Technology

Maritime Safety System Market worth $47.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

2 years ago

May 29, 2024

CHICAGO, May 29, 2024 /PRNewswire/ — The market for maritime safety systems is expected to expand in the future due to the growing usage of autonomous vessels, improved cybersecurity protocols, and cutting-edge technologies like artificial intelligence, the Internet of Things, and big data analytics. Combined, environmental monitoring, enhanced communication, integration with smart ports, and regulatory compliance will increase maritime operations’ sustainability, efficiency, and safety.

The Maritime Safety System Market is estimated to grow from USD 30.2 billion in 2024 to USD 47.8 billion in 2029, at a CAGR of 9.6% during the forecast period, according to a new report by MarketsandMarkets™. The Maritime Safety System Market is driven by the rising need to manage complex supply chain operations and enhance sustainability across the marine industry. Increasing awareness about maritime safety, adherence to regulatory compliances and standards, and the growth in marine trade and freight transport activities further fuel the demand for advanced safety systems. These factors collectively contribute to the robust expansion and innovation within the Maritime Safety System Market.

Browse in-depth TOC on “Maritime Safety System Market”

280 – Tables
70 – Figures
300 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

USD Billion

Segments Covered

Offering (Solutions & Services [Professional Services {Training & Consulting, Risk Assessment & Investigation, Support & Maintenance} and Managed Services]), Security type (Port & Critical infrastructure Security, Coastal Security, Vessel Security, Crew Security, Cargoes & Containers Safety, Ship System & Equipment (SSE) Safety, Other Security Types), System (Ship Security Reporting System, Automatic Identification System (AIS), Global Maritime Distress Safety System (GMDSS), Long Range Tracking & Identification (LRIT) System, Vessel Monitoring & Management System, Other Systems) Application (Loss Prevention & Detection, Security & Safety Management, Counter Piracy, Monitoring & Tracking, Environment Protection, Search & Rescue, Communication Management and Other Applications), End User (Government & Defense, Marine & Construction, Oil & Gas, Shipping & Transportation [Shipping Companies, Ship Crews Passengers & Cargo Owners] and Other End Users).

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Companies covered

are Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK), L3Harris Technologies (US), KONGSBERG (Norway), Leonardo (Italy), ATLAS ELEKTRONIK (Germany), Airbus (Netherlands), Terma Group (Denmark), Nuctech (China), ARES Security (US), Rolta (India), HALO Maritime Defense Systems ( US), HudsonAnalytix (US), Consilium ( Sweden), Maindeck (Norway), Captain’s Eye (Israel), ioCurrents (US), Harbor Lab (Greece), Smart Ship Hub (Singapore), SailRouter (Netherlands), Orca AI (England), Anduril Industries (US), PierSight (India) and EyeROV (India).

By offering, the services segment to account for higher CAGR during the forecast period.

Marine managers and vendors rely on technical support and consulting services to effectively deploy technology solutions. These services facilitate quicker and more efficient implementation, leading to optimized operations across various sectors. Managed by solution and service providers, these services are crucial for ensuring access to shared information and resources among dispersed parties within the maritime industry. Cloud platforms are particularly targeted towards ship management tasks like procurement, bunkering, crewing, training, and performance enhancement. With the maritime sector increasingly adopting digital solutions, cloud services are becoming increasingly vital in supporting these advancements.

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By System, Ship Security Reporting System is expected to hold the largest market size for the year 2024.

A ship security reporting system is a crucial alerting mechanism designed to send distress signals to the maritime security center located at the Horn of Africa (MSCHOA) and UK Maritime Trade Operations (UKMTO). This system was implemented to address the rising threat of pirate attacks in the Gulf of Aden and off the coast of Somalia. When a distress signal is activated, it is transmitted to the naval forces responsible for ensuring maritime security in these regions. The ship security reporting system provides a significant, multifaceted advantage to vessels by offering continuous monitoring within a designated range. Upon receiving a distress signal, MSCHOA or UKMTO verifies its authenticity. If confirmed as genuine, critical vessel information, including the vessel’s name, IMO number, MMSI, and location, is promptly retrieved and relayed to the appropriate task forces. The transmission of signals from the SSRS center to the task forces via the mercury system takes less than five minutes. This efficient process enhances maritime security, allowing ships to navigate the most vulnerable waters with greater confidence and protection.

By End User, oil & gas is projected to grow at the highest CAGR during the forecast period.

