Maritime Surveillance & Intervention Market Analysis 2024-2033

The Business Research Company recently released a comprehensive report on the Global Maritime Surveillance and Intervention Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The maritime surveillance and intervention market size has grown rapidly in recent years. It will grow from $26.18 billion in 2023 to $29.06 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to maritime security concerns, illegal activities and piracy, national defense initiatives, search and rescue operations, environmental monitoring..

The maritime surveillance and intervention market size is expected to see rapid growth in the next few years. It will grow to $43.29 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to geopolitical tensions, emerging threats, humanitarian assistance, technological innovations adoption, international collaborations.. Major trends in the forecast period include adoption of blockchain for maritime data security, development of autonomous underwater vehicles, focus on counter-drone technologies for maritime security, introduction of high-frequency radar systems, collaboration and information sharing among maritime nations.

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Market Drivers and Trends:

The rising trade and freight activities by sea are expected to propel maritime surveillance and intervention market growth going forward. Maritime trade refers to the use of ships to move commodities by sea. The lower emissions on long voyages and transportation costs assist producers in adopting sea route for long haul feet. Sea transport is more cost-effective and environmentally friendly than other methods of transporting commodities long distances as it hails many products handled in a single journey. Due to such benefits of sea-borne trade, there is an increase in the demand for maritime surveillance and intervention to ensure an adequate response to any emergent maritime safety or security scenario. For instance, according to Maritime Transport 2021 report prepared by United Nations Conference on Trade and Development (UNCTAD), the global commercial shipping fleet, which includes bulk carriers, oil tankers, container ships, general cargo ships, and other types of ships, has reached 2, 134, 640 (thousand dead-weight tons) in 2021, an increased by 3.04% from 2, 071, 638 in 2020. Therefore, rising trade and freight activities by sea will drive the maritime surveillance and intervention market.

Advancement in technology is a key trend gaining popularity in the maritime surveillance and intervention market. Major players operating in maritime surveillance and intervention are focused on developing technologically advanced solutions such as enabling artificial intelligence, big data analytics, IoT, digital route management, surveillance satellite, and autonomous control system to strengthen their market position. For instance, in July 2021, Elecnor Deimos, a Spain-based aerospace and defense company, launched a Neptune CubeSat, a maritime surveillance satellite. This Elecnor Deimos satellite is entirely dedicated to marine surveillance that uses cutting-edge technologies such as 3D printing, the usage of new materials such as ULTEM®, artificial intelligence, and intelligent sensorisation. It has advanced information technology capable of assessing millions of data collected by ground stations using artificial intelligence technology.

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Major Key Players of the Market:

Indra Sistemas S.A.; Saab Aktiebolag; Raytheon Technologies Corporation; Elbit Systems Limited; Furuno Electric Company Limited; SRT Marine Systems Public Limited Company; Kongsberg Gruppen ASA; Neptune Maritime Security Limited; Securewest International Limited; Dassault Aviation S.A.; Naval Group; Hart Maritime Ltd.; Seagull Maritime Security Ltd.; Solace Global Maritime; Maritime/Air Systems & Technologies; Navantia S.A. Empresa Nacional Bazán de Construcción Naval Militar; Austal Limited; Damen Shipyards Group N.V.; Huntington Ingalls Industries Inc.; Mitsubishi Heavy Industries Ltd.; Samsung Heavy Industries Co. Ltd.; Hyundai Heavy Industries Co. Ltd.; China Shipbuilding Industry Corporation; Bharat Electronics Limited; Larsen & Toubro Limited; Rolta India Limited; Zen Technologies Limited; Safran Electronics & Defense; ThalesRaytheonSystems; Airbus Defence and Space

Maritime Surveillance and Intervention Market 2024 Key Insights:

• The maritime surveillance and intervention market size will grow to $43.29 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• Surge In Sea Trade And Freight Activities Fueling Maritime Surveillance And Intervention Market
• Technological Advancements Transform The Maritime Surveillance And Intervention Market
• North America was the largest region in the maritime surveillance and intervention market share in 2023

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