The global coastal surveillance radar market is expected to grow to US$ 1,237.9 million by 2025 from US$ 775.7 million in 2017
LONDON, Sept. 10, 2018 /PRNewswire/ -- The global coastal surveillance radar market is expected to grow to US$ 1,237.9 million by 2025 from US$ 775.7 million in 2017, growing at a CAGR of 6.1%. The demand for coastal surveillance radar is largely influenced by a number of factors but mainly due to the increasing incidences of marine conflicts, piracy at the sea, drug and human trafficking through the waterways. While the water bodies have remained essential means for businesses between various countries, the security on these water bodies has remained a matter of concerns over the years. As a result, there have been increasing incidences of anti-social activities carried on these water bodies as the smugglers have found it easier to operate through the waterways. As a result, increased installations of these systems by the coastal guards and naval agencies is anticipated to drive the growth in the coastal surveillance radar market.
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As several countries are striving to gain more control over maritime assets such as underwater oil reserves and other offshore resources, traditional geopolitical disputes are gradually aggravating.Following these disputes, the demand for constant and efficient maritime surveillance is being emphasized by all countries.
One of the major prevailing disputes is China's conflict with its neighbors in the South China Sea and the Pacific Ocean, which is driving the demand for coastal surveillance radar systems in the South East Asian region, particularly in building naval strengths to counter both surface and underwater threats from enemies.
Major navies in the regions, especially China and India are emphasizing on the development of technologically advanced SONAR (Sound Navigation and Ranging), however, the demand for coastal surveillance radars is also gaining momentum substantially in order to effectively monitor illegal access in the maritime boundaries of these countries.In addition, China and India have longer coastlines as compared to various other countries and the governments of China and India are striving hard to secure respective coastlines.
Owing to past experiences of terrorist attacks in India, through oceanic routes, Indian Ministry of Defense is constantly increasing surveillance systems along coastlines.
The global coastal surveillance radar market has been segmented by type, platform and end-user.The global coastal surveillance radar market has been segmented by type into X-band, S-band, X-band and S-band, and Others.
On basis of platform, the coastal surveillance radar market is segmented into shipborne, land-based and airborne.The major users for these radar systems constitute the end-user segment for the coastal surveillance radar market.
Thus, on the basis of end-users, the market has been bifurcated into ports, harbor, and oil & gas industry; and the maritime protection agencies of various countries across the globe.
The overall coastal surveillance radar market size has been derived using both primary and secondary source.The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the coastal surveillance radar market.
It also provides the overview and forecast for the global Coastal surveillance radar market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.Also, the primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the coastal surveillance radar market.
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