Maritime Surveillance and Intervention Market will exhibit a CAGR of 9.86% during the forecast period, and reach USD 18.80 billion in 2019, and the Market value as per 2019 was USD 18.80 billion.
Fortune Business Insights™ in a new report, titled, “Maritime Surveillance and Intervention Market Size, Share & COVID-19 Impact Analysis, By System (Detectors, Combat Management Systems, Surveillance and Tracking, Geographic Information System (GIS), and Others), By Services (Risk Assessment and Investigation, Maintenance and Support, Security Management, and Others), By Application (Port and Critical Infrastructure Facility, Vessel Security, Coastal Surveillance, and Search and Rescue), and Regional Forecast, 2020-2027.”
Maritime Surveillance and Intervention Market Drivers and Restraint:
Growing Focus on Strengthening Maritime Safety and Security to Fuel Demand for MSI Solution
The maritime traffic is ceaseless on the ascent, with growing ocean trade across the world. Maritime trade is the most established and highly preferred form of cargo import and export as it can carry heavyweight goods. The rising seaway transportation has expanded the presence of various trader vessels in the sea, which has simultaneously increased the rate of ocean crimes around the world. This has prompted the adoption of surveillance and intervention solutions to prevent ocean criminal activities such as piracy, illegal immigration, smuggling, and others. Besides, developing international pressure and terrorist activities have fortified the selection of MSI to reinforce the country's oceanic well-being and security. These are the development factors liable to fueled the growth of the market of MSI.
Development of Upgraded MSI Aircraft to Deliver Optimized Surveillance and Intervention Facilities to Aid Growth
The trend-setting innovation-based frameworks, such as satellite radar, thermal imaging, automatic identification system, underwater robotic system, and long-range identification and tracking device, are utilized for improving the capacities of sea reconnaissance and security activity. In this way, the interest in groundbreaking MSI aircraft is expanding, which has coordinated the reconnaissance frameworks. These airplanes are uncommonly intended to screen sea development. If the sensor framework would recognize any unlawful movement, it will get straightforwardly sent to the oceanic law implementation group to deal with the circumstance further. For instance, the sea surveillance airplane fabricated by Saab AB is utilized for a variety of operations, such as safeguarding, illicit control immigration, search and rescue operation, coastline surveillance, and economic zone monitoring. Additionally, the Dassault Aviation SA has agreed to plan another age MSI airplane for the French protection activity.
List of Key Players Covered in the Maritime Surveillance and Intervention Market Report:
- Yaltes (Turkey)
- Indra Sistemas, S.A. (Spain)
- Raytheon Technologies Corporation (The 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 Marine Systems plc (The U.K.)
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Some of the key industry developments in the Maritime Surveillance and Intervention Market Include:
- February 2020 – Bengaluru-based Bharat Electronics Limited added five commands and control (CC) centers and 38 radar stations along the coastline for the Indian coast guard to enhance maritime security.
- November 2019 – Indra Sistemas S.A., headquartered in Spain, announced the successful testing of its European Maritime Operations Center prototype. The main aim of designing this prototype is to enhance maritime situational awareness and surveillance capabilities. This advanced command and control systems solution is designed with Leonardo. The testing of this prototype has been carried out in naval exercise in the presence of the participating Navies such as France, Portugal, Greece, Italy, and Spain.
