GLOBAL UNDERWATER SECURITY SYSTEM MARKET SIZE  (2023 – 2030)

Global Underwater Security System Market is estimated to be worth USD 10.14 Billion in 2023 and is projected to reach a value of USD 15.72 Billion by 2030, growing at a CAGR of 5.63% during the forecast period 2023-2030.

Using the techniques, devices, and technologies that make up an underwater security system, infrastructure, structures, and valuables are safeguarded from a variety of security threats. Sonar systems, acoustic devices, and other undersea security equipment serve as the system's main building blocks and aid in the detection of potential dangers like divers, underwater vehicles, and mines. Additional uses for the technology include port security, military activities, and the defence of offshore oil and gas sites. Here, only a few examples are given. The market for underwater security systems is expanding as a result of two key factors: expanding maritime commerce and the rising demand for maritime security.

There are numerous choices for protecting property, structures, and machinery beneath the sea accessible on the quickly growing market for underwater security systems. The market is expanding as a result of a number of important factors, such as the increasing demand for maritime security, the growing worry over the security of offshore oil and gas infrastructure, and the growth of maritime trade. There are a large number of players in this fiercely competitive business. As the demand for undersea security systems increases in countries like China, India, and Japan, the Asia Pacific area is anticipated to grow quickly. 

Global Underwater Security System Market Drivers:

The increasing need for Maritime Security is fuelling the demand for underwater security systems.

The rising demand for maritime security is one of the main drivers of the undersea security systems industry. The marine industry is a key component of the global economy because more than 90% of all trade is conducted by water. However, security threats like smuggling, illegal immigration, and kidnapping also seriously endanger the safety and security of ships and the people on board, making the maritime industry especially vulnerable. Underwater security systems, such as sonar and acoustic devices, can be used to find and spot possible security threats, enabling authorities to move quickly and halt any security-related incidents. The need for offshore oil and gas facility protection, rising concerns over the safety and security of ships and their personnel, other security-related issues, and a propelling terrorist danger are all driving up demand for maritime security. The market for undersea security systems is expanding as a result of these reasons.

The rise in Maritime Trade is boosting the need for underwater security devices and systems.

The growth of maritime trade is another important element influencing the market for underwater security devices. Since water transports more than 90% of all business, marine trade is the backbone of the world economy. The development of marine trade is primarily being propelled by the increasing demand for goods and commodities from developing nations, the growth of e-commerce, and the globalization of supply chains. The growth of marine trade, however, also poses significant security danger issues. With the number of ships increasing and logistic networks becoming more complex, it is difficult to ensure the protection and security of ships and their cargo. Sonar systems and acoustic devices are examples of underwater security systems that can be used to discover and identify potential security threats, allowing officials to take prompt action and stop any security events. As businesses and governments look to safeguard their facilities against security risks, the increase in maritime traffic is fuelling demand for underwater security systems. The market for undersea security systems is escalating as a result, and businesses are spending money on R&D to create sophisticated underwater security systems to satisfy the rising demand.

Global Underwater Security System Market Challenges:

One of the biggest problems the market for undersea security systems is presently facing is the cost of the devices. Underwater security system creation and use come at a high cost in terms of R&D, production, implementation, and upkeep. These systems may not be extensively utilised because of their high cost, particularly in developing countries and small and medium-sized companies that may have limited budgets for security systems. Due to their expensive cost, underwater security systems may also be less efficient than other security systems, like land-based systems. As a result, a delayed uptake of underwater safety devices could hinder the market's growth. Governments and businesses are investing heftily in R&D to make underwater safety systems accessible in order to address this issue.

Global Underwater Security System Market Opportunities:

One of the major markets for underwater security systems is the desire for unmanned undersea vehicles. (UUVs). Marine protection, oil and gas extraction, and oceanographic research are a few uses for UUVs. UUVs are capable of carrying a range of imaging and sensing equipment to detect dangers and perform underwater espionage. Modern underwater security systems that can be used in combination with UUVs to improve coastal security can be designed and implemented thanks to the arising demand for UUVs. 

