Coastal Surveillance Radar Market is expected to advance at a CAGR of 5.7% to arrive at US$ 1,423.59 Mn by 2028

The "Coastal Surveillance Radar Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis.

NEW YORK, UNITED STATES, November 11, 2022 /EINPresswire.com/ -- Latest research report study on “Coastal Surveillance Radar Market Forecast to 2028,” the market is expected to grow from US$ 964.61 million in 2021 to US$ 1,423.59 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028.

Strategic Initiatives by Major Coastal Surveillance Radar Market Players to Provide Opportunities for Coastal Surveillance Radar Market Growth during 2021–2028. The integration of emerging technologies like 3D imaging and sensor technology is enhancing the efficiency of the coastal surveillance radar systems, thereby influencing the growth of the coastal surveillance radar market size. The sensor technology integration with the surveillance radar systems enables detection of any abnormal activities across the coastal in real-time and alerts the security personnel to act accordingly. Similarly, the 3D imaging technology integration with radar systems provides a clear picture of short-range air targets such as aircraft and UAVs.

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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 in the coastal surveillance radar market. In addition, several other important coastal surveillance radar market players were studied and analyzed during this market research study to get a holistic view of the global coastal surveillance radar market and its ecosystem.

The coastal surveillance radar market is segmented on the basis of band type, platform, end user and geography. Based on band type, the coastal surveillance radar market is segmented into X-band, S-band, X and S-band, and others. Based on platform, the coastal surveillance radar market is segmented into shipborne, land-based, and airborne. The end user segment in the coastal surveillance radar market include ports harbor and oil & gas companies, and maritime patrol agencies. Geographically, the coastal surveillance radar market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America.

Impact of COVID-19 Pandemic on the Coastal Surveillance Radar Market Growth
The coastal surveillance radar market growth was unaffected in 2020 from the demand side. However, there was a marginal delay in lead time. Moreover, despite the increase in the number of COVID-19 patients in APAC, governments have eased containment norms and allowed manufacturing facilities to operate in 2021.

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The global coastline stretches to around 315,000 miles and the security of coastline depends on respective country’s naval force and coast guard authority. To safeguard the coastlines, respective naval forces, coast guard authorities, and other defense or homeland security agencies procure a large number of coastal surveillance radars. These radars facilitate the teams with detection and interception of potential threats or targets, such as fast moving boats, canoeists, large ships, as well as torpedoes, and other unmanned threats, thereby enhancing the safety of the coastal areas. Also, regionally, factors such as continuously rising defense spending by the US government, followed by ongoing border dispute in Asia, the rising illegal migration crisis in Europe, high volatile border situation in the Middle East and Africa, and high emphasis on curtailing drug tracking in South America are fuel the global coastal surveillance radar market growth.

A few key developments in the coastal surveillance radar market to be mentioned are:
In December 2021, Blighter Surveillance Systems Ltd. received a contract to provide four C400 series e-scanning radars at offshore oil platforms and onshore refineries in West Africa. The installation of such radar systems across the oil refineries will ensure enhanced security of the same from any threat.
In March 2021, HENSOLDT announced a collaboration with South Africa's Council for Scientific and Industrial Research to develop the next generation of tactical 3D surveillance radar systems. These systems are expected to ensure better efficiency in the real-time monitoring of coastal borders.

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Rising warfare, increasing terrorism threats, and rising government initiatives to strengthen the military & defense sector are a few main factors contributing to the constantly rising military expenditure across the globe. 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. A significant amount of this expenditure is utilized by the countries to procure military and defense equipment, such as aircraft, ground vehicles, naval ships, and other border monitoring equipment like coastal surveillance radars. Thus, the rise in military expenditure across the world 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 fuelling the coastal surveillance radar market growth.

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