Maritime Surveillance Market to Expand with Significant CAGR During 2019–2026
Maritime Surveillance Market Statistics – 2026
The global maritime surveillance market size was valued at £19.20 billion in 2018, and is projected to reach £40.61 billion by 2026, registering a CAGR of 9.5% from 2019 to 2026. By application, the coastguard segment was the highest revenue contributor in 2018, accounting for £17.07 billion, and is estimated to reach £34.47 billion by 2026, registering a CAGR of 8.9% during the forecast period. In 2018, the Asia-Pacific region was anticipated to account for the major market share.
The maritime surveillance consists of high-end integrated solutions or software for maritime safety & security and monitoring, and other applications. It is a component that includes multiple radars, sensors, cameras, automated identification system (AIS) receiver/transponders, central control rooms, and others. This combined solution enhances an offshore surveillance and maritime situational awareness and helps increase overall security and reduces risk.
Get Sample [email protected] https://www.alliedmarketresearch.com/request-sample/6254 Major Market Players:
- SRT Marine Systems Plc
- Thales Group
- Elbit Systems
- Bharat Electronics
Maritime surveillance is majorly used as a monitoring system around offshore. The maritime monitoring system is a radar-based solution and all the information is available through offshore operators’ room and onshore control room.
The system gathers traffic and environment information from the radars, AIS, CCTV, VHF, and other sensors. The information is processed and displayed on the single information surveillance display. All data is superimposed on electronic charts.
In addition, the system provides a comprehensive traffic picture of the maritime situation around offshore assets, information about vessels and targets in the guard areas, assures collision avoidance, and provides record and playback of all data in the system. The system can be controlled and monitored remotely. The implementation of such system are at the navels, coastguard areas, and at the port side.
The maritime surveillance market forecasted from 2019 to 2026 by considering all the driving factors that influence equally to the coastal surveillance system. Key Market Segments
- By Application
- Coast Guard
- By Component
- AIS Receiver/Transponder
- By Type
- Surveillance & Tracking
In addition, the market is driven by safety awareness for maritime and rise in trade & fright transport activities through sea. Furthermore, increase in enhanced security concerns, rapid increase in international trade by sea, and regulatory compliances for trade by maritime fuel the market growth.
In addition, implementation of various rules and regulations for the better integration and regulation of maritime security boosts the maritime surveillance market share. High integration & maintenance cost, growth in cyber warfare along with the maritime terrorism, gun-running, drug trafficking, piracy, and other non-traditional seaborne attack are some of the major restraining factors of this market. Furthermore, technological advancements and successful integration with new technology such as smart containers, with abilities such as GPS tracking can offer significant growth opportunities for the maritime surveillance market.
Moreover, ungoverned/untapped sea regions in various parts of the world are anticipated to provide lucrative opportunities for the maritime surveillance solutions globally. The growth of the maritime security & safety industry is driven by supportive regulatory compliances. For instance, the JRC contributes to the implementation of the Integrated Maritime Policy, in particular related to Integrated Maritime Surveillance with its competencies in space technologies and data fusion.
Moreover, the support is provided by responding to the needs of a wide range of maritime policies for irregular migration/border control, maritime security, fisheries control, anti-piracy, oil pollution, and smuggling. In addition, the global dimension of these policies is addressed to help detect unlawful activities in international waters. Moreover, research & implementation of advance technology-based solutions is undertaken to develop novel for addressing existing capability gaps, such as the tracking of small boats.
Furthermore, the European Commission started implementing the cross cutting polices that includes Blue growth, Marine data and knowledge, Maritime spatial planning, Sea basin strategies along with the JRC’s blue hub in-house platform to perform research in the fields of maritime surveillance and Maritime Situational Awareness (MSA) are responsible for creating opportunities for increasing the maritime surveillance market share at certain extend. Purchase [email protected] https://www.alliedmarketresearch.com/purchase-enquiry/6254 Key Benefits for Pakistan Rubber Tyre and Tube Market:
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