Coastal Surveillance Market Size, Share & Industry Analysis, By Application (Intelligence, Command & control, Reconnaissance, Communications, Electronic warfare), By Component (Radar, Sensors, AIS Receiver, Software) By Scale (large scale, Moderate scale surveillance), By End-User (Navy, Coast guard, Others) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Coastal Surveillance Systems are critical solutions based on advanced software and equipment. They provide all the necessary real-time information and movements going on coastal areas to Coast Guards and Navy. Moreover, the systems ensure full monitoring over an entire coastline area by providing accurate exposure, and tracking of small and high-speed targets that enter the coastal areas under surveillance. The Coastal Surveillance Market has witnessed a high demand for Surveillance Systems in recent years owing to, increasing defence expenditure, and the rising number of illegal coastal activities. Moreover, the growing terrorist activities and regional conflicts among the neighbouring countries is anticipated to propel the growth of the global Coastal Surveillance market during the forecast period.
Key Market Driver -
• High adoption of various surveillance technologies in developing economies • Technological developments in surveillance systems
Key Market Restraint -
• The high cost of equipment and installation • Stringent government regulations for use of surveillance systems
Market Segmentation:
The market is segmented by application, scale, and region.
Based on application, the coastal surveillance market has been segmented into Intelligence, command & control, reconnaissance, communications, and electronic warfare. The intelligence segment is anticipated to grow at the fastest rate during the forecast period. Based on component, the coastal surveillance market has been segmented by Radar, Sensors, AIS Receiver and software. The software segment is projected to grow at a significant rate owing to Technological developments in surveillance systems. Based on the scale the coastal surveillance market has been segmented into large scale and moderate scale surveillance. The Moderate-Scale Surveillance segment is anticipated to grow at a significant rate owing to the growing demand for moderate scale surveillance systems at ports. The market for coastal surveillance has been segmented based on end-users into naval, coast guard, and others. The naval segment is expected to project a high growth rate owing to Advancement in Coastal Surveillance Systems and increased Defence Expenditures.
Key Players Covered:
The key players in the coastal surveillance market are Wartsalia (Finland), Elbit Systems Ltd (Israel), Lockheed Martin Corporation (The U.S.), Raytheon Technologies Corporation (The U.S.), Thales Group (France), Selex Es Spa (Italy), Frequentis AG (Austria), Kongsberg Gruppen (Norway), Indra Sistemas, SA (Spain), Saab AB (Sweden), Rolta India Ltd(India), and Tokyo Keiki Inc (Japan) among others.
Key Insights:
- New advancements in production technology
- New trends and large investments in the Global Coastal Surveillance market
Regional Analysis:
The Coastal Surveillance market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. Owing to high defence expenditure and increased application of advanced surveillance technologies in the region. The market in Europe is expected to grow moderately owing to the presence of prominent players such as Thales Group and Kongsberg Gruppen. The market in Asia-Pacific is expected to be the fastest-growing region in the global coastal surveillance market due to rising demand for coastal surveillance systems and increased military expenditure in countries such as India and China. Moreover, the markets in Latin America and the Middle East & Africa are projected to register a significant CAGR during the forecast period.
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Segmentation
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Coastal Surveillance Market Industry Developments
- In April 2021, Wärtsilä and container port Tanger Med have announced a long-term agreement to develop smart port tools. The agreement includes the delivery and installation of a Wärtsilä Navi-Harbour VTS System comprising of Port Link Port Management Information System, IALA Advanced Coastal Surveillance Radars, and VHF Radio Sub-System.
- In November 2020, India started setting up coastal surveillance radar systems in the costal areas as part of its policy to enhance military diplomacy that will also lead to increased security measures in these friendly countries.
- Ongoing
- 2023
- 2019-2022
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