Maritime Situational Awareness Systems Market Size (2024 - 2029)

Maritime Situational Awareness Systems Market Analysis

The Maritime Situational Awareness Systems Market size is estimated at USD 2.24 billion in 2024, and is expected to reach USD 2.79 billion by 2029, growing at a CAGR of 4.51% during the forecast period (2024-2029).

The growth in maritime boundary violations, smuggling and trafficking, terrorism, and rising tensions between countries over territorial waters, etc., is forcing governments to enhance their maritime situational awareness capabilities, thereby propelling the growth of the market studied.

Countries around the world are heavily investing in the development, expansion, modernization, and gradation of their existing naval fleet. The development and procurement of new naval vessels, such as frigates, submarines, etc., are expected to generate demand for newer generation sea-based situational awareness systems for surveillance and threat detection purposes. The naval fleets of countries such as the United States, the United Kingdom, China, India, and Japan have been witnessing significant growth over the past few years as they are strengthening their military capacities and global reach. The increasing miniaturization and improving accuracy of these systems have been propelling their different maritime platforms. Their high reliability and availability at low costs have encouraged militaries to procure these systems in abundance.

Maritime Situational Awareness Systems Industry Segmentation

Maritime situational awareness systems are the machinery used in the naval defense forces. As maritime border conflicts become more frequent, maritime situational awareness systems are used to reduce the risk of incidents. Manufacturers of maritime focus on research and development (R&D) and the integration of new technologies in the maritime sector.

The maritime situational awareness systems market is segmented based on component, type, and geography. The market is segmented by components into sensors, displays and notification systems, and other components (auxiliary systems and command and control systems). Based on type, the market is segmented into command and control, radars, sonar, and optronics. The report also covers the market sizes and forecasts for the maritime situational awareness market in major countries across different regions, such as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The report offers the market size in value terms in USD for all the abovementioned segments.