The Vessel Traffic Management system is open, flexible, and contains modular architecture, which gives a scope to upgrade the system by utilizing computer and communication systems. The VTMIS system is evolved on the basis of client-server architecture, where the server offers services to clients who are disconnected from the server. The client and server are independent of each other.
Additionally, VTMS is comprised of various information systems, which are integrated, processed, and correlated with each other. Various information system includes radars, automatic identification, direction finders, port management & information, electro-optical, and surveillance networks sharing radar and AIS data. These systems require frequent solutions and services to remain operative in maritime transports. It is expected the Vessel Traffic Management system market will grow.
Increasing demand for the implementation of technologies, such as Global Navigation Surveillance Systems (GNSS), e-navigation, cloud computing, Internet of Things (IoT) in busy commercial ports is one of the key factors driving the vessel traffic management market. High cost of the Vessel Traffic Management (VTM) equipment and installation are factors restraining exponential growth of the VTM market.
The Vessel Traffic Management System market is dominated by a few global players, and comprises several regional players. Some of the key players operating in the Vessel Traffic Management System ecosystem are Kongsberg, L3 Communication, Transas, Saab AB, Thales, Rolta India, Japan Radio Co. Ltd., Frequentis, TERMA, Tokyo Keiki Inc., Indra, Leonardo Finmeccanica, and Kelvin Hughes and others.
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The Vessel Traffic Management System market is segmented based on Component, End-user, Systems and geography.
On the basis of component, Hardware (Marine radar sub-system and automatic identification sub-
system, Communication and computer networks, Operator consoles, Servers, Databases, Video walls), Solution (Sensor integrators, Routing monitor, Multi-sensor tracker, Electronic navigation charts), Services (Maintenance, Operating services). On the basis of End-user, Commercial and Defense. On the basis of systems, Port Management Information Systems, Global Maritime Distress Safety System, River Information Systems.
Regionally, the market is segmented into North America, Europe, Asia-Pacific and Middle East & Africa, Latin America. By region, Europe is expected dominate the Vessel Traffic Management System market. The United Kingdom, France, Italy, and Germany are expected to be the leading countries. This is attributed to the presence of large number of manufacturers in the region. Asia Pacific is anticipated to be the fastest growing region in the vessel traffic management system market over the forecast period. India, Japan, and China are the leading countries in the vessel traffic management system market, owing to the rise in number of defense deals with the European market.