Coastal Surveillance Market Worth 34.34 Billion USD by 2021
PUNE, India, September 16, 2016 /PRNewswire/ --
The report "Coastal Surveillance Market by Application (C2, Communication, Computers, Intelligence, Surveillance & Reconnaissance, and Electronic Warfare), End Use (Naval, Coast Guard), Structure (National, Regional, and Port), Scale - Global Forecast to 2021", published by MarketsandMarkets, The market is projected to reach USD 34.34 Billion by 2021, at a CAGR of 3.38% from 2016 to 2021.
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Browse 91 market data Tables and 77 Figures spread through 188 Pages and in-depth TOC on "Coastal Surveillance Market"
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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.
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
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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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.
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