“The Coastal Surveillance Market is projected to grow at a CAGR of 3.38%”
The coastal surveillance market is expected to grow from USD 29.08 billion in 2016 to USD 34.34 billion by 2021, at a CAGR of 3.38% from 2016 to 2021. The increasing demand for better command and control of a situation in coastal areas, at sea, and others through updated ISR (intelligence, surveillance & reconnaissance) functions and using the advanced computer is the main driver for the coastal surveillance market.
“Coast guard projected to grow at the highest rate for the forecast period”
The naval segment is expected to have the largest market share in the coastal surveillance market. The coast guard end-use is expected to have the highest growth rate during the forecast period. Increased immigration, piracy, and territorial disputes are the prime reason for the high growth rate.
“High growth observed in the port security segment”
The demand for national coastal surveillance is expected to have the largest market share in 2016. The port security segment is expected to grow at the highest CAGR during the forecast period. Increased theft and piracy incidents are the reason for the high growth rate.
“North America accounted for the largest market share in the coastal surveillance market in 2016”
In 2016, North America dominates the coastal surveillance market, by region. Countries in this region include the U.S. and Canada. The U.S. focuses on innovations obtained from R&D and technological advancements. The North American coastal surveillance market is mainly driven by factors such as the U.S. army’s missions overseas (In Afghanistan, Iraq, & NATO) and to safeguard homeland security. The need to shorten mission cycle time and to reduce the number of casualties, the countries in North America are investing in coastal surveillance systems.
Break-up of profile of primary participants in the coastal surveillance market
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Major companies profiled in the 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.
Objectives of the Study:
- The report analyzes the market on application (command & control, communication, computers, intelligence, surveillance and reconnaissance, electronic warfare), end-user (naval, coast guard, and others), structure (national, regional and port), scale (large-scale surveillance & moderate scale surveillance) and maps these segments and sub-segments across major regions worldwide, namely, North America, Europe, Asia-Pacific, the Middle East, and Rest of the World.
- The report provides in-depth market intelligence regarding the market dynamics and major factors that influence the growth of the coastal surveillance market (drivers, restraints, opportunities, and industry-specific challenges), along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the overall coastal surveillance market.
- The report also covers competitive developments such as long-term contracts, joint ventures, mergers, new product launches and developments, and research & development activities in the coastal surveillance market, in addition to business and corporate strategies adopted by key market players.