Growing Importance of Naval Surveillance Systems
The days of monitoring coastline and submarine solely with human eyes, hoping to detect repeat offenders and known criminals using sometimes-out-of-date paper, are long gone (although still a vital part of the effort). Satellites and sensor-equipped unmanned aerial vehicles (UAVs), ships, boats, and naval ports constantly monitor the country's borders and coastlines. The rapidly growing need for interdiction, the wide range of sensors and platforms currently in use or planned, and the dozens of local, state, and federal agencies involved have all increased the need for shared intelligence at all levels via real-time networks, advanced communications systems, and artificial intelligence (AI). Further, refugee ships are currently one of the most pressing issues on the high seas, so the naval surveillance operations are critical for ensuring that all activities on the seas or oceans are conducted securely and that national and international security is not harmed. Additionally, the Europe naval system surveillance radar market is driven by increasing marine safety and national safety awareness and an increase in trade and freight transport activities by the sea. Furthermore, increasing security concerns, rapid development in international marine trade, and regulatory compliance for maritime trade contribute to naval system surveillance radar market growth. Thus, implementing various rules and regulations for the better integration and regulation of maritime advanced security and surveillance system boosts the Europe naval system surveillance radar market growth.
Market Overview
Germany, France, Italy, the UK, Russia, and the Rest of Europe are the key contributors to the naval system surveillance radar market in the Europe. Well-established military & defense sectors are driving the demand for naval system surveillance radar across Europe. According to the report published by SIPRI in 2021, the military spending in Europe was US$ 418 billion, and the funding was implemented for various projects to improve surveillance and radar systems across North Atlantic Treaty Organization (NATO) allies and all the (European Union) EU member states. Thus, high military expenses across European countries drive the growth of the Europe naval system surveillance radar market across Europe. Europe is witnessing a rising penetration of advanced naval technologies, leading to the growing adoption of naval system surveillance radar. Further, in January 2020, Indra opened Spain's largest radar factory, which is one of the largest in Europe. Indra has centralized the production of all of its radar systems in a 7000-square-meter facility. The majority of next-generation radars will be sold to governments worldwide. The company’s initiatives to develop radar systems in the Europe region by opening the factory are boosting the Europe naval system surveillance radar market growth in the region. Further, in September 2021, Thales was awarded a contract to supply the Albatros Maritime Surveillance and Intervention Aircraft (AVSIMAR) program with its SEARCHMASTER surveillance radar and mission navigation system. This new initiative across regions drives the growth of the Europe naval system surveillance radar market across Europe.
Europe Naval System Surveillance Radar Market Segmentation
The Europe naval system surveillance radar market is segmented into type, application, and country. Based on type, the market is segmented into x-band and ku-band, l-band and s-band, and others. The x-band and ku-band segment registered the largest market share in 2022.
Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Technologies Corporation; Saab AB; Thales Group; BAE Systems; Israel Aerospace Industries Ltd; Leonardo S.p.a; Ultra; and HENSOLDT. are the leading companies operating in the Europe naval system surveillance radar market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,087.93 Million |
| Market Size by 2028 | US$ 1,727.08 Million |
| CAGR (2022 - 2028) | 8.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Naval System Surveillance Radar Market is valued at US$ 1,087.93 Million in 2022, it is projected to reach US$ 1,727.08 Million by 2028.
As per our report Europe Naval System Surveillance Radar Market, the market size is valued at US$ 1,087.93 Million in 2022, projecting it to reach US$ 1,727.08 Million by 2028. This translates to a CAGR of approximately 8.0% during the forecast period.
The Europe Naval System Surveillance Radar Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Naval System Surveillance Radar Market report:
The Europe Naval System Surveillance Radar Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Naval System Surveillance Radar Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Naval System Surveillance Radar Market value chain can benefit from the information contained in a comprehensive market report.
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