The global maritime anti-piracy systems market to grow at a CAGR of 1.91% during the period 2017-2021.
Global Maritime Anti-Piracy Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers new procurements and developments of the systems.
One trend in the market is deployment of drones for anti-piracy missions. Drones with surveillance and reconnaissance capabilities are being deployed for tracking pirate activities along the coastlines. These drones can act as deterrents as well as reactionary forces against armed maritime pirates. Drones are being used owing to their stealth feature. They have reduced the risk of exposure and can operate in areas that are difficult for humans to reach.
According to the report, one driver in the market is need to strengthen maritime security. Acts of piracy have been existent for a long time, and sea routes used for trade have been the most vulnerable ones. With the expansion of the global economy, the significance of water routes as a means of transport and trade also increased manifold. This, however, led to increased risks in terms of piracy and related crimes. Pirates, in addition to attacking ships for the abduction of tankers, container ships, and bulk carriers for their economic value, also kidnap onboard crew and passengers to demand ransom.
Further, the report states that one challenge in the market is challenges associated with carrying firearms on ships. Carrying firearms on ships can pose legal complications. For instance, civilians are generally denied from carrying firearms for self-defense or for any other purpose. There are numerous laws that govern the validity of carrying firearms on naval vessels. Firstly, the maritime law or the United Nations Convention on the Law of the Sea governs the rights and the responsibilities of nations regarding navigating the sea. Additionally, there are specific laws applicable from international, national, and state perspectives.