Maritime Surveillance Market size to grow by USD 1.47 billion from 2022 to 2027, Airbus SE, BAE Systems Plc, Elbit Systems Ltd. and more among the key companies in the market, Technavio

NEW YORK, Feb. 28, 2024 /PRNewswire/ -- The maritime surveillance market is estimated to grow by USD 1.47 billion from 2022 to 2027. The market is estimated to be growing at a CAGR of 3.65% during the forecast period. The maritime surveillance market report includes information on the product launches, sustainability, and prospects of leading vendors including Airbus SE, BAE Systems Plc, Elbit Systems Ltd., Furuno Electric Co. Ltd., HENSOLDT AG, Honeywell International Inc., Kongsberg Gruppen ASA, L3Harris Technologies Inc., Lockheed Martin Corp., MIND TECHNOLOGY INC., Northrop Grumman Systems Corp., Raytheon Technologies Corp., Saab AB, Safran SA, Sonardyne International Ltd., SRT Marine Systems Plc, Teledyne Technologies Inc., Terma AS, Thales Group, and The Boeing Co. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027).  View Sample report

Vendor Landscape
The maritime surveillance market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

• The growing marine threats are the major factor that drives the global maritime surveillance market growth.
• In national security, territorial integrity, global trade, immigration, and migration, maritime borders play an important role. Patrolling territorial water areas with state-of-the-art flying platforms is of increasing importance, for many countries with long coastlines. 
• For example, the oil rigs in the Gulf of Guinea in Western Africa are highly vulnerable to the threat of piracy.
• Hence, such factors drive the market growth during the forecast period.

The issues related to privacy can challenge the growth of the maritime surveillance market growth. The expansion of the Chinese naval fleet in critical regions is an emerging trend fueling the global maritime surveillance market growth. Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. View Sample Report

Geographical Analysis

North America is estimated to account for 33% of the global market growth during the forecast period. The US  is a major market for marine surveillance in the region. This growth can be attributed to the growth of the marine surveillance market is the large number of Americans participating in water-related recreational activities. Additionally, the growth of the marine surveillance market is the large number of Americans participating in water-related recreational activities. Hence, the growing demands for maritime security in the United States are expected to boost the demand for marine surveillance during the forecast period.

Market Segmentation

This maritime surveillance market report extensively covers market segmentation by component (sensors, radar, AIS receiver, and software and others), end-user (defense, customs, fisheries, intelligence, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The market share growth by the sensors segment is significant during the forecast period. Sensors are used in a wide range of maritime applications including hydraulic cylinder position measurement, marine machinery condition monitoring, crane and deck hoist load measurement, and tank pressure measurement. Some major benefits of sensors include near-lossless transmission, increased sensitivity during data collection, and continuous real-time analysis. Hence, such factors are expected to have a positive impact on the sensors segment of the maritime surveillance market during the forecast period. Gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform

Analyst Review

In an era of increasing globalization and interconnectedness, maritime surveillance has emerged as a critical component in ensuring the security and safety of the world's oceans. With the proliferation of illicit activities such as drug trafficking, human trafficking, illegal immigration, and illicit fishing, governments and coastguards worldwide are investing heavily in advanced combat management systems, detectors, surveillance technology, and tracking systems to combat maritime threats effectively.

The maritime surveillance market encompasses a wide array of technologies and solutions designed to monitor and protect coastal waters, shipping infrastructure, and maritime traffic. At the heart of this market are sophisticated surveillance systems equipped with cutting-edge tracking software and computer vision capabilities, enabling authorities to detect and respond to potential threats in real-time.

From the bustling ports of North America to the shipping lanes of the European region and the vast expanses of the Asia-Pacific region, maritime surveillance plays a crucial role in safeguarding against oceanic crimes and geopolitical tensions. Governments, manufacturers, and law enforcement agencies collaborate to deploy unmanned aerial vehicles (UAVs), maritime surveillance UAVs, and robotic technology to enhance monitoring capabilities and patrol coastlines effectively.

The rise of geopolitical tensions, coupled with the increasing frequency of pirate attacks and unlicensed fishing, underscores the importance of maritime capabilities and intelligence, surveillance, tracking, and reconnaissance (ISR) assets. Nations worldwide are bolstering their maritime capabilities through initiatives such as submarine deterrent patrols and the deployment of specialized coastguard units like the Spratly Backbone Fleet in China and Japan.

In response to the challenges posed by maritime threats, the global lockdown witnessed a surge in demand for advanced surveillance systems and maritime security solutions. Manufacturers are innovating rapidly to meet this demand, developing state-of-the-art surveillance technology tailored to the unique needs of maritime law enforcement and defense agencies.

As the maritime surveillance market continues to evolve, stakeholders must remain vigilant in addressing emerging threats and vulnerabilities. By harnessing the power of technology and collaboration, the international community can ensure the security and sustainability of the world's oceans for generations to come. 

The Maritime Surveillance Market is booming, with advanced combat management systems and detectors enhancing surveillance capabilities. Tracking systems and GIS play vital roles in maritime operations. View Sample Report

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1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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SOURCE Technavio