The global Maritime surveillance and intervention market size was valued at USD 19.94 billion in 2022. The market is projected to grow from USD 22.18 billion in 2023 to USD 35.87 billion by 2030, registering a CAGR of 7.1% during the forecast period.
Maritime surveillance and intervention systems play a crucial role in enhancing maritime security by optimizing operations and conducting reconnaissance activities. Kongsberg Gruppen ASA, a leading company in this field, has developed advanced autonomous underwater vehicles (AUVs) such as Hugin and its upgraded version, Hugin Superior. Fortune Business Insights presents this information in their report titled "Global Maritime Surveillance and Intervention Market, 2023–2030."
List of Key Players Profiled in the Market Report:
Indra Sistemas, S.A. (Spain)
Raytheon Technologies Corporation (U.S.)
Saab AB (Sweden)
Elbit Systems Ltd. (Israel)
Furuno Electric Co., Ltd. (Japan)
Bharat Electronics Limited (Bengaluru)
Dassault Aviation SA (France)
Naval Group (France)
Kongsberg Gruppen ASA (Norway)
SRT Maritime Systems plc (U.K.)
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/maritime-surveillance-and-intervention-market-103458
COVID-19 Impact:
COVID-19 Enhanced Coastline Security with Maritime Surveillance UAVs
The maritime industry experienced a significant impact from the outbreak of the coronavirus. To effectively monitor the coastline during this period, coastguards turned to unmanned aerial vehicles (UAVs) for remote maritime surveillance operations. These UAVs played a crucial role in detecting any violations of lockdown regulations. As a result, there was a notable increase in the demand for maritime surveillance UAVs. COVID-19 Impact:
Segments:
Dominant Product Segment to Experience Rapid Expansion with Advanced Surveillance Systems
By component, the market is divided into software and product.
Due to the increasing number of advanced surveillance systems being introduced through product launches, the product segment is projected to exhibit significant growth.
Rise in Cross-Border Tensions Fuels Dominance of Surveillance and Tracking Segment
By application, the market is divided into surveillance and tracking, navigation, Maritime traffic management, search and rescue, and others. Driven by escalating cross-border tensions, the surveillance and tracking segment is expected to assert its dominance in the industry. This can be attributed to the growing demand for security systems as a means to enhance overall safety and protection.
Boost in Military Segment Growth Driven by Naval Fleet Expansion and Enhanced Security Solutions
By end user, the market is segmented into civil, commercial, and military.
The growth of the military segment is expected to be fueled by factors such as the expansion of naval fleets, increased investments in security solutions, advancements in risk assessment and investigation capabilities, and other related factors.
Geographically, the market is studied across North America, Europe, Asia Pacific, Rest of the World.
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Report Coverage:
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Addressing Maritime Security Challenges through MSI Solutions
The global maritime industry is witnessing increased traffic due to the growing ocean trade. This rise in seaway transportation has led to a surge in ocean crimes, prompting the growth and adoption of Maritime surveillance and intervention market share and solutions. Additionally, international pressure and the threat of terrorist activities have further emphasized the need for maritime security.
Challenges in developing advanced surveillance solutions for stealth vessels, including high initial costs and the risk of cyber-attacks, hinder Maritime surveillance and intervention market growth.
Competitive Landscape
Key Players' Growth Driven by Strategic Collaboration and Product Innovation
The market is fragmented, with companies such as Saab AB, Raytheon Technologies Corporation, and Dassault Aviation SA. These focus on acquisitions, product development, and technological collaborations to expand their product portfolio and maintain competitiveness.
Key Industry Development:
October 2021 – The European Maritime Safety Agency (EMSA) has awarded French space agency subsidiary CLS and European drone manufacturer TEKEVER new contracts for remote surveillance of European waters. This innovative contract includes the use of lifeboats and many new sensors.