Maritime Surveillance Market Size (2024 - 2029)

The maritime surveillance market is projected to experience significant growth over the forecast period, driven by the increasing demand for advanced surveillance systems to combat rising oceanic criminal activities. The easing of pandemic-related restrictions has facilitated the resumption of production and trade, allowing manufacturers to meet the growing procurement needs. As global sea trade expands, the need for enhanced surveillance and intervention solutions becomes more critical, contributing to the market's steady expansion.

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Market Size of Maritime Surveillance Industry

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Maritime Surveillance Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 9.50 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Maritime Surveillance Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Maritime Surveillance Market Analysis

The Maritime Surveillance Market is anticipated to grow at a CAGR of 9.5% during the forecast period.

The COVID-19 pandemic has had a negative effect on the maritime surveillance market. The pandemic led to various governments around the world imposing stringent regulations and banning the import and export of raw materials, which led to a sudden downfall regarding the valuable parts needed for the manufacturing of maritime surveillance systems. Additionally, manufacturers in various nations were forced to shut down their businesses wholly or partially due to the global lockdown. Furthermore, the pandemic also led to delays in terms of activities as well as initiatives concerning the development of advanced maritime surveillance systems. The decline in the COVID-19 pandemic led various governments worldwide to ease up on the stringent regulations which were in place and open up the borders, which led to a free flow of trade and availability of raw materials, parts, and components for manufacturers to resume production and meet the increasing maritime surveillance procurement demand. Thus, this will lead to the market growing steadily in the years to come.

The maritime traffic worldwide is expected to grow due to global sea trade. The growth in seaway transportation has led to expansion in the presence of various trader vessels at sea, which has increased the number of oceanic criminal activities in recent years. These challenges have prompted nations worldwide to develop and upgrade their surveillance and intervention solutions to prevent criminal activities. This will lead to the market witnessing growth in the long run.

Maritime Surveillance Industry Segmentation

Maritime surveillance involves the collection, analysis, data fusion, and sharing of data. The information is captured through a wide variety of sensors and sensor combinations operating in various segments of the spectrum (electronic signals, imagery, communications, and acoustics, amongst others.

The report has been segmented by application, component, type, and geography. By application, the market is segmented into naval, coastguard, and others. The market is segmented by components: radar, sensor, transponder, and others. By type, the market is segmented into surveillance and tracking, detector, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also covers market sizes and forecasts of different geographical regions. Moreover, the report offers a market forecast represented by USD million. Furthermore, the report includes various key statistics on the market status of leading market players and provides key trends and opportunities in maritime surveillance.

By Application
Naval
Coastguard
Other Applications
By Component
Radar
Sensor
Transponder
Other Components
By Type
Surveillance and tracking
Detectors
Other Types
By Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Maritime Surveillance Market Size Summary

The maritime surveillance market is poised for substantial growth, driven by the increasing need for enhanced security measures in response to rising maritime threats such as piracy and unlicensed fishing. The market experienced setbacks due to the COVID-19 pandemic, which disrupted supply chains and halted production activities. However, as global trade resumed and regulations eased, the demand for advanced maritime surveillance systems began to rise. This demand is further fueled by the expansion of maritime traffic and the need for nations to upgrade their surveillance and intervention solutions to combat oceanic criminal activities. The surveillance and tracking segment, in particular, is expected to see significant growth, supported by the development of advanced tracking software and technologies that enhance the protection of vessels, ports, and shipping infrastructure.

The Asia-Pacific region is anticipated to witness notable growth in the maritime surveillance market, driven by countries like China and Japan, which are investing heavily in enhancing their maritime capabilities. China's "Spratly Backbone Fleet" program and Japan's plans to upgrade intelligence, surveillance, tracking, and reconnaissance assets are key developments contributing to this growth. Additionally, the market is characterized by the presence of prominent players such as SRT Marine Systems PLC, Kongsberg Gruppen, and Thales Group, who are focusing on expanding their product portfolios and investing in research and development. Strategic acquisitions and the introduction of new maritime surveillance products are expected to further strengthen their market position during the forecast period.

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Maritime Surveillance Market Size - Table of Contents

  1. 1. Market Dynamics

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. Market Segmentation

    1. 2.1 By Application

      1. 2.1.1 Naval

      2. 2.1.2 Coastguard

      3. 2.1.3 Other Applications

    2. 2.2 By Component

      1. 2.2.1 Radar

      2. 2.2.2 Sensor

      3. 2.2.3 Transponder

      4. 2.2.4 Other Components

    3. 2.3 By Type

      1. 2.3.1 Surveillance and tracking

      2. 2.3.2 Detectors

      3. 2.3.3 Other Types

    4. 2.4 By Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 India

        3. 2.4.3.3 Japan

        4. 2.4.3.4 Australia

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Latin America

        1. 2.4.4.1 Mexico

        2. 2.4.4.2 Brazil

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 United Arab Emirates

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 South Africa

        4. 2.4.5.4 Rest of Middle East and Africa

Maritime Surveillance Market Size FAQs

The Maritime Surveillance Market is projected to register a CAGR of 9.5% during the forecast period (2024-2029)

SRT Marine Systems PLC, Kongsberg Gruppen, Bharat Electronics, Raytheon Anschutz Gmbh and Thales Group are the major companies operating in the Maritime Surveillance Market.

Maritime Surveillance Report Snapshots

Maritime Surveillance Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)