Global Maritime Surveillance Market Size 2024, Forecast To 2033
6 Mar, 2024
The maritime surveillance market size has grown strongly in recent years. It will grow from $23.05 billion in 2023 to $25.03 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increased globalization, security threats, environmental concerns, commercial industry adoption, collaboration, and cooperation. The maritime surveillance market size is expected to see strong growth in the next few years. It will grow to $34.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to data integration and information sharing, commercial sector integration, geopolitical developments, environmental concerns, security challenges. Major trends in the forecast period include collaboration and information sharing, commercial industry adoption, geopolitical tensions, environmental protection, security concerns, increased global trade.
Global Maritime Surveillance Market Key Driver
The increase in maritime commerce activity is expected to propel the growth of the maritime surveillance market in the coming future. Maritime commerce refers to the buying and selling of goods through the marine transport system. The increase in maritime commerce activity is expanding the maritime surveillance market, as it comprises all procedures required for identifying, tracking, and comprehending activities in the marine domain as well as in all other fields that have a bearing on the maritime environment. For instance, in November 2022, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental body inside the United Nations Secretariat that advocates developing nations' interests in international commerce, the international maritime trade increased to 11 billion tons in 2021. Therefore, the increase in maritime commerce and freight transport activity is driving the maritime surveillance market. The market size for maritime surveillance in 2023 stood at $XX million and is expected to reach $XX million by 2024, with a projected growth rate of XX%. Additionally, by 2028, the market is forecasted to grow to $XX million.
Get A Free Sample Of The Global Maritime Surveillance Market ReportGlobal Maritime Surveillance Market Segments
The maritime surveillance market covered in this report is segmented –
1) By Component: Sensors, Radar, Automatic Identification System (AIS) Receiver, Software, Other Components
2) By Application: Naval, Coast Guard, Other Applications
3) By End-User: Defense, Customs, Fisheries, Intelligence, Other End-Users
By Geography:The regions covered in the maritime surveillance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the maritime surveillance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global maritime surveillance market report during the forecast period. The regions covered in the maritime surveillance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Maritime Surveillance Industry Players
Northrop Grumman Corporation, Raytheon Technologies Corporation, Thales Group, Lockheed Martin Corporation, Saab AB, Elbit Systems Ltd., Kongsberg Gruppen ASA, Indra Sistemas S.A., Furuno Electric Co. Ltd., Bharat Electronics Limited, SRT Marine Systems plc, Terma A/S, Smiths Group plc, Westminster Group plc, OSI Maritime Systems Ltd., Safran SA, Sonardyne International Ltd., Hensoldt AG, Honeywell International Inc., L3Harris Technologies Inc., Mind Technology Inc., General Dynamics Corporation, BAE Systems plc, Leonardo SpA, FLIR Systems Inc., Israel Aerospace Industries Ltd., Teledyne Technologies Incorporated, CONTROP Precision Technologies Ltd., Kelvin Hughes Limited, Navico Holding AS, Harris Corporation, Pole Star Space Applications Ltd., Inmarsat plc, Orbcomm Inc., Iridium Communications Inc., Speedcast International Limited, Marlink AS, Intelsat SA, SES SA, Viasat Inc.
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Maritime Surveillance Market Overview
Maritime surveillance is a procedure that includes both knowledge and awareness of all marine operations. It involves the methodical application of visual, auditory, digital, photographic, or other tools to observe regions, people, or objects in aerospace, cyberspace, the physical world, or other locations.
Maritime Surveillance Global Market Report 2023 provides data on the global maritime surveillance market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The maritime surveillance market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.