Strategic Initiatives by Major Coastal Surveillance Radar Market Players to Provide Opportunities for Coastal Surveillance Radar Market Growth during 2021–2028
According to our latest market study on “Coastal Surveillance Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Band Type, Application, and End User,” the market is expected to grow from US$ 964.61 million in 2021 to US$ 1,423.59 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028.
The global coastline stretches to around 315,000 miles and the security of coastline depends on respective country’s naval force and coast guard authority. To safeguard the coastlines, respective naval forces, coast guard authorities, and other defense or homeland security agencies procure a large number of coastal surveillance radars. These radars facilitate the teams with detection and interception of potential threats or targets, such as fast moving boats, canoeists, large ships, as well as torpedoes, and other unmanned threats, thereby enhancing the safety of the coastal areas. Also, regionally, factors such as continuously rising defense spending by the US government, followed by ongoing border dispute in Asia, the rising illegal migration crisis in Europe, high volatile border situation in the Middle East and Africa, and high emphasis on curtailing drug tracking in South America are fuel the global coastal surveillance radar market growth.
A few key developments in the coastal surveillance radar market to be mentioned are:
- In December 2021, Blighter Surveillance Systems Ltd. received a contract to provide four C400 series e-scanning radars at offshore oil platforms and onshore refineries in West Africa. The installation of such radar systems across the oil refineries will ensure enhanced security of the same from any threat.
- In March 2021, HENSOLDT announced a collaboration with South Africa's Council for Scientific and Industrial Research to develop the next generation of tactical 3D surveillance radar systems. These systems are expected to ensure better efficiency in the real-time monitoring of coastal borders.
Impact of COVID-19 Pandemic on the Coastal Surveillance Radar Market Growth
The coastal surveillance radar market growth was unaffected in 2020 from the demand side. However, there was a marginal delay in lead time. Moreover, despite the increase in the number of COVID-19 patients in APAC, governments have eased containment norms and allowed manufacturing facilities to operate in 2021. For instance, though the massive second wave in India in Q2 of 2021, the development and deployment of coastal surveillance radars (SCANTER 2001) in India by Bharat Electronics Limited in partnership with Terma A/S which was initiated in November 2020 remained unaffected. Similarly, despite the growing number of COVID-19 cases in China, development and deployment of coastal surveillance radar by the coastal surveillance radar market players was unaffected in 2021. Moreover, in May 2021, South Korean government awarded a US$ 145.4 million contract to LIG Nex1 for the development of Maritime Surveillance Radar-II. Thus, the COVID-19 pandemic marginally impacted the coastal surveillance radar market size in 2020 from supply side, but the market was stabilized and started witnessing growth from Q3 of 2020.
Accipiter Radar Technologies Inc., Aselsan AS, Blighter Surveillance Systems Ltd, Easat Radar Systems Ltd., Elbit Systems Ltd., Teledyne Flir LLC, GEM Electronica, Hensoldt, Israel Aerospace Industries, L3Harris Technologies Inc., Raytheon Technologies Corp., Terma A/S, and Thales Group are among the key players in the coastal surveillance radar market. In addition, several other important coastal surveillance radar market players were studied and analyzed during this market research study to get a holistic view of the global coastal surveillance radar market and its ecosystem.
Coastal Surveillance Radar Market Share— by Geography, 2020
Coastal Surveillance Radar Market Share, Size, Growth by 2028
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