Authored By: Sarah
11 Jul 2024

 Maritime Surveillance Market Size to grow by USD 1.48 billion between 2023-2027

According to a research report “ Maritime Surveillance Market” by Component (Sensors, Radar, AIS receiver, Software and others) End-user (Defense, Customs, Fisheries, Intelligence, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 1.48 billion, at a CAGR of  3.65% during the forecast period. The maritime surveillance market is experiencing significant growth due to the increasing importance of safeguarding coastal security and maintaining territorial integrity for numerous nations. With marine borders playing a pivotal role in national security, global trade, immigration, and emigration, the need for advanced airborne platforms to patrol territorial waters has become increasingly imperative. Maritime surveillance systems, which are highly effective in identifying and addressing potential threats, are essential for ensuring the security of valuable assets such as oil rigs in areas prone to piracy, like the Gulf of Guinea in Western Africa. These systems enable early detection and response to security breaches, thereby enhancing overall safety and stability.

Browse market data tables, figures, and in-depth TOC on “Maritime Surveillance Market” by Component (Sensors, Radar, AIS receiver, Software and others) End-user (Defense, Customs, Fisheries, Intelligence, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2027. Download Free Sample

 

By Component, the Sensors segment is projected to dominate the market size in 2024

The maritime surveillance market is experiencing significant growth due to continuous technological innovations, particularly in the defense sector. Advanced marine information solutions, such as Automatic Identification Systems (AIS), are increasingly being adopted for their high accuracy and multiple functions, including vessel identification, tracking, and surveillance. These solutions enhance vessel safety and security. While current offerings cater to basic requirements, the market is witnessing a growing demand for complex solutions and advanced security products, presenting lucrative opportunities for vendors.

By End-user, Defense  segment is expected to hold the largest market size for the year 2024

In the maritime industry, sensors play a pivotal role in various applications such as position measurement for hydraulic cylinders, monitoring the condition of vessel machinery, load measurement for cranes and deck lifting equipment, and pressure measurement of tanks. These sensors offer several advantages, including nearly lossless data transmission, enhanced sensitivity during data capture, and continuous, real-time analysis. Maritime operators leverage sensor data from maritime vehicles, enabling automatic data updates to a command center for swift, real-time understanding. This integration of data with structured analyses results in enhanced decision-making capabilities, empowering ship operators to make faster tactical decisions while incorporating environmental conditions into their operational strategies.

North America is forecasted to hold the largest market size by region in 2024

The North American maritime surveillance market is projected to expand significantly over the forecast period, driven by heightened security concerns following the increasing threat of terrorist attacks in the region, particularly in the United States. Maritime surveillance technologies play a crucial role in enhancing safety and security through continuous monitoring and visualization. Post the September 11, 2001, attacks, the US Coast Guard, a key security agency, recognized the significance of Automatic Identification System (AIS) and Long Range Identification and Tracking (LRIT) devices. This recognition led to a substantial increase in the adoption of advanced maritime surveillance systems by US ports to strengthen their security measures.

The Maritime Surveillance Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Airbus SE
  • BAE Systems Plc
  • Elbit Systems Ltd.
  • Furuno Electric Co. Ltd.
  • HENSOLDT AG
  • Honeywell International Inc.
  • Kongsberg Gruppen ASA
  • L3Harris Technologies Inc.
  • Lockheed Martin Corp.
  • MIND TECHNOLOGY INC.
  • Northrop Grumman Systems Corp.
  • Raytheon Technologies Corp.
  • Saab AB
  • Safran SA
  • Sonardyne International Ltd.
  • SRT Marine Systems Plc
  • Teledyne Technologies Inc.
  • Terma AS
  • Thales Group
  • The Boeing Co.
.

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Research Analysis Overview

The Maritime Surveillance Market is witnessing significant growth due to the increasing number of criminal activities at sea, including piracy, maritime terrorism, sabotage, and attacks on vessels. These unlawful acts pose a threat to international trade, people, and maritime safety. Businesses and governments are investing heavily in coastal surveillance technologies to mitigate these threats. The sea is a vast and unregulated environment, making it an attractive target for pirates and terrorists. Maritime piracy, a major concern, results in billions of dollars in economic losses each year. Maritime terrorism, though less frequent, can have catastrophic consequences. Data collection is a crucial aspect of maritime surveillance. Advanced technologies such as satellite imagery, Automatic Identification System (AIS), and radar systems are used to gather data on ships and their movements. This data is analyzed to detect and prevent potential threats. Ports are also a priority for surveillance due to their economic significance and vulnerability to attacks. Maritime safety agencies use various technologies such as CCTV cameras, drones, and sonar systems to monitor ports and prevent unlawful activities. In conclusion, the Maritime Surveillance Market is essential for ensuring maritime safety, protecting international trade, and safeguarding people. The market is expected to grow as the need for effective surveillance increases in the face of rising maritime threats.

Market Research Overview

The Maritime Surveillance Market is witnessing significant growth due to the increasing need for ensuring security and safety in global sea trade. Navy and coastguard agencies, as well as businesses, are investing in advanced sensors and multi-purpose vessels (MPV) for real-time monitoring of the sea. Sensors such as sonar, radar, and imagery data are used for underwater detection, criminal activity tracking, and animal life protection. The law enforcement process involves the use of tracking software, live video streaming, and communications for effective information sharing among maritime authorities. Combat management systems from companies like Elbit Systems Sweden help in situational awareness and detection of incidents. Maritime safety standards require effective maritime rescue coordination and incident management. Digitalization, automation, IoT, blockchain, AI, and digital technologies are being adopted for marine management software, supply chain management, and smarter ships. However, challenges such as piracy, maritime terrorism, labor shortages, equipment shortages, and port closures pose obstacles to maritime transport. Real-time onshore surveillance and detection techniques, including satellite and radio communication systems, are essential for addressing these threats. The maritime industry is also concerned with environmental impact, fleet management, and shipping logistics. Passengers on cruise ships, commercial fishing, and international trade are all affected by maritime threats, requiring continuous surveillance and effective communication. In conclusion, the Maritime Surveillance Market is a critical component of global sea trade, ensuring safety, security, and efficiency. The use of advanced technologies and effective communication systems is essential for addressing maritime threats and ensuring the smooth flow of information and trade.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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