In the oil & gas sector within the Maritime Safety System Market, maritime transportation stands out as a secure and efficient mode of conveyance. Over the years, there has been a remarkable 98% reduction in oil spills from tankers globally since 1970, a testament to the safety protocols implemented in vessels and the rigorous training of crew members. Oil ranks as the largest commodity transported via water, known for its cost-effectiveness and efficiency compared to other forms of transportation. With increasing exploration and production activities in deep-water and ultra-deep-water regions, there is a heightened demand for advanced safety systems to mitigate risks and ensure operational integrity. Investments in real-time monitoring, emergency response solutions, and regulatory compliance are paramount, fueling growth in this critical sector of the maritime industry.

Middle East & Africa is expected to grow at the second-highest CAGR during the forecast period.

The waterways within the Middle East & Africa (MEA region) hold immense global significance, facilitating the substantial export of oil and natural gas and serving as vital links between Eastern and Western traders through key passages like the Red Sea and Suez Canal. However, political tensions in this region have amplified the vulnerabilities of these waterways, exacerbated by challenges such as the lack of internal stability in bordering governments, inadequate maritime security capabilities, and potential naval threats from entities like the government of Iran. To remain competitive and aligned with global advancements, governments across the MEA are prioritizing a shift towards information and innovation-driven societies.

Top Companies in Maritime Safety System Market:

The major maritime safety system solutions and service providers Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK), L3Harris Technologies (US), KONGSBERG (Norway), Leonardo (Italy), ATLAS ELEKTRONIK (Germany), Airbus (Netherlands), Terma Group (Denmark), Nuctech (China), ARES Security (US), Rolta (India), HALO Maritime Defense Systems ( US), HudsonAnalytix (US), Consilium ( Sweden), Maindeck (Norway), Captain’s Eye (Israel), ioCurrents (US), Harbor Lab (Greece), Smart Ship Hub (Singapore), SailRouter (Netherlands), Orca AI (England), Anduril Industries (US), PierSight (India) and EyeROV (India). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Maritime Safety System Market.

Recent Developments:

In December 2023, Honeywell announced the acquisition of SCADAfence, a prominent provider of cybersecurity solutions for monitoring large-scale OT and IoT networks. SCADAfence’s expertise lies in asset discovery, threat detection, and security governance, all vital for bolstering cybersecurity in industrial and building management programs.In October 2023, Smith’s Detection unveiled the HI-SCAN 7555 DV, a dual-view X-ray scanner featuring enhanced capabilities. This scanner offers superior image quality, automatic explosives detection, and a compact footprint, making it ideal for efficient screening in high-threat applications.In September 2023, OSI Maritime Systems (OSI) announced the finalization of a Long-Term Partnership Agreement (LTPA) with PGZ Stocznia Wojenna Shipyard (PGZ SW). Under this agreement, OSI will be PGZ SW’s preferred partner for all new-build and retrofit WECDIS-based navigation systems in the Polish Navy.In August 2023, Anschütz enhanced the capabilities of its Electronic Chart Display and Information System (ECDIS) with customized functions to support safe and efficient operations for offshore and research vessels, as well as for blue and grey forces.In March 2023, The partnership between Anschütz and StormGeo, a prominent provider of weather intelligence and decision-support solutions in the shipping industry and part of Alfa Laval, signifies a move toward fully paperless ship governance.In January 2023, Anschütz launched the NautoPilot 5000NX, a new autopilot for ships featuring a 7-inch graphical touchscreen that clearly displays all navigational information. With intuitive operation, crews can access heading, course, and track control steering modes easily.

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Maritime Safety System Market Advantages:

Advanced monitoring and detection capabilities offered by maritime safety systems raise the standard of safety and security in maritime operations. These technologies aid in the prevention of mishaps, crashes, and illegal entry into ports and vessels.These technologies allow for the timely detection of potential hazards and incidents by providing real-time surveillance of maritime operations. To maintain safe navigation, this entails monitoring ships, the weather, and other important factors.By giving precise and current information on vessel movements, maritime safety systems help improve navigation and traffic management. This aids in route optimisation, traffic reduction, and accident avoidance in crowded ports and shipping lanes.Maritime safety systems facilitate prompt and well-coordinated response actions in the event of emergencies or accidents. They offer vital information and communication resources that support the management of rescue efforts and the reduction of event impact.These systems aid ensure the adherence of maritime operators to global maritime safety norms and regulations, including those established by the International Maritime Organisation (IMO). In addition to preventing fines and other consequences, compliance guarantees safer operations.Through the detection of oil spills, monitoring and control of pollutants, and enforcement of environmental standards, maritime safety systems help to safeguard the environment. This lessens the negative effects of maritime activity on the ecosystem.Operational efficiency is increased when automation technologies are integrated into maritime safety systems. The accuracy and dependability of safety measures are increased and the necessity for personal intervention is decreased through automated monitoring, reporting, and alerting.

