NewswireTODAY - /newswire/ - London, United Kingdom, 2010/04/14 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report.

The report “The Maritime Security Market 2010-2020: Piracy, Shipping & Seaports” explores one of the homeland security market’s most important sectors and reveals how this market will develop over the period 2010-2020.

According to the 251 page report, global spending in 2010 on maritime security will total $15.4bn. The increasing occurrence of maritime piracy on larger and larger high value assets such as cargo ships and oil and gas tankers has raised the awareness of maritime security. Not only are these incidents costly for the shipping and oil and gas sectors, the incidents also raise profound questions about energy security in our globalised economy and this has concentrated minds to tackle the problem of maritime piracy. Furthermore, the threat of maritime terrorism remains a very real possibility as terrorist groups see the potential to target such potentially explosive targets. All of these factors and others are driving increased spending on maritime security.

Nevertheless, despite these pressing security requirements driving spending, the maritime security market will have to contend with other restraints over the 2010-2020 forecast period - including restrained defence budgets and a shipping industry recovering from a severe recession.

This report explains how the mixture of these factors and the combination of other factors will shape the maritime security market over the period 2010-2020.

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