As cited by the business intelligence report titled ‘Global Coastal Surveillance Market Size study, by Application (C2, Communication, Computers, Intelligence, Surveillance & Reconnaissance, and Electronic Warfare), End Use (Naval, Coast Guard), Structure (National, Regional, and Port), Scale (Large Scale Surveillance, Moderate Scale Surveillance) and Regional Forecasts 2020-2027’, available with Market Study Report, global coastal surveillance market was worth USD 32.1 billion in 2019 and is predicted to exhibit 3.38% CAGR over 2020-2027, subsequently reaching a valuation of USD 41.9 billion by the end of the forecast period.
 

As per the report findings, growing efforts to shorten mission cycle time, increasing occurrences of illegal maritime activities, and rising prevalence of asymmetric warfare are catalyzing global coastal surveillance market growth.
 

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For those unaware, the primary function of coastal surveillance systems is to detect, recognize, monitor, and remove intruders from a coastline area. These systems comprise a wide range of electronic warfare, networking, and other surveillance applications, and are mainly utilized to conduct search & rescue missions.
 

Speaking of the negatives, limited defense budget in developing nations and dearth of resources for handling changing technical climate will continue to hinder global coastal surveillance market expansion in the ensuing years.
 

Based on application scope, the market is bifurcated into electronic warfare, surveillance & reconnaissance, intelligence, computers, and C2 communication. With regards to end-user terrain, the vertical is split into coast guard and naval.
 

Elaborating on regional outlook, Asia-Pacific, North America, Europe, and Latin America are the key contributors of global coastal surveillance market value. Among these, North America currently dominates the business sphere. Increasing number of illegal maritime activities such as illicit trade and piracy will continue to drive the regional market growth through 2027.
 

Meanwhile, Asia-Pacific market is slated to grow exponentially, exhibiting a robust yearly growth rate over 2020-2027. Growing efforts towards shortening mission cycle time and rising prevalence of asymmetric warfare are fostering the regional industry growth.
 

Thales Group, Northrop Grumman Corp., Hensoldt UK (formerly Kelvin Hughes), Terma A/S, Saab AB, Kongsberg Gruppen ASA, Elbit Systems Ltd., Rolta India Ltd, Indra Sistemas, S.A., and Tokyo Keiki, Inc. are the top firms influencing global coastal surveillance industry trends.