Report Objectives

To define, describe, and predict the Maritime Safety System Market, by offering (solutions and services), security type, system, application, end user, and region.To describe and forecast the Maritime Safety System Market, in terms of value,by region—North America, Europe, Asia Pacific, Middle East & Africa and Latin AmericaTo provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall Maritime Safety System Market.To profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders.To analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the Maritime Safety System MarketTo provide the illustrative segmentation, analysis, and projection of the main regional markets.

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Technology

Mid-American Conference Selects uReport to Power Conference-Wide Storytelling

Published

8 minutes ago

September 10, 2026

CLEVELAND, Sept. 10, 2026 /PRNewswire/ — DistrictWON and uReport today announced that the Mid-American Conference (MAC) has selected uReport as its conference office storytelling and content creation platform.

The MAC will utilize uReport to help its conference communications team efficiently create and publish a wide range of content highlighting the accomplishments, events, student-athletes, coaches, championships, and initiatives taking place across all 12 member institutions.

“With the recent rule changes by the NCAA including the 5 for 5 rule, the demand for timely, consistent, and engaging digital content is now more important than ever for all colleges and universities,” said Regan Fitzpatrick, President and Co-Founder of DistrictWON.

“Every athletic department has more great stories than it has the time or resources to tell. uReport is a powerful and innovative tool that gives SIDs a simple way to dramatically expand their storytelling, amplify their programs and athletes, and reach their communities—without adding more to an already overloaded staff.” – Jeremy Guy Associate Commissioner // Communications Mid-American Conference.

“We’re honored that the Mid-American Conference has chosen uReport to help amplify the incredible stories happening throughout one of the nation’s premier collegiate athletic conferences,” Fitzpatrick added. “Conference offices are being asked to create more content than ever before with limited staff and resources. uReport allows them to expand their content creation and storytelling capacity for all sports and athletes while maintaining the editorial quality and oversight their audiences expect.”

Unlike traditional AI content generators, uReport combines responsible AI with human oversight to streamline content creation while preserving editorial accuracy, institutional voice, and data privacy.

The platform is listed in the ISTE Learning Technology Directory and has earned the 1EdTech TrustedEd Apps Certification for Data Privacy, reinforcing its commitment to responsible AI and protecting institutional and student information.

Through the partnership, the MAC will be able to showcase more of the people, programs, milestones, and achievements that define the conference while providing fans, alumni, media, and member institutions with a richer and more consistent stream of content throughout the year.

“This partnership is ultimately about telling more stories,” Fitzpatrick added. “Every championship, student-athlete achievement, community initiative, and historic moment deserves to be shared. We’re excited to help the Mid-American Conference bring those stories to life.”

For more information, contact:

Dan McGrath
Director of Customer Success, DistrictWON
216-647-3857
dmcgrath@districtwon.com

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SOURCE DistrictWON; uReport

Technology

Cadwell Names Jeff Cohen Chief Executive Officer, Succeeding Patrick Jensen

Published

8 minutes ago

September 10, 2026

KENNEWICK, Wash., Sept. 10, 2026 /PRNewswire/ — Cadwell Industries, Inc., today announced that Patrick Jensen, Ph.D., will step down as chief executive officer, concluding a 10-year tenure in the role. Jeff Cohen, a seasoned medical technology executive, will succeed Jensen as Cadwell’s CEO, effective immediately. Jensen will remain with the company as a strategic advisor.

“I want to thank Patrick for his decade of leadership,” said John Cadwell Jr., chairman of the board and president of Cadwell. “He oversaw tremendous growth during his tenure while maintaining Cadwell’s motto of, ‘Helping you help others.’ Patrick approached us about scaling back to spend more time with his family about a year ago. I appreciate his commitment to helping us find a successor, ensuring a seamless handoff and continuing to be involved at Cadwell in an advisory capacity. We are equally excited to welcome Jeff to Cadwell and are confident his experience will build on everything Patrick helped us achieve.”

