Increase in defence spending
and growing technological advancements are driving global multi-function mobile
coastal surveillance radar system market through 2024
According to TechSci Research report, “Global Multi-Function Mobile Coastal Surveillance Radar System Market By Platform, By Frequency Band, By End Use, By Region, By Company, Competition, Forecast & Opportunities, 2024”, the global multi-function mobile coastal surveillance radar system market is forecast to cross $ 1.2 billion by 2024 on account of increasing incidences of marine conflicts, piracy at the sea, drug and human trafficking through the waterways. As many countries across the globe are attempting to gain control over maritime assets like underwater oil reserves and other offshore resources, traditional geopolitical disputes are gradually exasperating. On the account of these growing disputes worldwide, the demand for constant and efficient maritime surveillance is being emphasized by all countries. For instance, one such prevailing dispute is China’s conflict with its neighbors in the South China Sea and the Pacific Ocean, which is aiding the demand for multi-function mobile coastal surveillance radar systems in the South East Asian region to counter both surface and underwater threats from the enemies by building naval strengths.
Global multi-function mobile coastal surveillance radar system market can be segmented based on Platform, Frequency Band, End Use and Region. Considering the End Use, the market can be segmented into Ports, Harbours and Oil & Gas Vs. Maritime Protection. Maritime Protection segment is anticipated to witness high traction in the coming years on account of rising need for border surveillance and requirement of man-portable radars for battlefield surveillance, terrorism-based activities, among others. Furthermore, in terms of region, Asia-Pacific is anticipated to witness the highest growth during the forecast period owing to the presence of established manufacturers in the region and increasing demand for surveillance radars for border surveillance, intelligence, and reconnaissance, and modern air defense systems, among others.
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Northrop Grumman, General Electric, Wartsila, Kongsberg Grumman, Marlink, AST Group, CMR Group, Cummins Inc., Emerson Electric Co., Hyundai Heavy Industries Co., etc., are the leading players operating in the global multi-function mobile coastal surveillance radar system market. “Global multi-function mobile coastal surveillance radar system market is expected to grow at the steady pace through 2024 that can be attributed to the growing need for 3D air defense radars, rising demand for drone detection radars, and ongoing military modernizations, globally. Furthermore, the key players in the market have shifted their focus towards developing new multi-function mobile coastal surveillance radars with advanced features such as 3D tracking, track-while-scan, digital signal processing, and multi-beamforming antennas, among others, thereby propelling the growth of global multi-function mobile coastal surveillance radar system.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Multi-Function Mobile Coastal Surveillance Radar System Market By Platform, By Frequency Band, By End Use, By Region, By Company, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global multi-function mobile coastal surveillance radar system market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global multi-function mobile coastal surveillance radar system market.