Multi-Function Mobile Coastal Surveillance Radar System Market Growth Drivers, Trends, and Forecast by 2031

MARKET OVERVIEW

Multi-function mobile coastal surveillance radar systems deployed at present use a varying range of frequency bands, including X-band, S-band, and others. These systems are used in a wide range of applications, including ports, harbors, offshore oil and gas industries, along with maritime protection agencies and naval forces of various countries. Additionally, major technological advancements have created innovative and efficient systems for deployment by naval forces. Since these systems ensure safety of coastline from breaches by hostile neighbors, smuggling activities, illegal entry by immigrants or refugees, there is a huge demand from maritime protection agencies.

MARKET SCOPE

The "Global Multi-Function Mobile Coastal Surveillance Radar System Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Multi-Function Mobile Coastal Surveillance Radar System market with detailed market segmentation by type, platform, end user, and geography. The global Multi-Function Mobile Coastal Surveillance Radar System market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Multi-Function Mobile Coastal Surveillance Radar System market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on Type, the market can be segmented into X-Band, S-Band, Others.
  
•   On the basis of Platform, the market can be segmented into Ship-borne, Land-Based, Airborne.
  
•   On the basis of End User, the market is segmented into Ports, Harbor, Oil and Gas Industry, and Maritime Protection Agencies.
  

MARKET DYNAMICS

Drivers:

•   Increasing incidences of coastal and EEZ breaching.
  
•   Rising activities of commercial ships in ports and harbors
  
•   Increasing geo-political conflicts and requirement to strengthen the naval forces
  

Restraints:

•   High cost of research and development for developing countries
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Multi-Function Mobile Coastal Surveillance Radar System market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Multi-Function Mobile Coastal Surveillance Radar System market in these regions.

IMPACT OF COVID-19 ON MULTI-FUNCTION MOBILE COASTAL SURVEILLANCE RADAR SYSTEM MARKET

The outbreak of the COVID-19 has severely impacted defense-related industries. The disruption in the global supply chain created a significant shortage in supply for the production of naval vessels during the pandemic's peak in 2021. Various key market players started adopting stringent measures to reduce supply chain disruption. For instance, BAE Systems focused on minimizing the impact on their supply ecosystem by meeting their payment obligations and working together in close harmony with the suppliers. However, during 2021, the advent of geopolitical conflicts and the rising need to upgrade naval warfare systems to ensure coastal and maritime security have created sufficient demand for Multi-Function Mobile Coastal Surveillance Radar System. For instance, in the US, A September 2021 Congressional Budget Office (CBO) report estimated that the fleet envisaged on June 17, 2021, long-range Navy shipbuilding document would cost an average of $25.3 billion to $32.7 billion per year after FY2021. These figures are 10% to 43% higher than the $22.9 billion in FY2021 that Congress appropriated, on average, for the complete Navy shipbuilding activities over the past three years. Therefore, the plummeting global military Multi-Function Mobile Coastal Surveillance Radar System market faces a short-term impact due to COVID-19 and is regaining momentum by the end of 2021.

MARKET PLAYERS

The report covers key developments in the Multi-Function Mobile Coastal Surveillance Radar System market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership and collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Multi-Function Mobile Coastal Surveillance Radar System market are anticipated to lucrative growth opportunities in the future with the rising demand for Multi-Function Mobile Coastal Surveillance Radar System in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Multi-Function Mobile Coastal Surveillance Radar System market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   ASELSAN A..
  
•   Blighter Surveillance Systems Ltd
  
•   Easat Radar Systems Limited
  
•   GEM elettronica
  
•   HAVELSAN Inc.
  
•   HENSOLDT UK
  
•   Raytheon Technologies Corporation
  
•   TERMA
  
•   Thales Group
  
•   TOKYO KEIKI INC.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Multi-Function Mobile Coastal Surveillance Radar System Report Scope