The naval system surveillance radar market in Middle East & Africa is expected to grow from US$ 386.99 million in 2022 to US$ 491.27 million by 2028. It is estimated to grow at a CAGR of 4.1% from 2022 to 2028.
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coastline and submarine solely with human eyes, hoping to detect repeat offenders and known criminals using sometimes-out-of-date paper, are long gone (although still a vital part of the effort).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 MEA 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 MEA naval system surveillance radar market growth.
Market Overview
South Africa, Saudi Arabia, the UAE, and the rest of the Middle East & Africa are the key contributors to the naval system surveillance radar market in the Middle East & Africa. According to data published by SIPRI in 2021, the military expenditure in the Middle East reached US$ 186 billion and US$ 39.7 billion in Africa. Further, Turkey, Israel, Iran, and Algeria are prominent military spenders after Saudi Arabia across the Middle East region. Thus, military spending is increasing the demand for various surveillance systems used for naval applications, thereby driving the growth of the naval system surveillance radar market. The MEA is witnessing moderate growth in the MEA naval system surveillance radar market due to moderate implementation of the radar system and limited adoption of advanced naval technologies. However, the increasing awareness of radar systems and associated benefits in the navy sectors is supporting the growth of the MEA naval system surveillance radar market across the region. For instance, Naval Group, a French shipyard, unveiled Bani Yas, the first of two new Gowind 2500 corvettes for the UAE Navy, in December 2021. The second ship will be launched in 2022, and both will be commissioned within six months. Adding a new ship or boat to the naval force can drive the naval system surveillance radar demand. Further, the Middle East is witnessing various conflicts between countries such as Saudi Arabia, Syria, Iran, and Iraq, leading to an increase in the import of arms and ammunition in the region. As a result, the demand for surveillance systems is increasing to protect borders from cross-border conflicts. Moreover, Disputes in the Gulf and the wider Middle East have been the main motivation of increased defense spending and efforts to improve naval capability in recent years. Thus, such disputes between the countries are driving the growth of the MEA naval system surveillance radar market in the region.
Middle East & Africa Naval System Surveillance Radar Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Naval System Surveillance Radar Market Segmentation
The Middle East & Africa naval system surveillance radar market is segmented into type, application, and country.
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 Middle East & Africa naval system surveillance radar market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 386.99 Million |
| Market Size by 2028 | US$ 491.27 Million |
| CAGR (2022 - 2028) | 4.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Naval System Surveillance Radar Market is valued at US$ 386.99 Million in 2022, it is projected to reach US$ 491.27 Million by 2028.
As per our report Middle East & Africa Naval System Surveillance Radar Market, the market size is valued at US$ 386.99 Million in 2022, projecting it to reach US$ 491.27 Million by 2028. This translates to a CAGR of approximately 4.1% during the forecast period.
The Middle East & Africa 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 Middle East & Africa Naval System Surveillance Radar Market report:
The Middle East & Africa 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 Middle East & Africa Naval System Surveillance Radar Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Naval System Surveillance Radar Market value chain can benefit from the information contained in a comprehensive market report.
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