New York,US, July 21, 2022 (GLOBE NEWSWIRE) -- Coastal Surveillance Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Coastal Surveillance Market Information by Type, System, Information By Application Scale Platform - Forecast till 2030”, the market is estimated to reach The report further predicts the market to thrive at a healthy CAGR of over 8.8% during the review timeframe.
Market Scope:
Security is a mounting concern for numerous maritime areas that have an extremely complex environment. This has raised the requirement for highly advanced coastal surveillance systems. The Coastal Surveillance System or CSS is an innovative and integrated border surveillance system that offers command and control capabilities with the use of integrated technologies like electro optical systems and Automatic Identification Systems (AIS), radar, and various other sensors.
Coastal surveillance offers identification, tracking and recognition of intruders, in turn helping the security forces to reach their exact location. The CSS system contains either one or several Command & Control Centers (CCC) along with a series of Sensor Stations (SS) that form a hierarchical architecture. The sensor stations are set up all over the surveillance area and can be fixed over mobile stations.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 21.8 Billion |
| CAGR | 8.8% (2022-2030 ) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, System, Information By Application Scale Platform |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America |
| Key Market Drivers |
|
Market Competitive Analysis:
The prominent contenders in the coastal surveillance market include:
- Controp Precision Technologies Ltd (Israel)
- Saab AB (Sweden)
- Indra Sistemas SA (Spain)
- Tokyo Keiki Inc. (Japan)
- Frequentis AG (Austria)
- Lockheed Martin Corporation (US)
- Northrop Grumman Corporation (US)
- Selex Es Spa (Italy)
- Terma AS (Denmark)
- Rolta India (India)
- Thales Group (France)
- Kongsberg Gruppen (Norway)
- Kelvin Hughes (UK)
- Elbit Systems Ltd (Israel)
- Raytheon Technologies Corporation (US)
Market USP Covered
Market Drivers
Security has emerged as one of the biggest issues for numerous maritime areas that are characterised by an extremely complex environment. This scenario has raised the need for accurate and advanced coastal surveillance systems that have control and command capabilities, armed with integrated technologies like electro-optical systems, Automatic Identification Systems (AIS) and radar. Coastal surveillance systems also identify, track and recognize intruders, which helps the security forces to gain an understanding of their exact location. In a nutshell, the rampant need for effective network centric warfare, survivability, qualitative naval superiority, and high situational awareness will foster the growth of the coastal surveillance market.
Market Restraints
Shortage of resources used in managing changes in the technological environment could restrain market growth in emerging nations.
Browse In-depth Market Research Report (176 Pages) on Coastal Surveillance: https://www.marketresearchfuture.com/reports/coastal-surveillance-market-10327
COVID-19 Analysis
The COVID-19 pandemic has been unfavorable for the majority of the sectors worldwide, giving rise to a number of public health measures, and disrupting the supply chains of the manufacturers. The spread of the pandemic has led to a shutdown of various operational facilities across the globe.
However, the companies active in the coastal surveillance market are trying to safeguard the wellbeing and health of their employees while backing government goals with respect to the maintenance of vital business activities. Reduction in cash flow has been another major concern, with most of the customers falling behind on payments or unable to make purchases, while inventory is canceled owing to disrupted supply chains. On the bright side, many coastal surveillance system developers are working on strategizing operations to remain resilient during the pandemic with minimum economic losses.
Segment Overview
MRFR report aims to present a detailed framework of the coastal surveillance industry, and has, therefore, listed segments such as application, scale, and platform for a better understanding.
Applications considered in the report are Intelligence, Reconnaissance and Electronic Warfare, Command & Control, and more. The highest growth rate will be achieved by the command & control segment between 2019 and 2026, owing to the rising use of coastal surveillance systems for command-and-control applications with respect to illegal activities.
Scale-based segments are moderate and large. Large-scale surveillance procured the lead in 2019, on account of the rising use of aerial vehicles for a number of defense applications including tracking, intelligence, reconnaissance and surveillance. Meanwhile, the moderate-scale surveillance system segment should claim the fastest growth rate over the years to come.
Platforms listed in the report include navy, coast guard and others. Coast guard segment could grow at the highest rate in the coming years, having taken the leading position in 2019, in view of the surging use of coastal surveillance systems by the coast guards for threat intelligence and response management. It is also anticipated that the navy applications of coastal surveillance systems can expand at a significant pace in the years to follow.
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Regional Analysis
North America has taken the lead in the global market and MRFR experts believe that the region should continue making huge waves throughout the conjectured period, backed by the robust presence of world-renowned players like Lockheed Martin Corporation, Raytheon Technologies Corporation and Northrop Grumman Corporation. and high investments made by these companies in the development of advanced surveillance systems and solutions.
Europe, with the escalating deployment of modern systems by military organizations to conduct surveillance, reconnaissance and intelligence missions, has procured the second position in the global market.
Asia Pacific will capture the highest growth rate over the coming years, encouraged by the rising spending on defense combined with the surge in terrorist activities in India, Indonesia, Australia and China.
Lastly, Middle East should emerge as a vital market, in view of the growth in defense and military expenditures in countries like the UAE, Israel and Saudi Arabia.
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