Global Radar Systems Market

Radar Systems Market Size, Share, Growth Analysis, By Platform(Air [Commercial Aircraft (Fixed-wing Aircraft, Rotary-wing Aircraft), Military Aircraft (Fixed-wing Aircraft, Rotary-wing Aircraft)]), By Frequency band(Single Band [Radio Waves (U/V HF band), Microwave (L-band, S-band, C-band), By Component(Antenna [Rotating Antennas, Electronically Steered Array (Active arrays, Passive Arrays), Microstrip Antennas]), By Range(Short range, Medium Range, Long Range), By Range(Short range, Medium Range, Long Range), By Technology(Software-defined Radar (SDR), Conventional radar), By Dimension(2D, 3D, 4D), By Application(Commercial [Aircraft Monitoring & Surveillance, Weather Monitoring, Airport Perimeter Security, Critical Infrastructure]), By Region - Industry Forecast 2025-2032


Report ID: SQMIG20A2090 | Region: Global | Published Date: September, 2024
Pages: 202 | Tables: 67 | Figures: 75

Radar Systems Market Dynamics

Drivers 

Increasing demand for radar systems in defense and military applications

  • The global radar systems market is driven by the increasing demand for advanced radar systems in defense and military applications. Governments around the world are investing heavily in the development and procurement of advanced radar systems to enhance their surveillance, intelligence, and defense capabilities. For example, the U.S. Army recently awarded a contract worth $215 million to Lockheed Martin to develop and manufacture advanced radar systems for its AH-64E Apache attack helicopters. 

Growing demand for radar systems in commercial and civil applications

  • In addition to defense and military applications, radar systems are also increasingly being used in commercial and civil applications, such as air traffic control, weather monitoring, and maritime surveillance. This is driving the demand for advanced radar systems that can provide accurate and reliable data in real-time. For example, the European Space Agency (ESA) recently launched the Sentinel-1 mission, which uses radar imaging to monitor land and sea surfaces for a variety of applications, such as disaster management and environmental monitoring. 

Restraints 

High cost of radar systems

  • One of the major restraints on the global radar systems market is the high cost of radar systems, which can limit their adoption in certain applications, particularly in developing countries. The cost of advanced radar systems can run into millions of dollars, which can be a major barrier to entry for many organizations. For example, the Indian Air Force recently decided to cancel its order for 83 Tejas Light Combat Aircraft due to cost issues. 

Technological challenges

  • Another major restraint on the global radar systems market is the complexity of radar technology and the challenges associated with developing advanced radar systems that can meet the evolving needs of defense and commercial applications. This requires significant investments in research and development, as well as specialized skills and expertise. 
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FAQs

Radar Systems Market size was valued at USD 34.34 Billion in 2022 and is poised to grow from USD 36.02 Billion in 2023 to USD 52.82 Billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031). 

The Global Radar Systems Market is a highly competitive and dynamic market, with numerous players operating in the market. Some of the key players in the market have a strong presence in the market and offer a wide range of radar systems for different applications, including military, aerospace, and maritime. They also invest heavily in research and development to develop innovative radar systems with improved performance and capabilities. In addition to these major players, there are also many smaller players operating in the market that focus on niche markets or specific applications and offer specialized radar systems to meet specific customer needs. The competitive landscape of the radar systems market is shaped by factors such as technological advancements, product innovation, strategic partnerships, and mergers and acquisitions. Companies in the market are constantly striving to improve their product offerings and gain a competitive edge through various strategies such as collaborations with other players in the market or investments in research and development.  'Northrop Grumman Corporation (US) ', 'Lockheed Martin Corporation (US) ', 'The Boeing Company (US) ', 'General Dynamics Corporation (US) ', 'Thales (France) ', 'Kongsberg (Norway) ', 'Saab AB (Sweden) ', 'Honeywell International Inc. (US) ', 'BAE Systems (UK) ', 'Leonardo S.p.A. (Italy) ', 'Israel Aerospace Industries (Israel) ', 'Aselsan A.S. (Turkey) ', 'Elbit Systems (Israel) ', 'Indra Company (Spain) ', 'Garmin Limited (US) ', 'Bharat Electronics Ltd (India) ', 'Airbus Group (Netherlands) ', 'Mitsubishi Electric (Japan) ', 'SRC, Inc. (US) ', 'Hensoldt AG (Germany) ', 'Ainstein Radar Systems (US) '

The global radar systems market is driven by the increasing demand for advanced radar systems in defense and military applications. Governments around the world are investing heavily in the development and procurement of advanced radar systems to enhance their surveillance, intelligence, and defense capabilities. For example, the U.S. Army recently awarded a contract worth $215 million to Lockheed Martin to develop and manufacture advanced radar systems for its AH-64E Apache attack helicopters. 

Advancements in radar technology: The global radar systems market is witnessing significant advancements in radar technology, driven by ongoing research and development efforts. For example, the development of digital beamforming technology is enabling the development of more advanced and precise radar systems that can provide high-resolution imaging and target tracking.

North America dominated the global market, accounting for the largest share of revenue. This is due to the high demand for advanced defense systems and the presence of key market players in the region. The United States, in particular, is the largest market for radar systems in North America, owing to its significant defense spending and the presence of major defense contractors.

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Global Radar Systems Market

Report ID: SQMIG20A2090

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