Report : South America Coastal Surveillance Radar Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Band Type (X-Band, S-Band, X and S-Band, and Others), Platform (Ship Borne, Land Based, and Airborne), and End User (Ports Harbor Oil and Gas Companies, and Maritime Patrol Agencies)
Ship Borne Segment is Expected to be Fastest Growing During the Forecast Period form SAM Region
According to a new market research study on “SAM Coastal Surveillance Radar Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Band Type, Platform, and End User” is expected to reach US$ 37.68 million by 2028 from 32.03 US$ million in 2021. The market is estimated to grow at a CAGR of 2.3% from 2021 to 2028. The report provides trends prevailing in the SAM coastal surveillance radar market along with the drivers and restraints pertaining to the market growth. Rising adoption of coastal surveillance radar system across emerging economies is the major factor driving the growth of the SAM coastal surveillance radar market. However, issues associated with low infrastructure in developing economies hinders the growth of SAM coastal surveillance radar market.
SAM coastal surveillance radar market is segmented into band type, platform, end user and country. Based on band type, the SAM coastal surveillance radar market is segmented into X-band, S-band, X and S-band, and others. The X-band segment led the market in 2021. Based on platform, the SAM coastal surveillance radar market is segmented into shipborne, land based, airborne. Land based segment led the market in 2021. Based on end user, the SAM coastal surveillance radar market is segmented into ports, harbor, & oil and gas industry and maritime patrol agencies. Maritime patrol agencies segment led the market in 2021. Based on country, the SAM coastal surveillance radar market is segmented into Brazil, Argentina, and rest of SAM. Brazil held the largest market share in 2021.
Brazil has recorded the highest number of COVID-19 cases in SAM, followed by Ecuador, Peru, Chile, and Argentina, among others. The containment measures affected all economic activities in the region in 2020, thereby affecting the overall GDP of the region. A decline in overall GDP in the region and a decrease in military spending in 2020 compared to 2019, the procurement of advanced surveillance systems, including coastal surveillance radars, lowered in 2020 compared to that in 2019. SAM also experienced the tremors of the supply-side disruption, which resulted in the delayed deliveries of coastal surveillance radar systems in 2020. However, as the supply lines were stabilized from 2021 and deliveries of coastal radars began meeting their stipulated delivery timelines. For instance, ELTA System, a subsidiary of IAI, was awarded a coastal surveillance radar contract by the Republic of Trinidad and Tobago with 3-year maintenance agreement in 2019, which was marginally affected upon the onset of COVID-19.
Elbit Systems Ltd.; HENSOLDT; Israel Aerospace Industries Ltd.; Raytheon Technologies Corporation; Teledyne FLIR LLC; and Thales Group are among the leading companies in the SAM coastal surveillance radar market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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