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Coastal Surveillance Radar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Band Type, Platform, and End User

Coastal Surveillance Radar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Band Type, Platform, and End User

  • December 2021
  • 175 pages
  • ID: 6232527
  • Format: PDF
  • The Insight Partners

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The coastal surveillance radar market was valued at US$ 964.61 million in 2021 and is projected to reach US$ 1,423.59 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028.

The coastal surveillance radar is mainly used by the naval forces and coast guards to secure the coastlines from various marine threats.Following the marine disputes, the demand for constant and efficient maritime surveillance is being emphasized by all countries.

The need for coastal surveillance radar is driven by several factors, such as rising marine conflicts including at-sea piracy and drug and people trafficking through waterways.While water bodies have remained vital for trade between countries, their security has been a source of concern over time.

As it is simpler for smugglers to operate through the waterways, there has been an increase in the number of anti-social actions carried out on the bodies of water. As a result, the coastal surveillance radar market is expected to grow as more of these systems are installed by coastal guards and naval organizations

Impact of COVID-19 Pandemic on Coastal Surveillance Radar Market
Due to the COVID-19 outbreak, many manufacturing units were shut or operating with a partial workforce, and the supply of components and raw materials was disrupted.These were some major challenges faced by radar manufacturers in North America.

However, defense manufacturers were allowed to continue their operations, and the governments also provided aid to defense contractors.For instance, in 2020 the Federal Aviation Administration awarded NDI Recognition Systems for second surveillance system after the successful delivery of first NDI Remote Surveillance System-Maritime to Department of Homeland Security / Customs and Border Protection.

Post experiencing a marginal drop in revenues, the coastal surveillance radar manufacturers started to witness stable demand from Q3 of 2020 which led the coastal surveillance radar market started to experience increasing growth trend.

The global coastal surveillance radar market has been segmented into five major regions, namely, North America, Europe, APAC, Middle East and Africa, and South America.In 2020, Europe accounted for the highest coastal surveillance radar market share in the global coastal surveillance radar market.

Europe has been facing an increasing threat of immigrants from terrorist states over the years. The biggest frontier of the continent, i.e., the sea, has seemed to be the most vulnerable front against these threats. As per the new statistics revealed by the defense authorities in the European region, unusual coastal stop-offs, smuggling, inexplicable voyages, and fake shipping logs have been on the rise across the Mediterranean and Atlantic coasts, with little or nothing being done to combat the trend. As per the latest statistics of the EU, the percentage of illegal immigrants to Europe has plummeted by 60% compared to 2017, owing to increased security at these countries’ borders and coastline borders. However, the countries are perceived to have fortified their land borders, although the security at the coastal routes remains a matter of concern for the European authorities. These factors have contributed to the growing adoption of coastal surveillance radar across the region, thereby contributing to the coastal surveillance radar market growth.

The key players operating in the global coastal surveillance radar market and profiled in the market study include Aselsan A.S., Terma A/S, Thales Group, Easat Radar Systems Limited, GEM electronica, Elbit Systems Ltd., Teledyne FLIR LLC, HENSOLDT, Israel Aerospace Industries Ltd., Raytheon Technologies Corporation.

The overall global coastal surveillance radar market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the coastal surveillance radar market.

The process also serves the purpose of obtaining an overview and forecast of the coastal surveillance radar market size with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic.

The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the coastal surveillance radar market.

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