Coastal Surveillance Market worth 34.34 Billion USD by 2021
The coastal surveillance market is projected to reach USD 34.34
Billion by 2021, at a CAGR of 3.38% from 2016 to 2021. Factors such as
increased demand for network-centric warfare along with the growing demand for
market and competitive intelligence are expected to drive the coastal
surveillance market.
Browse 91 market data Tables and 77 Figures spread through 188
Pages and in-depth TOC on "Coastal Surveillance Market - Global
Forecast to 2021"
Key players profiled in the
coastal surveillance market report include Northrop Grumman Corporation (U.S.),
Thales Group (France), Terma A/S (Denmark), Kongsberg Gruppen (U.K.), SAAB AB
(Sweden), Elbit Systems Ltd. (Israel), and Indra Sistemas S A,(Spain), among
others.
On the
basis of application, the coastal surveillance market has been segmented into
the command & control, communications, computers, intelligence,
surveillance & reconnaissance and electronic warfare application. The
intelligence segment is projected to grow at the fastest CAGR during the
forecast period, 2016 to 2021, primarily because coastal surveillance systems
utilize radio networks to transmit intelligence, surveillance &
reconnaissance information from global positioning data to video and sensor
data.
The Intelligence application segment in the coastal
surveillance market is expected to witness high growth during the forecast
period.
The key applications considered for the coastal surveillance
market study are command & control, communication, computers, intelligence,
surveillance & reconnaissance, and electronic warfare. The intelligence
segment is projected to grow at the highest CAGR during the forecast period, as
it acts as a force-multiplier by providing advanced situational awareness to
armed forces and is the greatest attribute to militaries wielding such
platforms as manned and maritime surveillance. The surveillance and
reconnaissance application segment is the second highest growing market in the
coastal surveillance market over the forecast period.
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The naval segment
to dominate the coastal surveillance market with the highest market share
The naval segment is projected to have the highest market share in
the coastal surveillance market, by end-user. Naval surveillance systems are
used to provide surface patrolling whereby these detect and track small targets
from the vessel and offer uninterrupted, all-weather surface surveillance to
the navy. It monitors the near lower airspace around the vessel and is capable
of detecting and tracking both propeller and jet aircraft up to a certain
altitude providing low airspace monitoring and surveillance for the navy. It
also provides the UAV control and missile detection & guidance facility to the
naval vessel. It is used for search and rescue operations by the navy in case
of missing ships and vessels.
The coastal surveillance market is expected to witness the
highest growth in the Asia-Pacific region.
The Asia-Pacific region is expected to experience extensive growth
opportunities during the next few years. The increase in defense spending among
countries in the APAC region has increased opportunities for coastal
surveillance applications.
The rise in conflicts among
neighboring countries in the APAC region and the threats from growing terrorism
are reasons driving this market in this region. With geopolitical tensions in
the South China Sea and border issues in many countries, procurement of coastal
surveillance equipment will increase across the region.
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