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Maritime Surveillance Market Report 2023-2032: Emerging Trends, Competitive Landscape, Future Outlook And Major Players | Northrop Grumman, Raytheon Technologies Corporation, Thales Group, Lockheed Martin, Saab AB
Maritime Surveillance Market
The Business Research Company's Maritime Surveillance Global Market Report 2023 identifies The increase in maritime commerce activity as the major driver for the Maritime Surveillance Market's growth in the forecast period. The increase in maritime commerce activity is expanding the maritime surveillance market, as it comprises all procedures required for identifying, tracking, and comprehending activities in the marine domain as well as in all other fields that have a bearing on the maritime environment.
The global maritime surveillance market size is expected to grow from $21.17 billion in 2022 to $23.05 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global maritime surveillance market size is expected to reach $31.41 billion in 2027 at a CAGR of 8.0%.
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Major competitors in the Maritime Surveillance Market are Northrop Grumman, Raytheon Technologies Corporation, Thales Group, Lockheed Martin, Saab AB, Elbit Systems Ltd., Kongsberg, Indra Sistemas S.A., Furuno Electric Co. Ltd., Bharat Electronics Limited (BEL), SRT Marine Systems Plc, Terma A/S, Smiths Group plc, Westminster Group PLC, OSI Maritime Systems, Safran SA, Sonardyne, Hensoldt AG, Honeywell International Inc., L3Harris Technologies Inc., and Mind Technology Inc.
A key trend in the Maritime Surveillance Market includes Product innovation. Major companies operating in the maritime surveillance market are focused on developing innovative products to strengthen their position in the market. For instance, in May 2023, Image Soft, a Finland-based maritime technology company launched, third generation UNWAS system. This system is equipped with entirely novel digital circuitry and software. The third-generation UNWAS system detects and warns of both underwater and surface hazards using a distributed modular sensor network with passive hydrophones and other sensors. It can handle rigorous acoustic underwater circumstances in numerous adverse settings.
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The Maritime Surveillance Market is segmented -
By Component: Sensors, Radar, Automatic Identification System (AIS) Receiver, Software, Other Components
By Application: Naval, Coast Guard, Other Applications
By End-User: Defense, Customs, Fisheries, Intelligence, Other End-Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Maritime Surveillance Market.
The Business Research Company's "Global Maritime Surveillance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Maritime Surveillance Market Include:
1. Executive Summary
2. Maritime Surveillance Market Characteristics
3. Maritime Surveillance Market Trends And Strategies
4. Maritime Surveillance Market - Macro Economic Scenario
5. Maritime Surveillance Market Size And Growth
……
26. Africa Maritime Surveillance Market
27. Maritime Surveillance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Maritime Surveillance Market
29. Maritime Surveillance Market Future Outlook and Potential Analysis
30. Appendix
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