Growing Maritime Trade to Open New Revenue Avenues for Market Players
According to the International Maritime Organization, the marine network carries more than 90 percent of world commerce activities. Many Asian maritime countries, as well as North America and Europe, are increasing their expenditures in massive port building and expansion plans in order to manage greater shipping volumes. In the next years, this will drive up demand for screening, scanning, and surveillance technologies.
In addition, as maritime commerce and transportation expands, criminal activities such as the trafficking of forbidden drugs, illegal immigration, and assaults on ports and coastal regions are on the rise, driving up need for maritime security throughout the world. Maritime security is concerned with the security of ships, ports, & other maritime infrastructure against deliberate harm caused by terrorism and disruption.
In areas like West Africa, Latin America, and the Caribbean, where pirate assaults and robberies have escalated in recent years, the need for monitoring and tracking devices is projected to be significant. On the other hand, although governments in North America and Europe are adopting modern maritime surveillance technology for greater security, the Asia-Pacific has been the driving force behind the acquisition of surveillance systems due to booming commerce and rising maritime tensions.
North American Region Holds Dominant Position in Global Direction Finder Market
On the basis of region the direction finder market is sub-segmented into North America, Europe, APAC, LATAM, MEA. The North America region is the largest market and is anticipated to grow with significant growth rates. The key reason for this is the robust investment in the development and improvement of direction finder solutions in the United States and Canadian vessel traffic and air traffic control services market. According to Visiongain analysis, North America dominated the global direction finder market was valued at US$30.78 million in 2020. The region is expected to reach US$41.74 million in 2031 while growing at a CAGR of 2.88% from 2021 to 2031.
What are the Market Drivers for Global Direction Finder Market?
- Rising Need for Tracking Due to Unauthorized Activities
- Radio Direction Finders for use in Coastal Waters
- Rising Maritime Terrorism Activities to Boost Market Growth
What are the Market Opportunities for Global Direction Finder Market?
- Growing Maritime Trade to Open New Revenue Avenues for Market Players
- Raises Standards in Air Safety
- Fuure Proof Safety Investment
Discover how to stay ahead
Our 330+ page report provides 500+ tables and charts/graphs. Read on to discover the most lucrative areas in the industry and the future market prospects. Our new study lets you assess forecasted sales at overall world market and regional level. See financial results, trends, opportunities, and revenue predictions. Much opportunity remains in this growing Direction Finder Market. See how to exploit the opportunities.
Forecasts to 2031 and other analyses reveal the commercial prospects
- In addition to revenue forecasting to 2031, our new study provides you with recent results, growth rates, and market shares.
- You find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints, and challenges), PEST, Porter’s Five Forces, & SWOT Analysis, product profiles and commercial developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect your industry.
- Portable Direction Finder
- Base-station Direction Finder
- Vehicle-mounted Direction Finder
- Air Traffic Control
- Vessel Traffic Service
- Mobile Land
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
- South Africa
- Rest of MEA