Asia-Pacific to Dominate Ocean Surface Radar Market During Forecast Period
Growing need for constant
and efficient maritime surveillance to drive growth of global ocean surface
radar market through 2024
According
to TechSci Research report, “Global
Ocean
Surface Radar Market By Technology Type, By Application, By Range, By
Region, Competition, Forecast & Opportunities, 2024”, the global ocean surface radar market is expected to grow
at a steady CAGR during the forecast period owing to the increasing defense
spending by governments of various countries across the globe. Additionally, growing
international trade and technology exchange is further propelling the market. However,
the uncertainties in the shipbuilding industry and state restrictions for
private sector in defence technology can hamper the growth of the market during
forecast period.
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Tables and Figures spread through Pages and an in-depth TOC on " Global Ocean Surface Radar Market"
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The global ocean surface radar market is segmented based on technology
type, application, range, company and region. Based on technology type, the
market can be divided into pulsed and continuous wave (CW). The pulsed type
dominates the market since it can produce high signal power needed for high
signal-to-noise ratio (SNR) and excellent range resolution used for measuring
long-range targets. Additionally, the measurement range provided by the pulsed
type is much more than the CW. Based on application, the market can be
bifurcated into defence and commercial. The defence segment dominates the
market on account of use of ocean radars mainly for defence and security
purposes. The commercial segment is expected to grow during forecast period
owing to the increasing use of ocean radars in weather forecasting.
Furuno Electric Co., Ltd.,
Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company,
Saab AB, Japan Radio Co. Ltd., BAE Systems plc, Raymarine Inc, Terma A/S,
Kelvin Hughes Limited and others are some of the leading players
operating in global ocean surface radar market. The companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations to boost their share.
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“Asia-Pacific is expected to be the fastest
growing market for ocean surface radar during the forecast period, owing to the
increasing defence spending by the governments of various countries in this
region, especially India and China. The demand for ocean radars is gaining
momentum for effective monitoring of illegal access in the maritime boundaries
of these countries. Additionally, China and India have longer coastlines as
compared to other countries and the governments of the countries are striving
hard to secure their respective coastlines. Owing to past experiences of
terrorist attacks, especially in India, through oceanic routes, Indian Ministry
of Defense is constantly increasing surveillance systems along the coastlines.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Ocean Surface Radar Market By Technology
Type, By Application, By Range, By Region, Competition, Forecast &
Opportunities, 2024”, has
evaluated the future growth potential of global ocean surface radar 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 ocean surface radar market.
Contact
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