Global Vessel Traffic Services (VTS) Market Growth (Status and Outlook) 2023-2029

Global Vessel Traffic Services (VTS) Market Growth (Status and Outlook) 2023-2029

A vessel traffic service (VTS) is a marine traffic monitoring system established by harbor or port authorities, similar to air traffic control for aircraft. Typical VTS systems use radar, closed-circuit television (CCTV), VHF radiotelephony and automatic identification system to keep track of vessel movements and provide navigational safety in a limited geographical area.

VTS areas often consist of defined areas of waterway including fairways, routes, anchorages and areas of special interest. All of these factors are currently monitored by a human VTS operator. The provision of active background rule based monitoring within VTS equipment will be of significant benefit to VTS, this will provide an increased level of automated surveillance of maritime traffic and support to VTS operators. Such surveillance may consist of automatic monitoring against predefined parameters of track and speed. Such monitoring may even be increased to include ‘what if’ scenarios such as UKC monitoring. If sufficient live tidal data is combined with accurate electronic charting data, it would be feasible for the vessel’s draft to be automatically monitored against the planned passage, and advance warning given of future constraints enabling early corrective action to be taken.

LPI (LP Information)' newest research report, the “Vessel Traffic Services (VTS) Industry Forecast” looks at past sales and reviews total world Vessel Traffic Services (VTS) sales in 2022, providing a comprehensive analysis by region and market sector of projected Vessel Traffic Services (VTS) sales for 2023 through 2029. With Vessel Traffic Services (VTS) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Vessel Traffic Services (VTS) industry.

This Insight Report provides a comprehensive analysis of the global Vessel Traffic Services (VTS) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Vessel Traffic Services (VTS) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Vessel Traffic Services (VTS) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Vessel Traffic Services (VTS) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Vessel Traffic Services (VTS).

The global Vessel Traffic Services (VTS) market size is projected to grow from US$ 260.4 million in 2022 to US$ 358.4 million in 2029; it is expected to grow at a CAGR of 4.7% from 2023 to 2029.

Globally, the vessel traffic services industry market concentrated as the manufacturing technology of vessel traffic services is relatively high. And some enterprises, like Signalis, Indra Company, Saab and Kongsberg and Transas, etc. are well-known for the wonderful performance of their vessel traffic services and related services, with about 62% market shares.

This report presents a comprehensive overview, market shares, and growth opportunities of Vessel Traffic Services (VTS) market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
INS and NAS
TOS
Others

Segmentation by application
Port Service
Coastal Service
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Signalis
Indra Company
Saab
Kongsberg
Transas
Lockheed Martin
Tokyo Keiki
Frequentis
Vissim AS
SRT

Please note: The report will take approximately 2 business days to prepare and deliver.