed economy and advanced technology, the maritime information market also has great potential. Japanese companies like Furuno and Japan Radio Co., Ltd. are actively involved in providing maritime information products and services. However, the region also faces challenges such as environmental protection requirements and competition among countries in the market.
The Middle East and Africa region has a unique position in the global maritime information market. In 2024, the market revenue in this region is estimated to be around $409.8 million. The Middle East, with its abundant oil resources and active oil – related maritime trade, has a strong demand for maritime information, especially in areas related to oil transportation safety and vessel monitoring. African countries, on the other hand, are gradually developing their maritime industries. Nigeria and South Africa, for example, are investing in improving their maritime infrastructure and information systems. However, the region also faces challenges such as political instability in some areas, which may affect the development of the maritime information market.
South America also contributes to the global maritime information market. In 2024, the market revenue in South America is expected to be about $379.5 million. Brazil, as the largest economy in the region, has a significant influence on the market. The Brazilian government has been promoting the development of the maritime industry, which has led to an increased demand for maritime information. However, the region has faced economic fluctuations in recent years, which has had an impact on the growth rate of the maritime information market.
Figure Global Maritime Information Market Size (M USD) by Region in 2024
7 Global Maritime Information Market Analysis by Major Players
7.1 Inmarsat plc
Company Introduction and Business Overview:
Inmarsat plc is a British satellite communications company established in 1979. It provides global mobile satellite communication services for maritime, aviation, government, and enterprise sectors. Inmarsat’s network consists of 11 geostationary orbit communication satellites that offer reliable communication services in remote areas.
Inmarsat’s primary focus is on providing satellite communication solutions that enhance maritime safety, operational efficiency, and regulatory compliance. Its products and services are widely used by governments, aid agencies, media, and enterprises that require reliable communication in areas without a ground network.
Products:
Inmarsat’s flagship product for the maritime sector is the Inmarsat C system, which is approved by the International Maritime Organization (IMO) for Global Maritime Distress and Safety System (GMDSS) applications. This system provides ship-to-shore, shore-to-ship, and ship-to-ship communication services, including email, SMS, and weather updates. Additionally, Inmarsat offers advanced broadband services like FleetBroadband and Fleet Xpress, which provide high-speed internet and data services for vessels.
Market Performance in 2021:
In 2021, Inmarsat plc reported a revenue of 518.2 million US dollars with a gross margin of 80.89%.
7.2 Furuno
Company Introduction and Business Overview:
Furuno is a Japanese electronics company founded in 1938. It specializes in the production of marine electronics, including radar systems, fish finders, navigation equipment, and GPS devices. Furuno is renowned for its innovative and reliable products that enhance maritime safety and efficiency.
Furuno’s business is centered around providing advanced marine electronics solutions for commercial and recreational vessels. Its products are designed to improve navigation, safety, and operational efficiency in maritime environments. Furuno’s global presence and extensive product range make it a key player in the maritime information industry.
Products:
One of Furuno’s key products is the X/S-BAND BlackBox RADAR FAR-22×8-BB series. This advanced radar system offers enhanced dynamic range, target tracking, and clutter reduction features, making it ideal for maritime navigation and collision avoidance. Furuno also offers a range of navigation and communication systems, including AIS (Automatic Identification System) devices, which are essential for vessel tracking and safety.
Market Performance in 2021:
In 2021, Furuno achieved a revenue of 470.49 million US dollars with a gross margin of 55.07%.
7.3 Garmin Ltd.
Company Introduction and Business Overview:
Garmin Ltd. is an American multinational technology company established in 1989. It specializes in GPS technology and wearable devices for automotive, aviation, marine, outdoor, and sports applications. Garmin is known for its innovative products and strong market presence in multiple industries.
Garmin’s business in the maritime sector focuses on providing GPS-based navigation and communication solutions. Its products are designed to enhance safety, efficiency, and user experience for both commercial and recreational boaters. Garmin’s extensive product range and technological expertise make it a leading provider of maritime information systems.
Products:
Garmin’s key product in the maritime sector is its Automatic Identification System (AIS), which enables vessels to identify and track other ships in real-time. This system is crucial for collision avoidance and maritime safety. Garmin also offers a range of chartplotters, GPS devices, and marine communication systems that integrate seamlessly with AIS technology.
Market Performance in 2021:
In 2021, Garmin Ltd. reported a revenue of 365.37 million US dollars with a gross margin of 57.71%.