Surveillance Radars Market to Surpass USD 19.94 Billion by 2030 | Growing at 10.5% CAGR

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Surveillance Radars Market

Surveillance Radars Market
Surveillance Radars Market

Pune, India, Dec. 20, 2023 (GLOBE NEWSWIRE) — The global surveillance radars market size was valued at USD 8.90 billion in 2022 and is projected to grow from USD 9.90 billion in 2023 to USD 19.94 billion by 2030, exhibiting a CAGR of 10.5% during the forecast period.

Radar surveillance systems play a crucial role in monitoring diverse activities across strategic locations like ports, airports, and military bases. Essential for national security, these systems are deployed to detect and track cooperative, non-linear, and mobile targets. They are also instrumental in enhancing border security, serving both defense and commercial purposes. Operating across different platforms such as land, sea, air, and space, these radar systems are indispensable for border security operations. The insights into this technology are presented in the report “Global Surveillance Radars Market, 2023–2030” by Fortune Business Insights.

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List of Key Players Profiled in the Surveillance Radars Market Report:

  • BAE Systems Plc (U.K.)
  • Hensoldt AG (Germany)
  • Leonardo S.p.A. (Italy)
  • Honeywell International (U.S.)
  • Lockheed Martin Corporation (U.S.)
  • L3 Harris Technologies Inc. (U.S.)
  • Northrop Grumman Corporation (U.S.)
  • Raytheon Technologies Corporation (U.S.)
  • SAAB AB (Sweden)
  • Thales Group (France)

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2023-2030
Forecast CAGR 10.5%
2030 Value Projection USD 19.94 Billion
Market Size in 2023 USD 9.90 Billion
Historical Data 2019-2021
No. of Pages 200
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
  • By Platform
  • By Radar Type
  • By Application
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Surveillance Radars Market Growth Drivers Advancement in Border Surveillance System has Increased the Demand for Air Surveillance Radars
Expansion of New and Maintenance of Existing Airports will Propel the Surveillance Radars Market Growth

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https://www.fortunebusinessinsights.com/surveillance-radars-market-104290

Russia-Ukraine War Impact:

Conflict between Russia and Ukraine Increases Need for Surveillance Radars

Following events such as the Russia-Ukraine war, several nations throughout the world have evaluated their defense spending and purchase plans and made appropriate adjustments. India, China, Canada, Estonia, Iraq, and Taiwan have made building the required infrastructure for fending off emerging threats a top priority for their defense spending. Hence, the conflict between Russia and Ukraine catalyzed the global demand.

Segments:

Application Segmentation:

  • Monitoring of Ports
  • Surveillance at Airports
  • Security Operations in Military Bases

Target Type Segmentation:

  • Cooperative Targets
  • Non-linear Targets
  • Moving Targets

Security Focus Segmentation:

  • National Security Applications
  • Defense Sector
  • Commercial Sector

Platform Segmentation:

  • Land-based Radar Systems
  • Sea-based Radar Systems
  • Airborne Radar Systems
  • Space-based Radar Systems

Geographical Segmentation:

  • Regional Distribution of Surveillance Radar Systems

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Report Coverage:

The report presents a holistic study of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, thorough regional analysis is offered.

Drivers & Restraints:

Demand for Air Surveillance Radars has increased due to Improvements in Border Surveillance Systems

Autonomous drones and acoustic radar technology are two examples of border surveillance systems that have advanced and are still improving. More effective border security has been made possible due to mobile border security radars. These radars are additionally employed to increase the detection rate in key areas. Modern low-false-alarm radars have also been adopted by nations with border conflicts, drug trafficking, and undocumented immigration to help with border security. These factors are anticipated to increase the surveillance radars market share.

However, due to its advanced features, the maintenance cost is high, which may impede the surveillance radars market growth.

Regional Insights

Asia Pacific will dominate the Market due to High Demand for Advanced Naval Radars

The largest market share is anticipated to be held by Asia Pacific throughout the forecast period. Its market expansion is related to the rise in demand for cutting-edge naval radars in industrialized nations such as China and India. The Asia Pacific military industry’s demand for ballistic missile systems has also contributed to market expansion. Defense Systems Company LIG Nex1 was given a USD 145.4 million contract by South Korea’s Defense Acquisition Program Administration (DAPA) in May 2021 for the mass manufacture of the first Maritime Surveillance Radar-II.

Competitive Landscape

High Tech Surveillance Radar is the Attention of Major Players

There are several significant competitors in the extremely competitive global market for surveillance radar. Several firms significantly dominate the market in terms of market share. Due to the rapid advancement of radar technology in recent years and the presence of numerous businesses specializing in research and development with the goal of creating cutting-edge market solutions, the market has recently become extremely competitive.

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
    • Impact of Russia – Ukraine War
  • Global Surveillance Radars Market Analysis, Insights and Forecast, 2019-2030
    • Key Findings / Definitions
    • Market Analysis, Insights and Forecast – By Platform
      • Airborne
      • Ground
      • Space
      • Naval
    • Market Analysis, Insights and Forecast – By Radar Type
      • Short-Range
      • Medium-Range
      • Long-Range
    • Market Analysis, Insights and Forecast – By Application
      • Commercial
      • Defense
      • Homeland Security
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America

TOC Continued…!
Key Industry Development: 

July 2022 – Irish government announced to spend USD 203.9 million for procurement of radars to monitor Irish air space.

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