Maritime safety market forecast to hit $8.12b by 2031

Software is projected to be the fastest-growing offering through the period.

The global maritime safety system market is projected to expand to $8.12b by 2031 from $6.29b in 2026, according to MarketsandMarkets.

This represents a compound annual growth rate (CAGR) of 5.2%, supported by the increasing need to improve vessel safety, navigation accuracy, situational awareness, and emergency response.

Hardware is expected to account for the largest offering share in 2026 at 50.5%, whilst software is projected to record the highest growth rate through 2031.

By application, navigation and collision prevention held the largest market share in 2025.

Vessel and crew safety monitoring is expected to post the highest CAGR through 2031 as operators adopt connected sensors, computer vision, artificial intelligence-based object detection, predictive monitoring, and remote supervision.

Europe is projected to record the highest regional CAGR at 7.1% over the forecast period.

The region's market is supported by its commercial shipping industry, port infrastructure, maritime regulatory framework, and marine technology sector.

The report said maritime safety systems are shifting from standalone equipment towards connected architectures combining marine electronics, digital navigation, software, sensors, communications, and remote monitoring.

The market faces constraints from installation and integration costs, regulatory and certification requirements, cybersecurity risks, interoperability challenges, vessel retrofits, and operating conditions at sea.