Coastal Surveillance Market Size, Share, Growth, and Industry Growth by Type (Port Coastal Surveillance, Regional Coastal Surveillance and National Coastal Surveillance) By Application (Coast Guard, Naval and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Coastal Surveillance Market REPORT OVERVIEW

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The global coastal surveillance market size was USD 35844.7 million in 2021 and market is projected to touch USD 52158.3 million by 2031, at a CAGR of 3.82% during the forecast period.

Security is becoming a bigger issue in many marine regions, which have incredibly complicated environments. The need for very sophisticated coastal monitoring systems has increased as a result. An innovative and integrated border surveillance system known as the Coastal Surveillance System, or CSS, provides command and control capabilities through the employment of integrated technologies including radar, automatic identification systems (AIS), electro optical systems, and numerous other sensors.

Coastal surveillance allows for the detection, monitoring, and recognition of intruders, which aids in pinpointing their location for the security forces. The CSS system is made up of one or more Command & Control Centers (CCC) and a number of Sensor Stations (SS) that are organized in a hierarchy. The sensor stations can be fixed over mobile stations and are positioned all around the surveillance region.

COVID-19 Impact: Decline in Cash to Impede the Market Growth

The COVID-19 pandemic has had a negative impact on most industries throughout the world, leading to a number of public health initiatives and destabilizing the supply chains of the producers. Numerous operating facilities have been shut down all around the world as a result of the pandemic's expansion.

However, the businesses involved in coastal surveillance are working to protect the safety and health of their workers while supporting government objectives for the continuation of essential commercial operations. Another significant issue has been the decline in cash flow as many customers fall behind on payments or are unable to make orders, and inventory is cancelled as a result of interrupted supply chains. Positively, many coastal monitoring system designers are putting their energies into planning how to keep operations viable during the pandemic with the least amount of financial harm.

LATEST TRENDS

"Growing Usage in Defence Sector and Coast Guards to Augment the Market"

Due to the growing usage of aerial vehicles for various defense applications, such as tracking, intelligence, reconnaissance, and large-scale surveillance, this application took the lead. In the meantime, the moderate-scale surveillance system market should have the quickest expansion over the next years. Due to the coast guards' increasing usage of coastal surveillance systems for threat information and response management, the coast guard segment, which has assumed the lead, is expected to develop at the fastest pace in the years to come. The navy's use of coastal surveillance systems is expected to grow significantly in the years to come, according to expectations.

Coastal Surveillance Market Segmentation

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• By Type Analysis

By type, market is segmented into port coastal surveillance, regional coastal surveillance and national coastal surveillance. The port coastal segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into coast guard, naval and others. The coast guard segment will lead the global share through 2031.

DRIVING FACTORS

"Electro- Optical Systems and Automatic Identification Systems to Propel the Market Demand"

One of the main problems for many marine locations, which are characterized by an incredibly complicated environment, is security. This situation has increased the demand for precise and sophisticated coastal surveillance systems that are equipped with integrated technologies like electro- optical systems, Automatic Identification Systems (AIS), and radar and have control and command capabilities. Intruders are also recognized, tracked, and identified by coastal surveillance systems, which aids security authorities in determining their precise position. In a nutshell, the market for coastal surveillance will expand due to the widespread demand for effective network-centric warfare, survivability, qualitative naval supremacy, and high situational awareness.

"Technological Improvements and Effective Integration to Boost the Market"

The coastal surveillance market may have considerable development potential as a result of technological improvements and the effective integration of new technologies like smart containers, which include features like GPS tracking. Additionally, it is projected that ungoverned or underutilized water areas in many parts of the world would present profitable potential for coastal monitoring internationally.

RESTRAINING FACTORS

"High Maintenance Costs and Non- Traditional Seaborne Attacks to Impede the Market"

High integration and maintenance costs, an increase in maritime terrorism and cyberwarfare, the trafficking of illegal weapons and substances, piracy, and other non-traditional seaborne attacks are some of the key reasons limiting the growth of this industry. The expansion of the market in emerging countries can be constrained by a lack of resources needed to manage changes in the technical environment.

Coastal Surveillance Market REGIONAL INSIGHTS

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"North America to Hold the Largest Global Coastal Surveillance Market Share"

North America has assumed the top spot in the global market, and according to MRFR experts, the region should continue to make significant strides throughout the anticipated period, supported by the resolute presence of well-known players like Lockheed Martin Corporation, Raytheon Technologies Corporation, and Northrop Grumman Corporation. in the creation of sophisticated monitoring systems and solutions, as well as significant expenditures made by these businesses.

Europe has taken over second place in the worldwide market because to the increasing use of contemporary technology by military groups to carry out surveillance, reconnaissance, and intelligence tasks.

The region with the fastest growth rate in the upcoming years will be Asia-Pacific, thanks to increased defense expenditure as well as an increase in terrorist activity in countries like China, India, Indonesia, and Australia.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Kongsberg (Norway)
• Wärtsilä (Finland)
• Bharat Electronics (India)
• Raytheon (U.S.)
• Thales Group (France)
• HENSOLDT (Germany)
• Terma (Denmark)
• Furuno (Japan)
• SAAB (Sweden)
• Elbit Systems (Israel)
• Lockheed Martin (U.S.)
• Indra Sistemas (Spain)
• Northrop Grumman (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.