During his tenure, Jensen expanded Cadwell’s footprint as a leader in neurodiagnostics, guided by a deep commitment to the clinicians using Cadwell equipment and the patients they serve. He grew the company’s global market presence, led its entry into the epilepsy monitoring market and strengthened its innovation portfolio through strategic investments in Sleepmate® and Seer Medical. He also led the development and release of new solutions shaped by direct physician and technologist feedback, including the Cadwell Guardian® IONM system.

“I’m grateful to have worked with the Cadwell team and our amazing network of physicians and technicians for the past 10 years. We have made significant progress toward our mission of improving the lives of neurology patients around the world, and I am confident that Jeff is the right leader to guide Cadwell going forward. I look forward to remaining engaged as a strategic advisor at Cadwell to ensure a smooth transition and help continue our trajectory of growth and positive impact on the neurology community,” said Jensen.

Cohen brings more than 20 years of medical technology industry experience spanning global business strategy, research and development, product innovation and commercial sales. Much of that time was at Philips, where he rose from program manager to senior vice president and general manager of Philips Ultrasound, leading global teams that grew market share while expanding margins. He holds a bachelor’s degree in chemical engineering from Worcester Polytechnic Institute, an MBA from Boston College and an executive management certificate from MIT.

With Cohen now leading Cadwell, the company remains focused on its vision: to help more patients globally than any other neurodiagnostic solution provider.

“I look forward to building on the track record established by Patrick, the Cadwell team and the Cadwell family,” said Cohen. “It is an honor and privilege to lead Cadwell in the next phase of growth, carrying forward the company’s strong legacy of helping neurology patients in their time of need.”

About Cadwell

Cadwell is a global medical technology and services company dedicated to delivering innovative neurodiagnostic, neuromonitoring and sleep solutions to clinicians worldwide. Headquartered in Kennewick, Washington, the company provides exceptional support for every stage of the care delivery journey.

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SOURCE Cadwell Industries, Inc.

Technology

Centric Software Unveils Centric AI to Power Smarter Product Decisions at NRF 2026

Published

9 minutes ago

September 10, 2026

Centric AI connects product data and workflows from concept to commercialization to automate and accelerate the decisions that drive margin, speed and growth

CAMPBELL, Calif., Sept. 10, 2026 /PRNewswire/ — Centric Software® is pleased to announce that it is showcasing Centric AI, its new AI platform for product lifecycle decisions, at NRF 2026: Retail’s Big Show Europe, taking place September 15–17, 2026 at Paris Expo Porte de Versailles. Centric Software delivers innovative, integrated, end-to-end AI-powered enterprise solutions to take products from concept to commercialization. Fashion, luxury, footwear, outdoor, home, consumer electronics, food & beverage, cosmetics & personal care as well as multi-category retail teams can plan, design, develop, source, comply, buy, make, price, allocate, assort, sell and replenish products to achieve strategic and operational digital transformation goals.

Retailers and brands are moving AI from experimentation into day-to-day operations, with growing focus on measurable business impact. This shift is especially relevant across the product lifecycle, where decisions combine product data, market demand, sourcing constraints, cost, compliance requirements and commercial priorities. As companies manage more products, channels and regulatory requirements, teams have more information to evaluate but less time to act.

AI is only as useful as the context behind it. Centric AI brings a common AI platform to the product lifecycle, including Centric AI Companion, Centric AI MCP and specialized Centric AI Agents. Centric AI combines more than two decades of connected product data, workflows and industry expertise with conversational interactions, external connectivity, agentic workflows and packaged applications—turning that foundation into a competitive advantage at a moment when the market is flooded with generic AI promises and starved for AI that delivers real business value.

The business impact is measurable. Customers running Centric AI alongside Centric’s concept-to-commercialization solutions reclaim 90–98% of the time previously spent on manual work like data entry, approval routing, bill of materials creation and status tracking. That time saving is visible on the bottom line too with Centric customers reporting 2–5% improvements in gross margin and gains of up to 5% in sell-through from faster, better-informed pricing, assortment and inventory decisions.

“The near-term value of Centric AI is clear: take repetitive operational work off teams’ plates and give people back time,” says Vincent Picou, Chief AI Officer at Centric Software. “The greater opportunity is ahead—AI agents that evaluate more alternatives and weigh competing constraints in seconds, so every recommendation is already tested against the trade-offs that matter. Human expertise doesn’t disappear. It moves to judgment calls and the exceptions only people can resolve.”

