Global Coastal Surveillance Radar Market was valued at US$ 750Mn in 2017 and is expected to reach US$ 1250Mn by 2026, at a CAGR of 6.59% during a forecast period.
Due are increasing seaborne trade. Underwater oil reserves and other offshore resources are preserving, human trafficking through the waterways, rising demand for security from natural threats in sea. Essential means of businesses between various countries, increased installations of these systems by the coastal guards and naval agencies will drive the market in the coastal surveillance radar market.
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Based on the Platform, Ship borne segment is expected to hold the largest share in the market during the forecast period. Trends illustrate to secure their coastlines from illegal activities and better shipping business via safety. Rising tourist and rising budget are some effects in this segment growth, countries are striving to gain more control over maritime assets such as underwater oil reserves and other offshore resources. Geopolitical disputes are gradually aggravating which will create more opportunity. These ship borne radars are mounted on military and defense ships as well as cargo ships to identify enemy missiles, aircraft, and ships and also to determine the weather condition around the sea. In End User, Oil & Gas is also expected to lead the market growth.
The report provides details list of drivers and restraints of the market, which are influencing the market growth.
Major driving factors of the autonomous ships are increased continuous global connectivity, benefit from a remote operatorâ€™s assistance, self-drive facilities, increase in the requirement of line fit for autonomous ships, eliminating the approximate 80% of maritime accidents attributed to human error as well as contribute to greater efficiency. Casualty losses, adverse weather conditions and criminal activities. Advances in sensor technology, adoption of these advanced technologies in large numbers with an objective to modernize the naval will create more opportunity in Coastal Surveillance Radar market. China, India, South-Korea, North-Korea and Japan are in order to improve or modernize their infrastructure and secure the coastlines, ports and harbors. Natural Calamities and huge investment cost will act as a restraint to the market.
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period owing to changing and developing technology, pertaining to the huge demand for such containerization among defense forces especially Chinese, South Korean and Vietnamese Government. Rising terrorist attacks and other political and warring activities. Asian governments are increasing their defense spending at quite a higher rate, they are mainly doing this commensurately with their economic growth, increasing of Military & Security fields expenditures, and increasing number of troop deployment from these countries is anticipated to be reason behind the growth of coastal surveillance radars market in Asia Pacific region.
The report includes a detailed study of Porterâ€™s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
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Scope of the Report for Coastal Surveillance Radar Market
Global Coastal Surveillance Radar Market, by Application
Command and Control
Surveillance and Reconnaissance
Global Coastal Surveillance Radar Market, by Type
X-band & S-band
Global Coastal Surveillance Radar Market, by Platform
Global Coastal Surveillance Radar Market, by Structure
Global Coastal Surveillance Radar Market, by End-User
Oil & Gas
Maritime Protection Agencies
Global Coastal Surveillance Radar Market, by Region
Middle East & Africa
Global Coastal Surveillance Radar Market, by Scale
Large Scale Surveillance
Moderate Scale Surveillance
Key Players Operating in the Global Coastal Surveillance Radar Market
Minrav Holdings Ltd.
FedEx Supply Chain
American International Contractors
Selex Es S.P.A
Lockheed Martin Corporation
The Raytheon Company
Elbit Systems Ltd.
Indra Sistemas, S.A.
Tokyo Keiki Inc.
Controp Precision Technologies Ltd.