Market Dynamics:
The rising need for cargo security monitoring and port protection systems is a key driver for growth of maritime security market. According to the International Maritime Bureau, maritime theft and piracy incidents have increased in the last few years with cargo theft from ports and vessels emerging as a significant threat. This has increased demand for technologies such...
The Evolving Threat of Terrorism at Sea
Terrorist groups have also recognized the sea as a domain to project power and spread fear. In 2015, ransom-seeking sea attacks by militant groups in West Africa spiked. Experts warn terrorists may seek to disable infrastructure like offshore oil rigs or seize tankers to use as floating bombs. Al-Qaeda in the Arabian Peninsula even attempted maritime...
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