Coastal Surveillance Radar Market Size Worth $1.42Bn, Globally, by 2028 at 5.7% CAGR - Exclusive Study by The Insight Partners

The coastal surveillance radar market was valued at US$ 964.61 million in 2021 and is projected to reach US$ 1.42 Billion by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028.

New York, June 08, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Coastal Surveillance Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Band Type (X-Band, S-Band, X and S-Band, and Others), Platform (Ship Borne, Land Based, and Airborne), End User (Ports Harbor Oil & Gas Companies and Maritime Patrol Agencies), and Geography,” the global coastal surveillance radar market growth is driven by integration of emerging technologies like 3D imaging and sensor technology is enhancing the efficiency of the coastal surveillance radar systems.

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Market Size Value in US$ 964.61 Million in 2021
Market Size Value by US$ 1.42 Billion by 2028
Growth rate CAGR of 5.7% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 175
No. Tables 85
No. of Charts & Figures 81
Historical data available Yes
Segments covered Band Type, Platform, and End User
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Coastal Surveillance Radar Market: Competitive Landscape and Key Developments:
Accipiter Radar Technologies Inc., Aselsan AS, Blighter Surveillance Systems Ltd, Easat Radar Systems Ltd., Elbit Systems Ltd., Teledyne Flir LLC, GEM Electronica, Hensoldt, Israel Aerospace Industries, L3Harris Technologies Inc., Raytheon Technologies Corp., Terma A/S, and Thales Group are among the key players that are profiled during the coastal surveillance radar market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.

In 2021, Silent Sentinel was awarded a contract to supply Osiris Searcher, a coastal surveillance system to the Mexican government.

In 2020, Leonardo was awarded a contract by UK Maritime and Coastguard Agency to supply Osprey 30 radar for support missions, such as search and rescue, fishery, and pollution patrols.

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Impact of COVID-19 Pandemic on Coastal Surveillance Radar Market:
Despite the economic downfall faced by economies in Europe, allocation of funds for defense budgets was on the higher side in 2020 across the region, which subsequently did not affect the coastal surveillance radar market from the demand side. The emergence of COVID-19 outbreak marginally impacted the market growth from supply side as a few manufacturers had to operate with a partial workforce. For instance, the production facilities of Terma A/S in Lystrup and Grenaa had COVID-19 cases that affected production, which caused in offset in radar division of the company. Also, Thalas Group’s Defense and Security division that offers radars experienced operational disruptions due to the COVID-19 pandemic. However, the several coastal surveillance radar market players acquired contracts for their solutions, which propelled the coastal surveillance radar market share in Europe in 2020.

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Rising Adoption of Coastal Surveillance Radar System Across Emerging Economies to Boost Coastal Surveillance Radar Market Growth during Forecast Period:
The rise in threat across the coastal boundaries has significantly influenced the coastal surveillance radars market growth across the economies, such as India, China, South Korea, Egypt, and Mexico. For instance, India had laid down plans to install coastal surveillance radar systems in the country to counter China's growing influence and presence in the Indian Ocean Region (IOR) as a part of its military diplomacy strategy, resulting in greater security measures in these friendly countries. Similarly, other economies, such as Egypt and Mexico, have also increased their procurement of surveillance radars across coastal borders to increase safety. For instance, Silent Sentinel was awarded a contract for coastal monitoring at a Mexican naval facility in September 2021. Additionally, the Egyptian government has entered a contract with ATSC (Advanced Technology Systems Company) to offer a full border surveillance system across the coastal boundaries of the country in December 2021. Thus, the rise in the adoption rate of coastal surveillance systems across emerging economies is driving the growth of the coastal surveillance radar market.  

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According to the data published by the Stockholm International Peace Research Institute (SIPRI) in 2020, the global expenditure across the military & defense sector has experienced a rise of 2.6% from 2019, with the US, China, India, Saudi Arabia, and Russia being the countries with the highest investment in 2020. Thus, the rise in military expenditure across the globe is catalyzing the adoption of technologically advanced coastal surveillance radar systems to ensure efficient security across all coastal borders. For instance, The Republic of Korea Navy received a new coastal surveillance system from LIG Nex1 and South Korea's Defense Acquisition Program Administration (DAPA) in November 2019. Similarly, in 2021, the Federal Aviation Administration awarded National Defense Industries a second contract to deliver coastal surveillance radar systems, following the successful delivery of the first NDI California Coastal Surveillance, Remote Surveillance System-Maritime (RSS-M) to the Department of Homeland Security/Customs and Border Protection. Such initiatives by the governments and defense administrators year-on-year are driving the growth of the coastal surveillance radar market.

Coastal Surveillance Radar Market: Band Type Overview:
Based on band type, the coastal surveillance radar market is segmented into X-band, S-band, X and S-band, and others. Coastal surveillance radars play a crucial role in safeguarding the coastline and marine vessels from potential threats by detecting them, intercepting the threats, and then defeating them. Many radars deployed at present represent the deployment of X-band radars. From territorial water surveillance to exclusive economic zone (EEZ), the radar is a mainstay for non-cooperative threat tracking and detection. The wavelength of X-band radar ranges up to 10 GHz, which makes the radar to be High Range Resolution (HRR) and accurate. Thus, the benefits offered by X-band radars and the presence of a large number of coastal surveillance radar market players are contributing to the growth of the coastal surveillance radar market.

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Browse Adjoining Reports:
Surveillance Radar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Long Range Surveillance Radar, Medium Range Surveillance Radar, Short Range Surveillance Radar); Platform Type (Maritime Surveillance Radar, Land-Based Surveillance Radar, Airborne Surveillance Radar); Application (Military, Aerospace, Maritime, Home Security, Others) and Geography

Surveillance Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Types (Hardware, Software, Services, Others); Application (Commercial, Residential, Government) and Geography

Secondary Surveillance Radar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Simple Pulse Radar, Moving-Target Indication Radar, Airborne Surveillance Radar, 3-D Radar); Application (Civil Airports, Military Airports) and Geography

Airport Surveillance Radar Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product Type (Primary Radar, Secondary Radar); Application (Civil Airports, Military Airports) and Geography

Naval Radar Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Surveillance Radar, Fire Control Radar, Navigation Radar); Component (Antenna, Transmitter, Receiver) and Geography

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