Deerfield Beach, FL -- (SBWire) -- 10/26/2017 --Coastal surveillance act as a "virtual fence" that is recognition, identification, tracking, and destruction of the intruders. These systems have a number of applications in the electronic warfare, communication, intelligence, computer, and surveillance. The coastal surveillance systems are majorly used for search and rescue missions which act beneficial for the global coastal surveillance market.
The increasing surveillance applications and the low airspace monitoring in the navy sector help boost the growth of the global coastal surveillance market. The rise in coastal security due to the growing terrorist threats and regional conflicts among the neighboring countries is expected to fuel the global market growth.
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The use of the surveillance application by the navy in the search and rescue operations for finding missing vessels or ships drives the global market growth. The major factors such as the demand for warfare that is network-centric, growing demand for coastal surveillance systems, and highly competitive artificial intelligence demand are expected to attribute the growth of the coastal surveillance market. The low awareness regarding the coastal surveillance applications among the masses hinders the global market growth. The stringent government regulatory policies regarding the application of the surveillance systems, defense budget cuts, and scarce resources also restrain the growth of the global coastal surveillance market.
The global coastal surveillance market is bifurcated based on the end-user, application, scale, structure, and region. The end-user segment is further divided into coastal guard, naval, and others. The application segment is categorized into intelligence, computers, command and control, communications, surveillance and reconnaissance, and electronic warfare. The structure segment is classified into regional, national, and port.
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The scale segment is bifurcated into large-scale surveillance and moderate scale surveillance. The regional segmentation includes Asia-Pacific, Europe, North America, the Middle East, and Rest of the World. The naval segment and the intelligence segment's rising demand in the various regions are expected to dominate the overall global market.
Asia-Pacific is expected to dominate the global coastal surveillance market due to the increasing demand for the surveillance applications by the defense across the various regions. The market in the Asia-Pacific region is propelling due to the growing terrorism and regional conflicts which in turn benefits the global market. The rising utilization of coastal surveillance equipment, border issues or the regional tensions in South China helps boost the global market.
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The key players in the global coastal surveillance market include Thales Group, Northrop Grumman Corporation, Terma A/S, Elbit Systems Ltd., Indra Sistemas SA, Kongsberg Gruppen, and SAAB AB. These competitive players adopt a number of strategies such as the signing of agreements, bonds, contracts, joint ventures, partnerships, collaborations, mergers and acquisitions, business expansion, and new product development in order to acquire a standard position in the global market.
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