Coastal surveillance Market to Surpass Valuation of USD 43.19 Bn by 2028, Notes Emergen Research Study
The global coastal surveillance market size is expected to reach USD 43.19 Billion at a steady CAGR of 3.1% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rise in asymmetric engagement, advancements in technologies, and increasing focus on coastline security across various countries. Asymmetric threats are a major concern for coastal security, including offshore asset protection. A significant portion of global critical infrastructure such as oil wells, pipeline loading arms, floating LNG platforms, and drilling rigs are located offshore. Coastal surveillance systems, through geospatial analytics, assist in detecting asymmetric threats by deploying Artificial Intelligence (AI) to execute real-time data analysis to prevent any such engagements, thereby preventing substantial monetary losses. Also, coastal surveillance systems are capable of tracking and recording any illegal activity and identifying the mothership, and the recorded radar image can be produced in a court of law.
Furthermore, the report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the Coastal Surveillance market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Coastal Surveillance market.
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Some Key Highlights from the Report
- In August 2020, FLIR Systems made an announcement about the introduction of SeaFLIR 280-HDEP, which is a coastal surveillance sensor system. SeaFLIR 280-HDEP is developed to be used in any maritime mission situation and offers unparalleled battlespace awareness and agility support.
- Intelligence gathered from coastal areas is crucial for vessels to enter and leave a harbor easily and safely. Rising incidence of illegal/illicit activities in coastal areas, including illegal trade and smuggling has been fueling deployment of moderate scale coastal surveillance systems.
- Coastal surveillance systems are essential to deliver real-time information about coastal area activities to coast guards. Coastal surveillance systems offer complete control over a coastline area by delivering precise recognition, tracing, and identification of high-speed and small targets that may enter an under-surveillance coastal zone. Coastal surveillance systems assure total shore-based situational awareness, thus avoiding illegal occurrences and activities while safeguarding marine life, environment, and critical infrastructures from any kind of intrusion.
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The report further divides the Coastal Surveillance market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Coastal Surveillance market.
Coastal Surveillance Market Segmentation
Emergen Research has segmented the global coastal surveillance market on the basis of type, application, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Large Scale Coastal Surveillance
- Moderate Scale Coastal Surveillance
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Maritime Monitoring
- Intelligence, Surveillance, and Reconnaissance
- Search & Rescue
- Electronic Warfare
- End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Coast Guard
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report also studies the key companies of the Coastal Surveillance market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some players analyzed in the report are:
Elbit Systems Ltd., HENSOLDT UK, Thales Group, Indra Sistemas SA, Terma A/S, Frequentis AG, Konsberg Gruppen, Northrop Grumman Corporation, Saab AB, and FLIR Systems.
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Coastal Surveillance market?
What are the key product types and applications of the Coastal Surveillance industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Coastal Surveillance market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
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