We know the motivation behind the writing of the song because the author has written about it. “In 1977, my wife Anna and I spent our vacation in Great Britain. We traveled through England, Scotland and Wales the same year that Queen Elizabeth celebrated the 25th anniversary of her coronation. There were many symbols of royalty.” Hayford said that the opening lyrics and melody came together as he was driving in Great Britain. He completed the song in California.
As for interpretation Jack Hayford gives his insight. ‘Majesty’ describes the kingly, lordly, glorious, regal nature of our savior. ‘Majesty’ recalls that our worship can align us with God and His throne and His kingdom. We are rescued from death, restored to the inheritance of sons and daughters, and qualified for victory in battle against the adversary, and destined for the throne forever in His presence.”

--wordandwork.org