Global Radar Systems Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Radar is used to detect the range, angle and velocity of the objects. The increased use of UAV’s in military and defence is the primary factor driving the market growth. The escalation in demand for multi-function object detection system which is used for the surveillance, early warnings, missile control is driving the market growth of radars. The radars play a major role in war zones, which can be mounted on the vehicles to detect the enemy positions and helps ion tracking their movements. The rise in the use of radars coupled with naval, airborne and space-based radars for the target incorporation will boost the market growth. Radars equipped with the latest technologies and procures the quality detector equipment and defence vessels which is boosting the market growth.

Global Radar Systems Market Size:

Global Radar Systems market is poised to reach the value of $30.88 billion in 2024 from $21.38 billion in 2017, growing with the CAGR of 5.39%. Key points like increased use of radars for uncrewed vehicles, the emergence of modern warfare systems such as electronic warfare and network-centric warfare, increased R&D investments by automotive industry to improve the safety and comfort aspects in vehicles and improved capabilities of radar systems resulting in higher efficiency are driving the market growth. Whereas the facts like high cost incurred in the development of radar systems, government rules and regulations related to bandwidth allocation for commercial applications and system vulnerability due to electromagnetic jamming of sensors and noise interruption are hampering the market growth. The market has opportunities like the development of autonomous vehicle technology and development of low-cost and miniaturised radars which are enhancing the market at the global level.

Global Radar Systems Market Share:

The market is segmented as by component, by range, by technology, by application and by geography. By the component, the market is classified into antenna, receiver and transmitter. The antenna is the fastest growing segment owing to the various technological advancements. For example, the limitations of the conventional radars will be overcome with the newly incorporated array technology which has made the surveillance to be more effective. By range, the market is segmented into short range radars, medium range radars and long-range radars. Long range radar is dominating the market growth owing to the adoption of these radars in the defence and armies of various developed and developing countries to receive/transmit the information. Short-range radars are fastest growing due to increased usage in the commercial applications. By technology, the market is classified into pulsed radar and CW radar. Pulsed radar segment is expected to lead the market due to increased use of the pulsed radars for efficient and accurate object detection and range estimation.

By application, the market is segmented into defence and commercial applications. The commercial segment is expected to lead the market owing to the increasing usage of radars for various industries like automotive and oil & gas. By geography, the market is classified into APAC, North America, South America, Europe and Middle East & Africa regions. North America is expected to hold the most significant market share is owing to the increasing demand for the uncrewed vehicles in air surveillance for homeland and coastal surveillance in the region. Europe has the broad scope next to North America in the regard of radar systems. APAC is the fastest growing region owing to the increased disputes in the developing countries and raised procurement of surveillance systems. South America and Middle East & Africa are promising markets in the regard of Radar Systems market.

Global Radar Systems Market Trends:

• Lockheed Martin has announced the expansion of its base in Orlando and is in a plan to hire 1,800 people in next two years.
• Northman Grumman will serve as the titanium patron and will be presenting an expanded portfolio of software-enabled air and missile defence technologies in the 2018 space and missile defence symposium.

Global Radar Systems Market Research Reports Includes:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have a complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
• Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
• Identifying DROC in the current market and their impact on altering market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
• Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the major market players, such as
  • Lockheed Martin Corporation
  • Weibel Scientific A/S
  • Northrop Grumman Corporation
  • Honeywell International Inc.
  • Rockwell Collins, Inc.

Along with these companies, there were many other companies are considered in the report while analysing the Global Radar Systems market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.