The purpose of this comprehensive forecast report presented by The Insight Partners is to elaborate the various market projections impacting the global Coastal Surveillance Radar market size during the period through 2019-2025. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the Coastal Surveillance Radar market during the forecast period.
The global Coastal Surveillance Radar market accounted for US$ 775.7 Mn in 2017 and is expected to grow at a CAGR of 6.1% during the forecast period 2018 - 2025, to account for US$ 1,237.9 Mn in 2025.
The oceans are vital nodes of businesses for many strategically located countries across the globe. Sea provides the transport mean for various goods, and the feasible option for countries to carry out import and export trading. In the last few decades, the technology has widened the span of interactions between the sea and the humans. Amazing quantities of large and sophisticated infrastructure have been developed, deployed, and positioned either on the surface, underwater, or on the seabed. New and increasingly autonomous technologies have replaced humans where the environment makes human life difficult or impossible. Ranging from dynamic positioning systems to remotely operated vehicles, the fast-developing science, and its end users, stimulates figments on the future of the seas. Geographically, the market for coastal surveillance radars is segmented as North America, Europe, Asia Pacific, Middle East and Africa, South America. The most prominent region in the current market scenario stands for APAC owing to the rapid criminal activities on the South China Sea. The market for coastal surveillance radars is foreseen to witness an expeditionary growth in Asia Pacific region, pertaining to the huge demand for such containerization among defense forces especially Chinese, South Korean and Vietnamese Government. The rise in terrorist attacks and other political and warring activities in the above mentioned countries is leading the defense forces to deploy troops along the borders as well as in remote locations. The 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 during the forecast period.
The market for coastal surveillance radar is concentrated with substantial numbers of established players as well as emerging players across the globe. The major companies operating in the market include Terma, Kelvin Hughes, Harris Corporation, GEM Electtronica, FLIR Systems, Thales Group, Aselsan A.S., Accipiter Radar Technologies, Elbit Systems, Israel Aerospace Industries, Raytheon Company, Easat Radar Systems Limited, and Blighter Surveillance Systems Ltd. among others.
he major defense forces such as the US, China, India, Russia, and the UK among others, as well as moderately spending defense forces across the globe are constantly investing lump sum in modernization of their troop, infrastructures, artilleries and armaments. The countries with longer coastlines and robust financial conditions are more inclined towards securing their coast lines, while on the other hand, other countries are deploying their troops and technologies to other country’s coastlines, in order to improve or modernize their infrastructure and secure the coastlines, ports and harbors. For instance, Croatia has recently enhanced their coastline surveillance structures with the SAAB’s coastal surveillance systems. SAAB has deployed several sensors along the Croatian coast which are connected to various control centres, which facilitates the Croatian Ministry of Interior Border Police to effectively monitor the coastlines and deter any potential threat. The adoption of these advanced technologies in large numbers with an objective to modernize the forces, and infrastructures is anticipated to bolster the growth of market for coastal surveillance radar systems during the forecast period.
The global coastal surveillance radar market by geography is segmented into five strategic regions including; North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific held the maximum market share in 2017 in global coastal surveillance radar market. Asia Pacific is also estimated to exhibit massive growth in adoption of coastal surveillance radar during the forecast period, thereby escalating at a prime rate over the years from 2018 – 2025.
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