Global Maritime Surveillance and Intervention Market to Exhibit a CAGR of 7.1% Between 2023-2030; Surging Maritime Trade, Geopolitical Tensions, and Technological Innovations Propel Market to New Heights

The global Maritime surveillance and intervention market size was valued at USD 19.94 billion in 2022. The market is projected to grow from USD 22.18 billion in 2023 to USD 35.87 billion by 2030, registering a CAGR of 7.1% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Maritime Surveillance and Intervention Market Size, Share & COVID-19 Impact Analysis, By Component (Product, Software), By Application (Surveillance and Tracking, Navigation, Maritime Traffic Management, Search and Rescue, and Others), By End User (Military, Commercial, Civil), and Regional Forecast, 2023-2030”.

The surge in maritime trade and the subsequent rise in oceanic crimes, coupled with geopolitical tensions and territorial disputes, are key factors contributing to the projected global Maritime surveillance and intervention market growth. This trend is expected to continue during the forecast period, particularly in high-growth regions.

Enhancing Coastline Security During Pandemic with Remote Maritime Surveillance

The temporary suspension of Maritime operations, including transportation, fishing, and oil and gas processing, as a preventive measure during the COVID-19 pandemic, necessitated the use of unmanned aerial vehicles (UAVs) by coastguards for remote maritime surveillance. This enabled monitoring of the coastline and enforcement of regulations, with stringent actions taken against violators to ensure compliance.

DP World Southampton Extends Contract with Mitie for Enhanced Maritime Security Services

DP World Southampton renewed its contract with Mitie in April 2023, for an additional two years. Under this contract extension, Mitie will continue to provide comprehensive security services to DP World's deepwater container terminals in the U.K. The services will be delivered in strict adherence to the International Ships and Port Facilities Security Code (ISPS) and the Maritime Security Division (MSD) guidelines established by the Department of Transport.

Innovative Technologies Revolutionize Maritime Surveillance and Intervention

Innovative technologies such as satellite radar, thermal imaging, and underwater robotic systems are revolutionizing Maritime surveillance. These advancements have led to the development of specialized aircraft, such as Saab AB's sea surveillance plane, used for various operations including rescue missions, illegal immigration control, and coastline surveillance.
These cutting-edge aircraft play a crucial role in monitoring sea activities and ensuring maritime security.

The rising cyber attack risk and territorial disputes among neighboring countries stifle the Maritime surveillance and intervention market share.

Competitive Landscape

Strategic Initiatives Drive Product Development and Innovation in the MSI Market

Key players in the MSI market are employing continuous product development and acquisition strategies to remain competitive. For example, Dassault Aviation SA secured a contract with the French Armed Forces Minister to supply seven Falcon 2000LXS aircraft for maritime surveillance and intervention purposes. Additionally, key players are emphasizing product innovation through technological collaborations and investments in research and development to expand their product offerings.

Notable Industry Development: 

• January 2022 – SRT Maritime Systems plc announced receiving a contract worth USD 43.64 million for a new SRT MDA system project with the National Coast Guard. Each phase will be implemented sequentially over a total of two years. This project is the first step in the customer's long-term strategic project to build a fully integrated, next-generation national Maritime surveillance system.

List of Key Players Profiled in the Report:

• 
  
  
  
  • Indra Sistemas, S.A. (Spain)
  
  
  • Raytheon Technologies Corporation (U.S.)
  
  
  • Saab AB (Sweden)
  
  
  • Elbit Systems Ltd. (Israel)
  
  
  • Furuno Electric Co., Ltd. (Japan)
  
  
  • Bharat Electronics Limited (Bengaluru)
  
  
  • Dassault Aviation SA (France)
  
  
  • Naval Group (France)
  
  
  • Kongsberg Gruppen ASA (Norway)
  
  
  • SRT Maritime Systems plc (U.K.)
  
  
  
  

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/maritime-surveillance-and-intervention-market-103458

Further Report Findings:

• North America accounted for a significant market share. Canada's extensive coastline of over 202,080 kilometers contributes to the region's demand for MSI solutions.


• Europe holds the second-largest market share, fueled by its well-established maritime industry and thriving trade activities, particularly in Norway and Greece.

Report Scope & Segmentation