Long Range Identification and Tracking Market

Long Range Identification & Tracking Market Analysis

The Long Range Identification and Tracking Market is expected to register a CAGR of 5.4% during the forecast period.

• Integrating a long-range tracking and identification system into a ship provides governments with information related to the ship's identity and location, helping government agencies mitigate security risks.
• In addition, the benefits of long-range tracking and identification systems such as sea search and rescue, marine environmental protection, and maritime safety are expected to drive the extended-range tracking and identification system market.
• Major countries use it to integrate the technology and infrastructure needed to integrate LRIT into the maritime sector to maintain vessel tracking and gain insights into safety and productivity associated with various routes at sea.
• Panama is a leader in the LRIT market, with more than 8,000 vessels using this technology. Meanwhile, other South American countries have emerged as the leading candidates for the market and have adopted this technology as early as 2010.

Long Range Identification & Tracking Market Trends

Defense to drive the market demand

• Major military spenders such as the United States and Europe-based NATO nations are significantly investing in new naval vessels. Development projects such as the European Corvette program, FFG(X) frigate development, etc., are expected to drive the long-range identification and tracking market growth.
• United States Navy plans to induct 46 new vessels to its naval fleet by 2023 and 20 FFG(X) next-generation frigates by 2030. This aforementioned factor is expected to propel the market growth due to the plans to equip these vessels with advanced C4ISR and battle management systems.
• On March 1, 2021, the Trilateral Secretariat of the National Security Advisor (NSA) on Maritime Security Cooperation between India, Sri Lanka, and the Maldives was established. The secretariat was set up at the Sri Lanka Navy (SLN) Headquarters in Colombo in conjunction with discussions at the 4th Trilateral Meeting on NSA-Level Maritime Cooperation in November 2020 to continue the communication between India, Sri Lanka, and the Maldives on issues related to maritime security in the Indian waters.

Asia Pacific To Exhibit The Highest Growth Rate

• The Asia Pacific region is home to major military powers such as India, China, Australia, South Korea, Japan, etc., which account for a significant share in total global military spending.
• The rise in border conflicts, air space violations by several nations, tensions in the South China Sea and pacific ocean, the development of hypersonic ballistic missiles, etc., are propelling the demand for advanced long-range identification and tracking systems in the region.
• APAC region has a significant influence on ensuring the protection of the marine environment from ships. Its coastal and marine ecosystems are one of the richest and most productive globally and of great social and economic importance. However, these are at risk, especially given the increase in shipping activity. Asia consists of some of the busiest sea routes and some of the world's largest ports.

Long Range Identification & Tracking Industry Overview

The long-range identification and tracking market is concentrated, with players such as Pole Star Space Applications Limited, Morsviazsputnik, China Transportation Telecommunication Center, Arskom Group, Fulcrum Maritime, etc., dominating the market. Market players are expected to enjoy good revenue growth due to the growth in demand for Intelligence, Surveillance, and Reconnaissance systems across the world.

• June 2021 - To enhance security, the United Kingdom joined the Indian Ocean Surveillance Hub in Gurgaon, India. Founded in April 2019, IFC-IOR has contacts from five countries: the United States, France, Japan, Australia, and now the United Kingdom. IMAC, which has grown into an IFC-IOR, was approved by the government in March 2012 and went into operation in November 2014 in just 2.5 years. It gets input from multiple sensors, such as the Indian coastal radar network managed by the Coast Guard.

Long Range Identification & Tracking Market Leaders

Long Range Identification & Tracking Market News

• December 2021 - Swiss Drones and CLS combine the power of satellite data with the agility of unmanned aerial vehicle drones. The two companies have recently demonstrated how drones can play an essential role in critical maritime operations such as search and rescue, fishery management, pollution, and vessel emission monitoring. The demonstration took place in the open ocean using the SwissDrones SDO 50V TOL unmanned helicopter system aboard the ship Argonaute off the coast of Bourbon.
• September 2021 - A Memorandum of Understanding (MoU) on regional safety, security, and marine environmental protection has been signed between the Government of Maldives and the Government of India. Under the agreement, the Maldives will have free access to India's MRIT service, National Disaster Medical Center (NDC), and LRIT Conformity Testing Facility. This allows the Maldives to fulfill its obligations as a member of the International Maritime Organization (IMO) without establishing its disaster center. The Maldives will also receive India's support in human resources development.