BACKGROUND

The maritime industry is accelerating its digital transformation to improve efficiency, safety, and sustainability. However, as vessels become increasingly connected, their exposure to cyber threats intensifies. Operational Technology (OT) systems — which control critical onboard functions like navigation, engine control, and cargo management — are especially vulnerable, often lacking robust cybersecurity protections.

To address this, regulatory bodies like the International Association of Classification Societies (IACS) have introduced new requirements (UR E26 and E27) that mandate cybersecurity measures for new ships built from January 2024 onward. However, many vessels built prior to this date remain outside the regulatory scope, creating a significant vulnerability across the global fleet.

At the same time, shipping companies struggle to meet these regulations due to fragmented systems, low cybersecurity maturity, skill gaps, and the high cost of implementation. Despite available technologies, adoption is limited without better crew training and operational integration.

SIGNIFICANCE OF PROBLEM

Cybersecurity breaches in maritime operations can result in severe consequences:

• Disrupted global trade and supply chains
• Financial losses due to downtime or ransom demands
• Compromised crew safety and vessel control
• Environmental hazards from system failures

Key challenges include:

• Insecure OT systems that lack basic cyber protections.
• Unprepared personnel vulnerable to phishing, social engineering, and unsafe digital practices.
• Regulatory pressure, especially with IACS UR E26/27 and other regional frameworks.
• Lack of standardized implementation, particularly across older vessels and smaller fleets.

Cyber threats are no longer theoretical. Past incidents such as ransomware attacks on port operators, and GPS spoofing on vessels show the urgent need for proactive security strategies that combine technical defences with human readiness.

POTENTIAL MARKET SIZE

The maritime cybersecurity market is growing rapidly due to regulatory pressures and rising threats:

• Global market size – Projected to grow from $4.25 billion in 2022 to $15.22 billion by 2033, with a CAGR of 13.6%.
• Shipping companies & transport services – Accounted for $1.65 billion in 2022, expected to reach $6.80 billion by 2033 (market share: 44.32%).
• Key growth drivers:
  • Mandatory compliance with cybersecurity regulations.
  • Increasing cyberattacks on OT and navigation systems.
  • Insurance pressures demanding higher security standards.
  • Remote operations and autonomous shipping systems.

Key Segments Impacting Shipping Companies:

• Services: Risk assessment and investigation services are projected to grow from $1.38 billion in 2022 to $5.64 billion by 2033, representing a market share of 37.12% in 2022. 
• Threat Types: Malware attacks lead the market, with values expected to rise from $1.10 billion in 2022 to $4.53 billion by 2033, accounting for 29.56% of the market in 2022. 
• End Users: Shipping companies and transportation services are the primary end users, projected to grow from $1.65 billion in 2022 to $6.80 billion by 2033, holding a market share of 44.32% in 2022.

EXISTING EFFORTS

Several initiatives and technologies are currently addressing maritime cybersecurity, but gaps remain: 

• Regulatory frameworks: 
  • IACS UR E26/27 (for new vessels, focused on OT security and cyber-resilient systems). 
  • IMO’s Cyber Risk Management Guidelines (MSC-FAL.1/Circ.3).
• Technology providers:
  • Many satellite service providers offer limited perimeter protection.
  • Specialized tools like USB sanitizers, data diodes, and network segmentation tools are emerging. 
• Training programmes:
  • Basic e-learning and compliance-driven modules exist but often lack interactivity and operational relevance.
  • Human error remains a leading cause of cybersecurity incidents. 

These efforts are fragmented, with few solutions that combine practical technical defences with actionable crew training and clear regulatory alignment.