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Military Satellite Market Analysis

ID: MRFR//0745-CR | 110 Pages | Author: Sejal Akre| September 2019

Coastal and maritime tourism play a crucial role in the worldwide tourism scene, and this sector has been growing significantly on a global scale. A report from the European Commission in 2014 highlighted that coastal and maritime tourism stands out as the biggest maritime activity in Europe. This sector provides jobs for nearly 3.2 million people and contributes approximately USD 212 billion (equivalent to EUR 183 billion) in gross value added. Impressively, it represents over one-third of the entire maritime economy.
Dubai, a prominent player in maritime tourism, has witnessed a substantial increase in the number of maritime tourists and cruises. The figures rose by 15% and 18%, respectively, between 2016 and 2017. This indicates a growing interest and attraction to maritime activities in the region.
Looking at the global scenario, the Cruise Lines International Association (CLIA) predicts a continued and steady growth in the global cruise industry in 2018. To meet the increasing demand, more than two dozen new cruise ship deliveries are scheduled. This signals a positive trend in the popularity of cruise vacations and maritime tourism worldwide.
Furthermore, the Chinese government has recognized the importance of cruise shipbuilding in its broader plan called the Made in China 2025 program, which aims to enhance domestic manufacturing capabilities. By earmarking cruise ship construction as a significant objective, China aims to actively contribute to the growth and development of the maritime tourism industry.
In essence, the rise in coastal and maritime tourism is not only a local or regional phenomenon but a global trend. The economic significance of this sector, as demonstrated by its substantial contribution to employment and gross value added, underscores its importance in the broader tourism and economic landscape. As more people show interest in maritime activities and cruise vacations, the industry is expected to continue its growth trajectory, providing opportunities for economic development and cultural exchange on a global scale.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Orbit type, Payload type, satellite type, system, application and Region
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