Coastal Surveillance Market Size, Trends & Analysis - Forecasts to 2026 By Type of Application (Command & Control, Intelligence, Reconnaissance, and Electronic Warfare), By Type of Scale (Large-Scale Surveillance and Moderate-Scale Surveillance), By Type of Platform (Coast Guard, Navy, and Others), By Type of Region (NA [North America], Europe, APAC [Asia Pacific], MEA [the Middle East & Africa], and CSA [Central & South America]), End-User Landscape, Vendor Landscape, Company Market Share Analysis & Competitor Analysis
The coastal surveillance market is interpreted to present peremptory advancement in CAGR by 4% during the forecast period (2020-2026). Coastal surveillance is a virtual barrier system that is used to recognize, track, identify, and destruct intruders. These are missile critical solutions based on the latest software and equipment. The functioning of various verticals was disrupted due to the COVID-19 pandemic. The defense sector has been working round the clock to safeguard the nation and its citizens from unexpected threats. Hence, it is predicted that the global market is set to rise to an appreciable prominence in the forecast years. A jump in warfare, an increase in naval & coastal exercises, necessity to change conventional surveillance systems are some of the few factors affecting the growth of the coastal surveillance market.
Intelligence, reconnaissance, command & control, electronic warfare, are the types of applications in the coastal surveillance market. The intelligence segment is seen to dominate in the forecast period. Demand in AI application for coastal surveillance, increasing boundary conflicts, and an increase in budget provisions for defense are the factors helping the enlargement of the market.
Based on the type of scale, large-scale surveillance and moderate-scale surveillance are the market bifurcations of the global market. Moderate-scale surveillance is depicted to be growing rapidly in this market. Higher seaborne trade, demand for consumer products, and an increment in manpower accessibility are the drivers inducing the development of the market.
Coast Guard, Navy, and others are the type of platforms in the coastal surveillance market. Navy is predicted to be the largest shareholder in the forecast years. An increase in FDI, the rising population in emerging nations, and growing cases of smuggling are the accelerators of the global market.
Based on the geographical analysis, North America has remained to be a preferred region yet, the Asia Pacific is followed to make elevated motility in the global market. Border disputes, an increase in operational efficiency, and a rise in illegal activities are the market influencers aiding the growth for the forecast period.
Thales Group, Terma AS, Rolta India, Selex Es Spa, Frequentis AG, Northrop Grumman Corporation, Kongsberg Gruppen, Saab AB, Elbit Systems Ltd, Indra Sistemas, SA, Lockheed Martin Corporation, Raytheon Technologies Corporation, Controp Precision Technologies Ltd., Tokyo Keiki Inc, Kelvin Hughes, and other industries are the dominant players in the global coastal surveillance market.
Please note: This is not an exhaustive list of companies profiled in the report.
In February 2020, BEL announced to establish a coastal surveillance system to upgrade India’s maritime security.
In October 2019, India and Bangladesh signed MoU to establish the coastal surveillance system in Bangladesh.
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The Global Coastal Surveillance Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Coastal Surveillance Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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