COVID-19 Impact on Global Underwater Security System Market:

The COVID-19 outbreak has had a detrimental effect on the global economy as well as the market for underwater security equipment. Due to the pandemic’s impact on supply networks, projects have been postponed and cancelled. Undersea safety gadget sales have decreased in some regions as well. The travel restrictions and shutdown procedures have had an effect on the production and dissemination of underwater security systems, leading to a shortage of tools and components. The COVID-19 pandemic has, however, benefited the market for undersea security gear. Undersea security systems are now more important than ever due to the escalated threat the pandemic poses to maritime security, including hijacking, smuggling, and illegal immigration. The implementation of sophisticated underwater security systems has been prompted by governments and maritime security organizations’ recognition of the need to reinforce their security infrastructure in order to handle these challenges. Additionally, the pandemic has sped up the creation of remote control and automated systems, which can be used to improve the powers of underwater security systems.

Global Underwater Security System Market Recent Developments:

• In June 2022, DSIT presented its KnightShield mobile, task force underwater security system at UDT 2022. The system provided multi-ship protection from swimmers, UAVs, SDVs, and sabotage attempts. It is designed to secure ports, port entrances, and designated port basin areas. KnightShield is a cutting-edge solution for maritime defense and security.

• In October 2022, Saab received an order for additional Double Eagle SAROV systems from Poland to be used for safe sea mine disposal. The systems will be delivered and operated on the Polish Navy's three new Kormoran II-class Mine Countermeasure Vessels in 2026-2027.

GLOBAL UNDERWATER SECURITY SYSTEM  MARKET REPORT COVERAGE:

Global Underwater Security System Market Segmentation:

Global Underwater Security System Market Segmentation: By Type

• Diver Detection Sonar (DDS) System

• Harbor Surveillance System (HSS)

• Underwater Communication System

• Intrusion Detection System

• Underwater Robots

Diver detection sonar (DDS) systems, harbour surveillance systems (HSS), underwater communication systems, intruder detection systems, and underwater robots are the different types of undersea security systems available on the market today. Due to their capacity to identify and monitor divers in real-time, diver detection sonar (DDS) systems are anticipated to command the biggest market share. Due to the rising demand for surveillance and tracking of ports and harbours, the harbour surveillance systems (HSS) market is anticipated to expand at the maximum CAGR during the forecast period. The sector for intruder detection systems is also anticipated to expand considerably as a result of propelling worries about the security of remote oil and gas facilities. Due to the growing use of wireless communication technologies in undersea applications, the market for underwater communication systems is anticipated to expand steadily.

Global Underwater Security System Market Segmentation: By End-use

• Naval Defense

• Offshore Rigs

• Ports & Terminals

• Maritime Security

Naval defense, offshore platforms, ports and facilities, and marine security are the four end-use categories into which the worldwide underwater security system market can be divided. Because governments are making larger expenditures in marine defence and because navies all over the world are implementing cutting-edge underwater security systems, the naval defence sector is anticipated to hold the biggest market share. Due to the increasing demand for oil and gas as well as the need to protect offshore facilities, the offshore rigs market is predicted to escalate considerably. Due to the rising demand for tracking and monitoring of ports and terminals for cargo and passenger traffic, the ports and terminals sector is also anticipated to experience consistent development. Due to the increase in piracy, smuggling, and unlawful immigration, there is anticipated to be a substantial increase in the marine security market. This is because there is a growing need for sophisticated undersea security systems.  

Global Underwater Security System Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Rest of the World

North America, Europe, Asia Pacific, and the Rest of the World are the regions into which the worldwide underwater security system market can be divided. Due to its concentration on defence and marine security and the existence of important makers, North America is anticipated to hold the biggest market share. Due to rising expenditures in naval defence and the adoption of cutting-edge underwater security systems by various sectors, Europe is also anticipated to experience substantial development. Due to the region's rising security worries, expanding maritime commerce, and rising demand for oil and gas, Asia Pacific is predicted to experience the fastest development rate. Due to the existence of numerous offshore rigs and the need to protect oil and gas installations, the Middle East is also anticipated to experience substantial development. Due to rising expenditures in the offshore oil and gas sector and the increased emphasis on marine security, Latin America is predicted to experience stable development. 

Global Underwater Security System Market Key Players:

1. Saab AB

2. Thales

3. Undersea Systems International, Inc.

4. teledyne marine

5. Kongsberg

6. L3Harris Technologies, Inc.

7. EvoLogics GmbH

8. sonardyne international ltd

9. Ultra Electronics Holdings plc

10. sea and land technologies pte ltd

11.