According to the new research report published by The Insight Partners, titled “Coastal Surveillance Radar - Global Analysis and Forecast to 2025”, the global coastal surveillance radar market is expected to reach US$ 1,237.9 million in 2025, registering a CAGR of 6.1% during the forecast period 2018-2025.
In 2017, Asia-Pacific accounted for the largest revenue share of more than one-third of the total market share, followed by Europe.
The growth in the Asia Pacific region is highly attributed to the increased investments in the security of coastal regions among the various countries such as India, China, Australia, Japan, and others.
The coastal surveillance radar is mainly used by the naval forces and coast guards with an objective 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 coastal surveillance radar market is dominated by X-band radars as these radars have much higher electromagnetic wavelength and detection capability of smaller targets even in sea clutter is much higher than other radars. However, the dual frequency radar i.e. combination of X-band and S-band radar is anticipated to be adopted the maximum in the coming years. The future market for the coastal surveillance radar is promising, as the major defense forces, as well as the defense forces in the emerging economies, are increasing their budgets year on year.
The global coastal surveillance radar market has been segmented by types as X-band, S-band, X-band and S-band, and Others. On the basis of the platform, the market for coastal surveillance radar market is also bifurcated as shipborne, land-based and airborne. Further, the market is broken down by the end-user into the port, harbor, and oil & gas industry, and maritime protection agencies.
Key findings of the study:
Asia-Pacific is anticipated to account the largest market share of coastal surveillance radar market and is expected to register a CAGR of 6.9%
Based on the platform, the airborne segment is expected to witness high year on year growth during the forecast period
Countries such as China, Japan, and ASEAN countries are witnessing high demand for coastal surveillance radar due to the increasing concern of coastal security.
Europe holds the second largest market share. The lengthy coastline of the European continent is one of the major driving potential factors for the deployments of the coastal surveillance radar systems. As a result of the longer coastline, the European continent has also been increasingly facing various threats to the security of the country. Threats such as illegal immigration from the terrorist states to the European region via the waterways has been on the rise. Also, illegal drug trafficking and smuggling coupled from various corners of the world and majorly from Latin America & the Caribbean Islands, as well as from some of the African nations have risen in the region over the years. On account of these factors, the need for coastal radar surveillance in most of the European countries is immense. Also, provisioning safety & security to the fish farmers, and employees working in the oil rigs in Europe demand for deployments of the coastal surveillance radar systems.
The developing countries such as South Africa, Mexico, and others are also expected to create a potential demand for coastal surveillance radar during the forecast period due to the increasing investments on security and advanced technologies for security. The key companies profiled in this report include Accipiter Radar Technologies Inc., Aselsan A.S., Blighter Surveillance Systems Ltd., East Radar Systems Limited, Elbit Systems Ltd., FLIR Systems, Inc., GEM Elettronica, Harris Corporation, Israel Aerospace Industries Ltd., Kelvin Hughes, Raytheon Company, Terma A/S, and THALES GROUP.
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