What Has Been the Growth Trajectory of the Maritime Surveillance Market?
The maritime surveillance market has seen considerable growth due to a variety of factors.
•The market size of maritime surveillance has seen significant expansion over the past few years. There's an expected increase from $24.46 billion in 2024 to $26.22 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%.
This growth during the historic period is linked to factors such as heightened globalization, security risks, environmental issues, adoption by the commercial industry, and increased collaboration and cooperation.
What Does the Future Hold for the Maritime Surveillance Market?
The maritime surveillance market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for maritime surveillance is predicted to witness robust expansion in the upcoming years. It is projected to reach "$37.76 billion by 2029, with a compound annual growth rate (CAGR) of 9.5%.
The anticipated growth during the forecast period is mainly due to factors such as data consolidation and sharing of information, integration of the commercial sector, geopolitical shifts, concerns over the environment, and security issues. The significant trends during this forecast period encompass cooperation and information exchange, the adoption of the commercial sector, geopolitical instabilities, environmental conservation, security dilemmas, and escalating worldwide trade.
What Main Forces Are Fueling Expansion In The Maritime Surveillance Market?
The maritime surveillance market is projected to experience a surge in growth driven by the rise in maritime commerce activities. Maritime commerce, which entails trading of goods via the marine transportation system, is fueling maritime surveillance market expansion. This market encompasses all necessary processes involved in identifying, monitoring, and understanding marine domain activities and other areas impacting the maritime environment. For example, as per data from Eurostat, a government agency based in Luxembourg in July 2024, the gross weight of goods transported by sea in the European Union elevated to 893.97 million tonnes in Q2 2022 from 851.28 million tonnes in Q2 2021. Hence, the escalation in maritime commerce and freight transport activities is the driving force behind the maritime surveillance market's growth.
What Are The Primary Segments In The Global Maritime Surveillance Market?
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
Subsegments:
1) By Sensors: Optical Sensors, Infrared Sensors, Acoustic Sensors, Other Sensors
2) By Radar: Ground-Based Radar, Airborne Radar, Shipborne Radar
3) By Automatic Identification System (AIS) Receiver: Class A AIS Receiver, Class B AIS Receiver
4) By Software: Surveillance Software, Analytics Software, Integration Software
5) By Other Components: Communication Systems, Data Processing Units, Power Supply Systems
Pre-Book The Maritime Surveillance Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Key Trends Are Driving Changes In The Maritime Surveillance Market?
The primary trend gaining traction in the maritime surveillance market is product innovation. Most of the major companies in the maritime surveillance market are concentrating on creating innovative products to cement their dominance in the market. For example, in May 2023, the Finland-based Image Soft, a maritime technology firm, unveiled the third generation UNWAS system. This system is furnished with completely new digital circuitry and software. The third-generation UNWAS system identifies and alerts about both underwater and surface hazards using a distributed modular sensor network that includes passive hydrophones and other sensors. This system can effectively operate under intense acoustic underwater scenarios in a variety of challenging environments.
Who Are the Key Players in the Maritime Surveillance Market?
Major companies operating in the maritime surveillance market include:
• 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.
What Is The Most Dominant Region In The Maritime Surveillance Market?
Asia-Pacific was the largest region in the maritime surveillance market in 2024.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