Centric AI delivers value on both fronts. It saves time on task by automating the operational work inside the product lifecycle—less manual entry, fewer handoffs, fewer approvals and meetings. It also accelerates time to decision by connecting data and surfacing insights across functions, so teams act on the next-best decision instead of waiting to assemble one.

AI is not new to Centric. It’s already embedded across Centric PLM™, Centric Visual Boards™, Centric Planning & Pricing™, Centric Market Intelligence™ and Centric PXM™. Centric AI unifies and extends that foundation, reaching product teams in four ways:

Ask Centric AI Companion: teams can surface product and commercial information instantly and trigger actions in natural language, right inside the tools they already use.

Connect safely with Centric MCP: extend the value of external AI systems while keeping product data, permissions and business context under control.

Act with Centric AI Agents: hand off entire tasks end to end. Agents such as the BOM & Tech Pack Agent can turn a rough sketch or supplier document into a complete, multi-line bill of materials in minutes, automatically matching the closest style and building out fabric, trim and packaging details.

Solve high-value challenges with Centric AI Apps: purpose-built experiences like Centric AI Studio™ apply generative AI to product ideation, design and visual content creation to accelerate product development decisions and time to market.

At NRF Europe, Hall 4, Booth P-040, Centric Software will demonstrate how Centric AI connects intelligence across workflows to streamline everyday work and accelerate the product and commercial decisions that shape the bottom line.

“Our strategy is simple: invest in AI where it delivers measurable gains in margin, speed and growth,” says Fabrice Canonge, CEO of Centric Software. “As AI moves from experimentation into the heart of business operations, Centric AI builds on decades of product data, workflows and industry expertise to turn AI into a competitive advantage and drive lasting value for our customers.”

Discover why connected decisions will define the next generation of retail at the Exhibitor Big Ideas session, Tuesday, September 15 at 14:45, featuring Vincent Picou, Chief AI Officer at Centric Software.

ADD TO YOUR AGENDA

See how Centric AI transforms product data into smart decisions from concept to commercialization. Visit Centric Software at Hall 4, Booth P-040 for a live demo.

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Centric Software® (www.centricsoftware.com)

From its headquarters in Silicon Valley, Centric Software provides an innovative and AI-enabled product concept-to-commercialization platform for retailers, brands and manufacturers of all sizes. As experts in fashion, luxury, footwear, outdoor, home, food & beverage, cosmetics & personal care, consumer electronics as well as multi-category retail, Centric Software delivers best-of-breed solutions to plan, design, develop, source, comply, buy, make, price, allocate, sell and replenish products.

Centric PLM™, the leading PLM solution for fashion, outdoor, footwear and private label, optimizes product execution from ideation to development, sourcing and manufacture, realizing up to 50% improvement in productivity and a 60% decrease in time to market. Centric Planning & Pricing™, a cloud-native solution powered by Centric AI that unifies planning, pricing and inventory optimization, enabling retailers and brands to increase sell-through, improve margins and optimize inventory efficiency from pre-season through in-season execution. Centric Market Intelligence™ is an AI-driven platform delivering insights into consumer trends, competitor offers and pricing to boost competitively and get closer to the consumer, driving up to a 12% increase in average initial price point. Centric Visual Boards™ pivot actionable data in a visual-first orientation to ensure robust, consumer-right assortments and product offers, dramatically decreasing assortment development cycle time. Centric PXM™, AI-powered product experience management (PXM), encompasses PIM, DAM, content syndication and digital shelf analytics (DSA) to optimize the product commercialization lifecycle resulting in a transformed brand experience. Increase sales channels, boost sell through and drive margins.

Centric Software’s market-driven solutions have the highest user adoption rate, customer satisfaction rate and fastest time to value in the industry. Centric Software has received multiple industry awards and recognition, appearing regularly in world-leading analyst reports and research.

Centric Software is a subsidiary of Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA), the world leader in 3D design software, 3D digital mock-up and PLM solutions. 

Centric Software is a registered trademark of Centric Software, Inc. in the US and other countries. Centric PLM ™, Centric Planning & Pricing ™, Centric Market Intelligence ™, Centric Visual Boards ™, Centric PXM ™, Centric PIM™, Centric DAM™, Centric Shoppingfeed® and Centric DSA™ (including Centric Digital Shelf Analytics™) are trademarks of Centric Software, Inc. All third-party trademarks are trademarks of their respective owners.

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SOURCE Centric Software