Maritime Surveillance and Intervention Industry Research Report 2023: Global Market is Expected to Reach $52.41 Billion by 2032 - Supportive Regulatory Compliances Fueling Growth

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Jun 26, 2023, 13:15 ET

DUBLIN, June 26, 2023 /PRNewswire/ -- The "Maritime Surveillance and Intervention Market Share, Size, Trends, Industry Analysis Report, By System, By Services, By Application, By Region, Segment Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The global maritime surveillance and intervention market size is expected to reach USD 52.41 billion by 2032

Growing acceptance of robotic technology has accelerated the production of advanced autonomous underwater vehicles (AUV) and underwater interventionist vehicles. These robotic vehicles take surveillance to the next extreme. These solutions include advanced electrical components such as elevated cameras, sensor technology, and laser profilers.

For instance, in November 2022, HII's Mission Technologies business unveiled the REMUS 620, a visual technology unmanned underwater vehicle (UUV). The REMUS 620 builds on the design concept of the extremely successful REMUS 300, which the US Navy recently chose as the program of document for the Lionfish Small UUV.

It has a battery life of up to 110 hours and a range of 275 miles off the coast. It provides unrivaled mission functionality for protective measures, hydrographic questionnaires, intelligence gathering, surveillance, and radar systems.

Furthermore, in September 2022, Fairbanks Morse Defense signed a contract with Estonia's DECK Maritime Systems to develop and construct an "intelligent" launching and recapture technology for unmanned marine vehicles. Fairbanks Morse's expertise with manned technology will be combined with DECK's competence in engineering and autonomy.

This technology is suitable for both commercial and defense applications. It is utilized in the defense sector for intelligence, surveillance, and reconnaissance (ISR) applications, fast environmental evaluation, and mine countermeasures. Therefore, the rising adoption of robotic technology and the development of this technology-based autonomous marine vehicle are the major factors assisting the market in growing rapidly.

Additionally, supportive regulatory compliances are driving the growth of the maritime security & safety industry. Assistance is offered for border control, security, fisheries, anti-piracy, & smuggling. Furthermore, the global component of such policies is often addressed to aid in detecting illegal operations in international waters.

Maritime Surveillance and Intervention Market Report Highlights

Security management segment is anticipated to grow at a significant CAGR over the forecast period. The increased demand for security management solutions to protect maritime businesses such as transport, fisheries, power production, and oil and gas production is increasing.
Coastal Surveillance segment accounted for considerable global revenue share. This substantial percentage can be attributed to a greater emphasis on bolstering maritime security as a result of rising disputes between adjacent countries, terrorist acts, and the changing nature of warfare in developed and emerging countries.
Asia-Pacific is expected to grow at a fastest CAGR over the projected period due to the growing requirement for advanced software that can recognize marine dangers and ensure communication with all relevant personnel across the maritime industry.
The global players include Bharat Electronics, Dassault Aviation, Elbit Systems, Northrop Grumman, Naval Group, OSI Systems, Smiths Group, SRT Marine Systems, Saab, Sistemas, Thales Group, Westminster Group, & Yaltes SA

Market Dynamics

Drivers and Opportunities

Supportive Growth Through Regulatory Compliance/Policies
Maritime Safety Awareness

Restraints and Challenges

High integration and maintenance cost

Porter's Five Forces Analysis

PESTEL Analysis

Maritime Surveillance and Intervention Market Services Trends

Value Chain Analysis

COVID-19 Impact Analysis

Company Profiles

Bharat Electronics Limited
Dassault Aviation SA
Elbit Systems Ltd.
Furuno Electric Co. Ltd.
Indra Raytheon Technologies Corporation
Kongsberg Gruppen ASA
Northrop Grumman
Naval Group
OSI Systems Inc.
Smiths Group plc
SRT Marine Systems Plc
Saab AB
Sistemas S.A.
Thales Group
Westminster Group PLC
Yaltes SA

Scope of the Report

Maritime Surveillance and Intervention, System Outlook (Revenue - USD Billion, 2019 - 2032)

Detectors
Combat Management Systems
Surveillance and Tracking
Geographic Information System (GIS)
Others

Services Outlook (Revenue - USD Billion, 2019 - 2032)

Risk Assessment and Investigation
Maintenance and Support
Security Management
Others

Application Outlook (Revenue - USD Billion, 2019 - 2032)

Port and Critical Infrastructure Facility
Vessel Security
Coastal Surveillance
Search and rescue
Others

Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa

For more information about this report visit https://www.researchandmarkets.com/r/v3610f

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