Underwater Security Market: End Users, Region, Growth Rate and Sales

Global energy demand is expected to rise consistently during the forecast period which encourage offshore activities for various end use industry such as oil & gas industries. Underwater security systems provides industry, the freedom to find, develop and manage assets and to deliver better services without interference of supply. Even a simple standalone offshore well site’s risk assessment must consider well pressure, type of fluids produced, directional configuration, water access, measured depth and vertical depth, location, well maturity and reserves, sub-surface safety valve, possible collateral damage, and damage containment. Major forces driving this market are the rapid adoption of cloud-based services, wireless communication along with strict government mandates, and increasing cybercrime threats across all industries.

Underwater security solutions allow risk assessment of a small standalone offshore site, taking into account the fluid types produced in the well, well pressure, directional configuration, measured depth, vertical depth, sub-surface safety valve, damage containment, location and others. Furthermore, in response to the demand for remote control centers, the need for constant monitoring and control is also set to increase. Underwater security service providers are increasingly focusing on innovative cyber solutions to help end-use industries such as commercial, military & defense, and scientific research to adopt the digitization wave. This is likely to fuel the underwater security market during the forecast period. There is a growing trend toward the utilization of remote control centers. Solution providers are likely to provide innovative cyber solutions at competitive prices by uniting the portfolios against bundled attacks.

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The underwater security (systems and services) market can be segmented based on technology and systems, service, category, and region. Based on technology and systems, the market can be divided into surveillance & tracking, geographic information system (GIS), detectors, communication, screening & scanning, access control, weather monitoring, supervisory control and data acquisition (SCADA), and others. In terms of service, the market can be split into consulting, system design and integration, risk and threat assessment, managed security services, and training and education. Based on category, the market can be divided into port and critical infrastructure security, vessel security, and coastal surveillance.

Based on region, the market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The market for underwater security witnesses lucrative opportunities for venturing in Asia Pacific. The market in Malaysia, China, and Australia is also expected to expand due to the increasing offshore activities. Recently, the Indian Navy launched an integrated underwater harbor defense system and mine warfare data center to improve the navy’s surveillance skills and response to any potential threat at the naval dockyard located in Vishakhapatnam, India. This is a recent instance of implementing underwater security and services to tighten the defense capabilities of a region. The multi-sensor system deployed is called Integrated Underwater Harbour Defence and Surveillance System (IUHDSS). It is capable of identifying, tracking, detecting, and generating warnings for underwater threats. Rise in terrorist activities, illegal seaborne immigration, piracy concerns, and other issues such as environmental destruction are creating major issues for governments around the world. whereas, the technologies available in the underwater security market are advancing at a rapid rate.

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The demand of underwater security systems and services is concentrated in areas which accounts for major producer and supply of products and services. The key demand of underwater security systems and services is in the Middle East & African oil producing countries. The Gulf of Mexico and West Africa are also witnessing an increase in cyber systems integration. Europehas tightened security mostly at the North Sea pipelines as well as drilling positions. Demand for underwater security systems and services has risen in Canada and the U.S due to its extensive defense and civil installations offshore, mostly oil wells and telecommunication equipment.

Key players operating in the global underwater security (systems and services) market include Computer Sciences Corporation, Cisco Systems, Inc., International Business Machines (IBM) Corporation, Lockheed Martin Corporation, Thales Group, and Booz Allen Hamilton Inc.