ID: MRFR/A&D/8849-HCR | February 2021 | Region: Global | 176 pages
Global Coastal Surveillance Market is projected to reach USD 39.73 Billion by 2026 and register a CAGR of 3.2% between 2020 and 2026. Coastal surveillance systems and solutions are used to increase situational awareness at national coasts. This is due to the increasing number of illegal trespassing, immigration, and smuggling through the sea from the last few years. Moreover, the development of advanced coastal surveillance systems for large-scale surveillance has also been increasing, which is driving market growth.
Global Coastal Surveillance Market has witnessed high growth in recent years owing to the advancements in coastal surveillance systems, increasing defense expenditure, and the rising number of illegal coastal activities. However, the high costs of installation and operation are expected to restrain the market growth.
The increasing need for situational awareness on the coast.
Other Prominent Players
Frequently Asked Questions (FAQ) :
A USD 39.73 Billion by 2026 is assessed to open up the market's potential in the forecast period.
A 3.2% CAGR is estimated to augment the market share in the forecast period.
The soaring need to establish situational awareness at national coasts will dominate the market's development objectives in the forecast period.
Kongsberg Gruppen (Norway), Saab AB (Sweden), Indra Sistemas, SA (Spain), Northrop Grumman Corporation (US), and Elbit Systems Ltd (Israel) are motivating the market.
The North American regional market is assessed to stimulate the global market.