A long range tracking and identification system is a security and surveillance system that is used for the identification and tracking of ships. The system contains ship borne long range tracking and identification system information transmitting equipment, application service providers (ASPs), communications service providers (CSPs), LRIT data centers, LRIT data distribution plans, vessel monitoring systems, and international LRIT data exchange. The integration of a long range tracking and identification system in ships provides information related to the ship’s identity and current location to the government, which helps government bodies reduce security risks. In addition, advantages of long range tracking and identification systems such as maritime search and rescue, marine environment protection, and maritime safety are anticipated to drive the long range tracking and identification system market.

A rise in seaborne trade is a major factor driving the global long range tracking and identification system market. According to the United Nations conference on trade and development, in 2017, the global seaborne trade volume rose 4% as compared to 2016. This is due to global economic recovery and improving global merchandising trade. The global seaborne trade reached 10.7 billion tons in 2017. Moreover, the dry bulk commodity raised by 4% in 2017 as compare to previous year  A rise in global seaborne trade has boosted demand for ships, which is driving demand for long range tracking and identification systems. In addition, a rise in government investment for purchasing ships has propelled the long range tracking and identification system market

Moreover, an increase in security concerns related to ships plays a major role in the growth of the long range tracking and identification market. To overcome security concerns related to ships, most governments are taking initiatives to invest in ship security. For instance, in March 2019, the 13th Governing Council Meeting of the ReCAAP ISC was held in Singapore. The council discussed maritime challenges such as terrorism and armed robbery against ships in Asia. According to the ReCAAP ISC presentation, in 2018, there were 76 incidents of armed robbery against ships in Asia. To overcome these challenges, major countries such as Australia, India, China, Japan, South Korea, the Netherlands, Norway, and Singapore have released funds for to address ship security and terrorism. This is projected to boost demand for security equipment, and, in turn, the long range tracking and identification system market.

The global long range tracking and identification system market can be segmented based on component and region. Based on component, the market can be classified into devices and services. The services segment can be further divided into installation and managed services. In terms of application, the long range tracking and identification system market can be categorized into cargo ships, high-speed craft, mobile offshore drilling units, and passenger ships.

In terms of region, the global long range tracking and identification system market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific held  a dominant position in the global long range tracking and identification system market in 2018. It is anticipated to retain its dominance throughout the forecast period. India, China, and Japan are some of the major countries driving the market in the region. an increase in seaborne trade plays a key role in the growth of the market in the region. According to the United Nations Conference on Trade and Development, in 2017, Asia Pacific accounted for 42% of the global loading seaborne trade and 61% of unloading.      

Key players operating in the global long range tracking and identification system market include Furuno Danmark, Master Systems LLC, Radio Holand, Mackay Communications, Seven Seas Marine International, Inc., and Blue Tracker.

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Long Range Tracking And Identification System Market