Coastal Surveillance Radar Market Size is Estimated to value US$ 1,423.59 Million, to Grow at 5.7% CAGR by 2028 - The Insight Partners

The coastal surveillance radar market was valued at US$ 964.61 million in 2021 and is projected to reach US$ 1,423.59 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028.

Coastal Surveillance Radar Market report by "The Insight Partners" sheds light on the key drivers and opportunities attributing to market expansion over the analysis period. It also gives in-depth information pertaining to the challenges and threats poised to hinder revenue generation in the forthcoming years. Additionally, the report also provides crucial information regarding leading companies in this business sphere and the trends that are likely to prevail in the near future. The document entails a detailed rundown of the impact of the key factors on the development and growth of the of the business sphere over the forecast timeframe. Promising opportunities in the Coastal Surveillance Radar Market have also been mentioned in the study.

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Companies Profiled in Coastal Surveillance Radar Market report includes: Aselsan A.S., Accipiter Radar Technologies Inc, Blighter Surveillance Systems Ltd., Easat Radar Systems Limited, GEM elettronica, Elbit Systems Ltd., Teledyne FLIR LLC, HENSOLDT, Israel Aerospace Industries Ltd., and Raytheon Technologies Corporation are among the key players that are profiled during the study of the coastal surveillance radar market.

The coastal surveillance radar market is segmented on the basis of band type, platform, end user and geography. Based on band type, the market is segmented into X-band, S-band, X and S-band, and others. Based on platform, the coastal surveillance radar market is segmented into shipborne, land-based, and airborne. The end user segment in the coastal surveillance radar market include ports harbor and oil & gas companies, and maritime patrol agencies. Geographically, the coastal surveillance radar market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America.

Rising warfare, increasing terrorism threats, and rising government initiatives to strengthen the military & defense sector are a few main factors contributing to the constantly rising military expenditure across the globe. According to the data published by the Stockholm International Peace Research Institute (SIPRI) in 2020, the global expenditure across the military & defense sector has experienced a rise of 2.6% from 2019, with the US, China, India, Saudi Arabia, and Russia being the countries with the highest investment in 2020. A significant amount of this expenditure is utilized by the countries to procure military and defense equipment, such as aircraft, ground vehicles, naval ships, and other border monitoring equipment like coastal surveillance radars. Thus, the rise in military expenditure across the world is catalyzing the adoption of technologically advanced coastal surveillance radar systems to ensure efficient security across all coastal borders.

For instance, The Republic of Korea Navy received a new coastal surveillance system from LIG Nex1 and South Korea's Defense Acquisition Program Administration (DAPA) in November 2019. Similarly, in 2021, the Federal Aviation Administration awarded National Defense Industries a second contract to deliver coastal surveillance radar systems, following the successful delivery of the first NDI California Coastal Surveillance, Remote Surveillance System-Maritime (RSS-M) to the Department of Homeland Security/Customs and Border Protection. Such initiatives by the governments and defense administrators year-on-year are fuelling the coastal surveillance radar market growth.

Coastal Surveillance Radar Market research report provides an in-depth examination of the key factors stimulating market expansion. It also sheds light on the challenges or restraining factors that are poised to hinder industry growth over the forecast timeframe. Growth rate, market share captured, and valuation estimates for each region, segment, and company are documented as well.
Furthermore, the Coastal Surveillance Radar Market is segmented based on type, application, and region in order to study it exhaustively and provide the data in a systematic manner. Speaking of competitive landscape, the study includes a list of leading companies along with their product and service offerings, strategic decisions, SWOT analysis, latest developments, market share captured, growth rate, and valuation. The challenges faced by these companies are analysed and solutions for them are given as well.

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Impact of COVID-19 Pandemic on Coastal Surveillance Radar Market:
Despite the downfall in economic activities and national revenues across the globe, governments allocated substantial amounts for their respective defense budgets. According to SIPRI, the global military spending in 2020 was ~US$ 1,981 billion, which was 2.6% higher than that in 2019. A significant portion of military spending is used to procure advanced communication, navigation, and surveillance systems, including coastal surveillance radar. The coastal surveillance radar market was unaffected from the demand side. However, the disruption in the supply chain due to containment measures implemented by the governments affected the coastal surveillance radar market marginally from the supply-side in 2020, which led to a delay in deliveries in coastal surveillance radars. From the Q3 of 2020, the supply chain of manufacturers started to stabilize, which allowed coastal surveillance radar market players to meet their stipulated timeliness of deliveries.

Essential points covered in Coastal Surveillance Radar Market report are:-
1 What will the Coastal Surveillance Radar Market size and the growth rate be in 2028?
2 What are the key growth stimulants of Coastal Surveillance Radar Market?
3 What are the key market trends impacting Coastal Surveillance Radar Market valuation?
4 What are the challenges to market proliferation?
5 Who are the key vendors in the Coastal Surveillance Radar Market?
6 Which are the leading companies contributing to Coastal Surveillance Radar valuation?
7 What was the market share held by each region in 2021?
8 What is the estimated growth rate and valuation of Coastal Surveillance Radar in 2028?

The report also puts forward the current and future market scenario derived after a thorough analysis of the markets across five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. PEST analysis for each region is incorporated as well.
Moreover, key companies contributing to Coastal Surveillance Radar Market valuation are studied thoroughly. The study entails a list of these companies along with exhaustive information regarding their offerings, strategic decisions such as partnerships, product launches, mergers & acquisitions and SWOT analysis.

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Reason to Buy:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Coastal Surveillance Radar Market.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the Coastal Surveillance Radar Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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