Increasing awareness of the maritime situation and increasing safety concerns, along with growing interest in port security for illegal immigration and terrorist activities, are affecting the growth of the ship traffic management market. However, the high costs associated with Vessel Traffic Management equipment, installation and maintenance are major factors impeding the Vessel Traffic Management Market growth. In addition, the increase in maritime trade, port expansion and port development projects, and the increase in defense and commercial vessels are expected to drive demand for the ship traffic management market during the forecast period.
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Vessel Traffic Management Market Segmentations
By Function
• Navigation
• Communication
• Surveillance
By Sensing Components
• Radar
• Satellite
• Automatic Identification System (AIS)
• Weather Station
• Radio Direction Finder (RDF)
• Drone
• Others
By Application
• Offshore Platform
• Ports and Coastal Traffic
• Coast Guard and Rescue
• Others
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