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Ship Security Alert System Market to Witness Stellar Revenue Growth Across Top Regional Pockets

Ship Security Alert System is part of the ISPS (International Ship and Port Facility Security) code, a safety measure that contributes to the International Maritime Organization’s (IMO)’s efforts for strengthening ship’s security. Ship Security Alert System (SSAS) allows transmission of a silent security alert to a flag state authority when the security of the ship is under threat or has been compromised.

The Ship Security Alert System (SSAS) does not produce any kind of audio or visual signals on the ship instead perform silent operations and transfers alerts in a serial manner. The recipient of the signal may differ vastly, as it may be the ship owner, flag state or Ship Security Alert System Management Company further they may transfer the signal to National Law-Enforcement Agency.

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Ship Security Alert System was introduced in December 2002, when International Maritime Organization (IMO) issued some changes in SOLAS Chapter XI-2, Regulation 6. Owing to several benefits such as global coverage, suitable for asset tracking, web based tracking, up gradation over older GMDSS version, fully maritime focused among others, the demand for Ship Security Alert System (SSAS) is estimated to grow with significant pace. This in turn is anticipated to considerably contribute to the growing market of global Ship security Alert System during the forecast period.

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FACTS AT A GLANCE

Companies: Stratum Five,Cobham Plc,ElektronikLab India Pvt Ltd.,Furuno Electric Co., Ltd.,Polaris Electronics A/S,EMA Group

Coverage: All major geographies and key segments

Segments: Type(Integrated Ship Security Alert System,Dedicated Ship Security Alert System); By type of marine vessel (Passenger Ships and Ferries,Oil and Chemical Tankers,Bulk Carriers,General Cargo,Offshore Vessels)

Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

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ABSTRACT-

Growing travel and tourism industry is anticipated to be one of the key factor driving the growth of ship security alert system market during the forecast period. Rising number of tourists taking part in marine tourism has led to higher production and sales of marine vessels and thereby increasing the sales of ship security alert system market across the globe.

As one of the important international trades in the world, seaborne transportation is estimated to play a pivot role in the world’s rapid industrialization and advancement, permitting the transportation of very large volumes of processed and raw materials as well as water, food and other products. Gradually growing global sea borne trade is estimated to significantly impact the growth of Ship Security Alert System during the forecast period.

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