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Maritime Surveillance and Intervention Market to Exhibit 9.86% CAGR till 2027; Adoption of Robotic Technology to Skyrocket Growth

August 14, 2020 | Aerospace & Defense

The global maritime surveillance and intervention (MSI) market size is projected to reach USD 33.76 billion by 2027. It is expected to gain momentum from the increasing usage of robotic technology. Such technology is giving rise to the development of state-of-the-art underwater intervention vehicles and autonomous underwater vehicles (AUV), thereby improving the surveillance capabilities. Fortune Business Insights™ provided this information in a new report, titled, “Maritime Surveillance and Intervention Market Size, Share & COVID-19 Impact Analysis, By System (Detectors, Combat Management System, Surveillance and Tracking, Geographic Information System (GIS), and Others), By Services (Risk Assessment and Investigation, Maintenance and Support, Security Management, and Others), By Application (Port and Critical Infrastructure Facility, Vessel Security, Coastal Surveillance, and Search and Rescue), and Regional Forecast, 2020-2027.” The report further states that the market stood at USD 18.80 billion in 2019. However, it is likely to exhibit a CAGR of 9.86% during the forecast period between 2020 to 2027.


Indian Navy Deploys P-8I Long-range Maritime Surveillance Aircraft in IOR


In June 2019, the Indian Navy implemented its new P-8I long-range maritime surveillance aircraft in the Indian Ocean Region (IOR). Its main aim is to undertake anti-piracy sorties from Salalah in the Gulf of Aden. The aircraft is capable of offering Maritime Domain Awareness (MDA). Apart from this, the ships coming from the other countries have been provided protection. Till date, the Navy escorted approximately 3,440 ships. Out of these, 413 were of Indian flag, while 3,027 foreign flag.


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


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


Rising Need to Detect Lockdown Violators amidst COVID-19 to Aid Growth


The implementation of lockdown measures owing to the outbreak of the COVID-19 pandemic has halted several marine operations, such as oil & gas processing, fishing, and transportation. Hence, coastguards are adopting unmanned aerial vehicles (UAVs) to monitor coastlines and detect the lockdown violators. It is surging the demand for MSI solutions for enhanced surveillance. Besides, the development of MSI aircraft is increasing day by day stoked by their ability to provide thermal imaging, satellite radar, long-range identification, and automatic identification system. These factors are expected to boost the maritime surveillance and intervention market growth in the coming years. However, the risk of cyber-attacks backed by marine territorial disputes and changing nature of wars may hamper the market growth.


Key Players Aim to Strengthen Position through New Contracts & Product Launches


The market is fragmented with the presence of numerous small, medium, and large companies worldwide. Dassault Aviation SA, Raytheon Technologies Corporation, and Saab AB are considered to be the leading companies owing to their adoption of acquisition and research and development strategies. Some of the others are looking forward to gaining new contracts from the regulatory bodies to provide their in-house MSI solutions.


Fortune Business Insights™ presents a list of all the MSI providing companies operating in the global market. They are as follows:



  • Yaltes (Turkey)

  • Indra Sistemas, S.A. (Spain)

  • Raytheon Technologies Corporation (The 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 Marine Systems plc (The U.K.)


A Few Noteworthy Industry Developments:



  • November 2019: Indra Sistemas S.A. successfully tested its European Maritime Operations Center prototype. It would help in remodeling the maritime situational awareness and surveillance capabilities. The testing was conducted in the presence of Navies from Spain, Italy, Greece, and France.

  • November 2018: Directorate General of Armaments (DGA), a French defense procurement agency awarded a contract to Dassault Aviation SA. This contract would enable the latter to offer a detailed analysis of Falcon 2000 LXS bizjet, its new MSI aircraft. It is likely to replace the pre-existing Falcon 200 Guardian and 50M in the coming years.


Further Report Findings-



  • In 2019, North America generated USD 5.83 billion in terms of revenue. The region is anticipated to dominate in the near future backed by the increasing deployment of unique maritime surveillance and intervention solutions to protect the coastline operations.

  • Asia Pacific is expected to grow rapidly owing to the increasing sea trade operations in China. Also, the rising criminal activities and disputes in the Indian Ocean would surge the demand for MSI solutions in the region.

  • Based on application, the coastal surveillance segment held 37.00% in terms of maritime surveillance and intervention market share in 2019.


The global market can be segmented in the following way:


















































 ATTRIBUTE



  DETAILS



Study Period



2016-2027



Base Year



2019



Forecast Period



2020-2027



Historical Period



2016-2018



Unit



Value (USD Billion)



Segmentation



System; Services; Application and Geography



 



By System



  • Detectors

  • Combat Management Systems

  • Surveillance and Tracking

  • Geographic Information System (GIS)

  • Others



 



By Services



  • Risk Assessment and Investigation 

  • Maintenance and Support 

  • Security Management

  • Others



 



By Application                                                                                                                                     



  • Port and Critical Infrastructure Facility

  • Vessel Security

  • Coastal Surveillance

  • Search and Rescue



 



By Geography



  • North America (USA, Canada)

  • Europe (The U.K., Germany, France,Rest of Europe)

  • Asia Pacific (India, Japan, China, Rest of Asia Pacific)

  • Rest of the World (South America, The Middle East & Africa)


Global Maritime Surveillance and Intervention Market
  • PDF
  • 2019
  • 2016-2018
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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