Ship Security Alert System Market 2022
Ship Security Alert System Market Segmented By Product such as Integrated Ship Security Alert System and Dedicated Ship Security Alert System
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.
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The Ship Security Alert System (SSAS) performs silent operations and serially transmits alerts rather than producing any kind of aural or visual signs on the ship. The signal’s recipient can be the ship’s owner, the flag state, or the Ship Security Alert System Management Company. They can also send the signal to the National Law-Enforcement Agency.
In December 2002, the International Maritime Organization (IMO) modified SOLAS Chapter XI-2, Regulation 6, which led to the introduction of the Ship Security Alert System. The market for Ship Security Alert System (SSAS) is anticipated to increase significantly over the coming years due to a number of advantages including global coverage, suitability for asset tracking, web-based tracking, upgrade over older GMDSS versions, and a totally maritime focus, among others. Consequently, it is anticipated that during the forecast period, this will significantly contribute to the growing market for global Ship security Alert System.
Ship Security Alert System Market: Key Participants
Examples of some of the market participants identified across the value chain of the global Ship Security Alert System market include:
- Stratum Five
- Cobham Plc
- ElektronikLab India Pvt Ltd.
- Furuno Electric Co., Ltd.
- Polaris Electronics A/S
- EMA Group
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Ship Security Alert System Market: Segments
By type of Product
- 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
Ship Security Alert System Market: Dynamics
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.
Ship Security Alert System Market: Regional Outlook
The shipbuilding industry is experiencing a dramatic wave of change compelled by the developing outlines and growing volumes of seaborne trade. Rising demands to support offshore activities, such as in the examination and production of oil and gas also adds to the altering landscape of the industry. Technology trends will definitely alter business model and propel the ship safety and security market to be more competitive in the global arena.
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This in turn is estimated to positively impact the global ship security alert system market in the coming years. Further, the scope for further economic interdependence is still strong for many countries and a large potential for an increase in economic integration within South Asia, Latin America and especially within Sub-Saharan Africa to reinforce the future outlook for the global trade.
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