Middle East & Africa Naval System Surveillance Radar Market
No. of Pages: 128 | Report Code: BMIRE00027253 | Category: Aerospace and Defense
No. of Pages: 128 | Report Code: BMIRE00027253 | Category: Aerospace and Defense
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coastline and submarine solely with human eyes, hoping to detect repeat offenders and known criminals using sometimes-out-of-date paper, are long gone (although still a vital part of the effort).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)
Strategic insights for the Middle East & Africa Naval System Surveillance Radar provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Middle East & Africa Naval System Surveillance Radar refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Middle East & Africa Naval System Surveillance Radar Strategic Insights
Middle East & Africa Naval System Surveillance Radar Report Scope
Report Attribute
Details
Market size in 2022
US$ 386.99 Million
Market Size by 2028
US$ 491.27 Million
Global CAGR (2022 - 2028)
4.1%
Historical Data
2020-2021
Forecast period
2023-2028
Segments Covered
By Type
By Application
Regions and Countries Covered
Middle East and Africa
Market leaders and key company profiles
Middle East & Africa Naval System Surveillance Radar Regional Insights
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.
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.