Pune, India, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global Maritime surveillance and intervention market size was valued at USD 19.94 billion in 2022. The market is projected to grow from USD 22.18 billion in 2023 to USD 35.87 billion by 2030, registering a CAGR of 7.1% during the forecast period.
Maritime surveillance and intervention systems play a crucial role in enhancing maritime security by optimizing operations and conducting reconnaissance activities. Kongsberg Gruppen ASA, a leading company in this field, has developed advanced autonomous underwater vehicles (AUVs) such as Hugin and its upgraded version, Hugin Superior. Fortune Business Insights presents this information in their report titled "Global Maritime Surveillance and Intervention Market, 2023–2030."
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List of Key Players Profiled in the Maritime Surveillance and Intervention Market Report:
- Indra Sistemas, S.A. (Spain)
- Raytheon Technologies Corporation (U.S.)
- Saab AB (Sweden)
- Elbit Systems Ltd. (Israel)
- Furuno Electric Co., Ltd. (Japan)
- Bharat Electronics Limited (Bengaluru)
- Dassault Aviation SA (France)
- Naval Group (France)
- Kongsberg Gruppen ASA (Norway)
- SRT Maritime Systems plc (U.K.)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 7.1% |
| 2030Value Projection | USD 35.87 billion |
| Market Size in 2023 | USD 22.18 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Maritime Surveillance and Intervention Market Growth Drivers | Growing Focus on Strengthening Maritime Safety and Security to Fuel Demand for Maritime surveillance and Intervention Solution |
| Development of Upgraded Maritime surveillance and Intervention Aircraft to Deliver Optimized Surveillance and Intervention Facilities to Aid Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/maritime-surveillance-and-intervention-market-103458
COVID-19 Impact:
COVID-19 Enhanced Coastline Security with Maritime Surveillance UAVs
The maritime industry experienced a significant impact from the outbreak of the coronavirus. To effectively monitor the coastline during this period, coastguards turned to unmanned aerial vehicles (UAVs) for remote maritime surveillance operations. These UAVs played a crucial role in detecting any violations of lockdown regulations. As a result, there was a notable increase in the demand for maritime surveillance UAVs. COVID-19 Impact:
COVID-19 Enhanced Coastline Security with Maritime Surveillance UAVs
The maritime industry experienced a significant impact from the outbreak of the coronavirus. To effectively monitor the coastline during this period, coastguards turned to unmanned aerial vehicles (UAVs) for remote maritime surveillance operations. These UAVs played a crucial role in detecting any violations of lockdown regulations. As a result, there was a notable increase in the demand for maritime surveillance UAVs.
Segments:
Dominant Product Segment to Experience Rapid Expansion with Advanced Surveillance Systems
By component, the market is divided into software and product.
Due to the increasing number of advanced surveillance systems being introduced through product launches, the product segment is projected to exhibit significant growth.
Rise in Cross-Border Tensions Fuels Dominance of Surveillance and Tracking Segment
By application, the market is divided into surveillance and tracking, navigation, Maritime traffic management, search and rescue, and others. Driven by escalating cross-border tensions, the surveillance and tracking segment is expected to assert its dominance in the industry. This can be attributed to the growing demand for security systems as a means to enhance overall safety and protection.
Boost in Military Segment Growth Driven by Naval Fleet Expansion and Enhanced Security Solutions
By end user, the market is segmented into civil, commercial, and military.
The growth of the military segment is expected to be fueled by factors such as the expansion of naval fleets, increased investments in security solutions, advancements in risk assessment and investigation capabilities, and other related factors.
Geographically, the market is studied across North America, Europe, Asia Pacific, Rest of the World.
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Report Coverage:
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Addressing Maritime Security Challenges through MSI Solutions
The global maritime industry is witnessing increased traffic due to the growing ocean trade. This rise in seaway transportation has led to a surge in ocean crimes, prompting the growth and adoption of Maritime surveillance and intervention market share and solutions. Additionally, international pressure and the threat of terrorist activities have further emphasized the need for maritime security.
Challenges in developing advanced surveillance solutions for stealth vessels, including high initial costs and the risk of cyber-attacks, hinder Maritime surveillance and intervention market growth.
Regional Insights
Rising Deployment of Advanced Maritime Surveillance Systems Drives Growth in North America
The North America market for Maritime surveillance and intervention was valued at USD 2.16 billion in 2022, driven by the rising deployment of advanced systems for enhanced coastline security. Canada's extensive coastline and favorable regulatory norms contribute to the high demand for Maritime surveillance and intervention solutions in the region.
Europe, with its well-established maritime industry and significant trade activities in countries such as Norway and Greece, holds the second largest share.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest Technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of COVID-19 Pandemic on Global Maritime Surveillance and Intervention Market
- Global Maritime Surveillance and Intervention Market Analysis, Insights and Forecast, 2019-2030
- 5.1 Key Findings / Definition
- 5.1. Market Analysis, Insights and Forecast - By Component
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- 5.1.1. Product
- 5.1.2. Software
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- Market Analysis, Insights and Forecast - By Application
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- 5.2.1. Surveillance and tracking
- 5.2.2. Navigation
- 5.2.3. Maritime traffic management
- 5.2.4. Search & Rescue
- 5.2.5. Others
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- Market Analysis, Insights and Forecast - By End User
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- 5.3.1. Military
- 5.3.2. Commercial
- 5.3.3. Civil
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- Market Analysis, Insights and Forecast - By Region
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- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Rest of the World
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- North America Maritime Surveillance and Intervention Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast - By Component
- Product
- Software
- Market Analysis, Insights and Forecast - By Application
- Surveillance and tracking
- Navigation
- Maritime traffic management
- Search & Rescue
- Others
- Market Analysis, Insights and Forecast - By End User
- Military
- Commerical
- Civil
- Market Analysis, Insights and Forecast - By Country
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- 6.1.1. U.S. (By End User)
- 6.1.2. Canada (By End User)
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- Market Analysis, Insights and Forecast - By Component
TOC Continued…!
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Competitive Landscape
Key Players' Growth Driven by Strategic Collaboration and Product Innovation
The market is fragmented, with companies such as Saab AB, Raytheon Technologies Corporation, and Dassault Aviation SA. These focus on acquisitions, product development, and technological collaborations to expand their product portfolio and maintain competitiveness.
Key Industry Development:
- October 2021 – The European Maritime Safety Agency (EMSA) has awarded French space agency subsidiary CLS and European drone manufacturer TEKEVER new contracts for remote surveillance of European waters. This innovative contract includes the use of lifeboats and many new sensors.
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