Middle East & Africa Maritime Information Market

The Middle East & Africa maritime information market is expected to grow from US$ 62.49 million in 2022 to US$ 81.46 million by 2028. It is estimated to grow at a CAGR of 4.5% from 2022 to 2028.

Development of Integrated Solutions to Lower Maritime Terrorism and Piracy Creating Significant Opportunities for the Middle East & Africa Maritime Information Market

Effective real-time information exchange across groups with related interests is essential for the maritime sector. The information and communication technology that links all the participants and permits the efficient flow of information, intelligence, and communications is the foundation of the global naval network. Advanced vessel traffic services (VTS), which are commonly deployed by major ports, waterways, and maritime authorities, are also used for incident management and maritime rescue coordination on a large scale. Integrated traffic management systems and solutions provide high performance and dependable services to meet the constantly evolving maritime safety regulations. Incident detection is crucial in the maritime industry. Surveillance equipment such as radar, sonar, AIS, and closed-circuit television (CCTV) are required to provide operators with real-time situational awareness. Therefore, there is a high demand for integrated solutions that would enable data analysis to stop maritime terrorism and piracy, which is creating significant opportunities for the Middle East & Africa maritime information market players.

Middle East & Africa Maritime Information Market Overview

South Africa, the UAE, and the Rest of Middle East & Africa are the key contributors to the Middle East & Africa maritime information market. The Middle East & Africa is projected to grow rapidly in maritime industry, driving the entire economy's growth. Oil and gas production are one of the prominent businesses in the region. Libya, the UAE, Saudi Arabia, Iran, and Qatar are a few countries that have seen growth in the oil business, resulting in the growing deployment of naval fleets. Despite the slowdown in economic growth and substantial macroeconomic imbalances from lower oil prices in the last few years, oil and gas producing countries in the Middle East & Africa are boosting their oil and gas production by partnering with foreign firms to expand the huge offshore oil and gas fields, resulting in the growing demand for maritime information solutions. Furthermore, increased international trade and development of easy-navigation technology have fueled the growth of maritime information solutions in the Middle East market. Moreover, the demand for maritime information across offshore reserves is expected to increase significantly due to rising oil & gas extraction and increasing production investment across high-sea locations. Due to the rapid growth of the world's population, energy requirements will increase technological demand over the forecast period and eventually drive market growth. The Organization of Petroleum Exporting Countries (OPEC) coordinates oil extraction quotas and prices among its members and is home to most Middle Eastern oil producers. Approximately 41.9% of today's crude oil is produced by OPEC countries. The group's founding member, Saudi Arabia, generates approximately 12.2 million barrels of oil daily. Saudi Arabia also boasts the Middle East's biggest crude oil distillation capacity, with over 3 million barrels per day, owing to the presence of Saudi Aramco, a state-owned enterprise. Saudi Aramco was one of the world's most valuable businesses as of September 2019. Hence, the region's need for navigational information is strong due to its well-developed oil and gas offshore infrastructure and large oil suppliers.

Middle East & Africa Maritime Information Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Maritime Information Market Segmentation

The Middle East & Africa maritime information market is segmented into platform, application, end-user, and country.

Based on platform, the Middle East & Africa maritime information market is bifurcated into on-shore and vessel. In 2022, the vessel segment registered the larger share in the Middle East & Africa maritime information market.

Based on application, the Middle East & Africa maritime information market is segmented into fleet management, vessel tracking, and maritime security. In 2022, the fleet management segment registered the larger share in the Middle East & Africa maritime information market.

Based on end user, the Middle East & Africa maritime information market is bifurcated into commercial and government. In 2022, the commercial segment registered the larger share in the Middle East & Africa maritime information market.

Based on country, the Middle East & Africa maritime information market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. In 2022, the Rest of Middle East & Africa segment registered the larger share in the Middle East & Africa maritime information market.

BAE Systems Plc; Fujitsu Limited; Iridium Communications Inc.; L3Harris Technologies Inc.; Lockheed Martin Corp; Northrop Grumman Corp; ONEOCEAN; ORBCOMM Inc.; Polestar; Saab AB; Siemens AG; Spire Global; Thales Group; and Windward Ltd are the leading companies operating in the Middle East & Africa maritime information market.

Middle East & Africa Maritime Information Market Strategic Insights

Middle East & Africa Maritime Information Market Segmentation Analysis

Middle East & Africa Maritime Information Market Report Highlights

Middle East & Africa Maritime Information Report Scope

Middle East & Africa Maritime Information Market Country and Regional Insights