Global Maritime Surveillance and Intervention Market Analysis 2024 – Estimated Market Size And Key Drivers|Indra Sistemas S.A., Saab Aktiebolag, Raytheon Technologies Corporation, Elbit Systems Limited, Furuno Electric Company Limited

The Maritime Surveillance and Intervention Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Maritime Surveillance and Intervention Global Market Report 2024, The maritime surveillance and intervention market size has grown rapidly in recent years. It will grow from $26.18 billion in 2023 to $29.06 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to maritime security concerns, illegal activities and piracy, national defense initiatives, search and rescue operations, environmental monitoring..

The maritime surveillance and intervention market size is expected to see rapid growth in the next few years. It will grow to $43.29 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to geopolitical tensions, emerging threats, humanitarian assistance, technological innovations adoption, international collaborations.. Major trends in the forecast period include adoption of blockchain for maritime data security, development of autonomous underwater vehicles, focus on counter-drone technologies for maritime security, introduction of high-frequency radar systems, collaboration and information sharing among maritime nations.

The rising trade and freight activities by sea are expected to propel maritime surveillance and intervention market growth going forward. Maritime trade refers to the use of ships to move commodities by sea. The lower emissions on long voyages and transportation costs assist producers in adopting sea route for long haul feet. Sea transport is more cost-effective and environmentally friendly than other methods of transporting commodities long distances as it hails many products handled in a single journey. Due to such benefits of sea-borne trade, there is an increase in the demand for maritime surveillance and intervention to ensure an adequate response to any emergent maritime safety or security scenario. For instance, according to Maritime Transport 2021 report prepared by United Nations Conference on Trade and Development (UNCTAD), the global commercial shipping fleet, which includes bulk carriers, oil tankers, container ships, general cargo ships, and other types of ships, has reached 2, 134, 640 (thousand dead-weight tons) in 2021, an increased by 3.04% from 2, 071, 638 in 2020. Therefore, rising trade and freight activities by sea will drive the maritime surveillance and intervention market.

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The maritime surveillance and intervention market market covered in this report is segmented –

1) By System: Detectors, Combat Management System, Surveillance and Tracking, Geographic Information System (GIS)
2) By Services: Risk Assessment and Investigation, Maintenance and Support, Security Management
3) By Application: Naval, Coast Guard, Other Applications

Advancement in technology is a key trend gaining popularity in the maritime surveillance and intervention market. Major players operating in maritime surveillance and intervention are focused on developing technologically advanced solutions such as enabling artificial intelligence, big data analytics, IoT, digital route management, surveillance satellite, and autonomous control system to strengthen their market position. For instance, in July 2021, Elecnor Deimos, a Spain-based aerospace and defense company, launched a Neptune CubeSat, a maritime surveillance satellite. This Elecnor Deimos satellite is entirely dedicated to marine surveillance that uses cutting-edge technologies such as 3D printing, the usage of new materials such as ULTEM®, artificial intelligence, and intelligent sensorisation. It has advanced information technology capable of assessing millions of data collected by ground stations using artificial intelligence technology.

The maritime surveillance and intervention market report table of contents includes:

1. Executive Summary
2.Maritime Surveillance and Intervention Market Characteristics
3. Maritime Surveillance and InterventionMarket Trends And Strategies
4.Maritime Surveillance and Intervention Macro Economic Scenario
5.Maritime Surveillance and Intervention Market Size And Growth
6. Maritime Surveillance and InterventionSegmentation
7.Maritime Surveillance and Intervention Regional And Country Analysis
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27.Maritime Surveillance and InterventionCompetitive Landscape And Company Profiles
28.Maritime Surveillance and Intervention Key Mergers And Acquisitions
29.Maritime Surveillance and Intervention Future Outlook and Potential Analysis

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