Overview and Scope
The radar system uses electromagnetic signals to detect and locate objects like ships, vehicles, aircraft, and others. Radar systems operate by emitting electromagnetic energy into space and by analyzing an echo that results from the radiated energy getting reflected by an object.
Sizing and Forecast
The radar system market size has grown rapidly in recent years. It will grow from <b>$31.71 billion in 2023 to $34.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. </b> The growth in the historic period can be attributed to military modernization, rise in demand for surveillance and border security, growth in weather forecasting, rise in air traffic, growth in smart cities.
The radar system market size is expected to see strong growth in the next few years. It will grow to <b>$49.94 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. </b> The growth in the forecast period can be attributed to geopolitical tensions, need for maritime surveillance, rising autonomous vehicles, rise in defence budgets, emerging markets. Major trends in the forecast period include cognitive radar, miniaturization, frequency modulated continuous wave (fmcw) radar, digital beamforming, synthetic aperture radar (sar).
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Segmentation & Regional Insights
The radar system market covered in this report is segmented –
1) By Component: Transmitter, Receiver, Antenna, Other Components
2) By Technologies: Continuous Wave (CW) Radar, Pulsed Radar
3) By Frequency Band: X-Band, S-Band, C-Band, Other Frequencies
4) By Application: Air Traffic Control, Remote Sensing, Ground Traffic Control, Space Navigation And Control, Other Applications
5) By End-user: Aviation, Maritime Applications, Automotive, Military And Defense
<b>North America</b> was the largest region in the radar systems market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the radar systems market share during the forecast period. The regions covered in the radar system market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in the utilization of radar systems for weather monitoring is expected to propel the growth of the radar system market. The radar systems use electromagnetic signals to detect and locate objects. They can be utilized in weather monitoring to provide data to understand weather systems, improved forecasts (especially critical weather), flood warnings, hydrological applications, and climate research. For instance, in January 2022, India Meteorological Department (IMD) launched operations of four new Doppler weather radars that use drone-based observation technology to improve the weather forecast system. These radars will provide improved rainfall monitoring and hydrometeor classification using dual-polarization technology to distinguish between snow, rain, and hail. Therefore, the rise in the utilization of radar systems for weather monitoring drives the growth of the radar system market.
Key Industry Players
Major companies operating in the radar system market include <b> BAE Systems Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Ltd., Saab AB, Thales Group, Honeywell International Inc., General Dynamics Corporation, Israel Aerospace Industries Ltd., Reutech Radar Systems Ltd., Elcome Integrated Systems Pvt. Ltd., L3Harris Technologies Inc., NXP Semiconductors N.V., Infineon Technologies AG, Hensoldt Corp., Indra Sistemas SA, Rheinmetall AG, Safran SA, Terma A/S, Serco Group Plc, FLIR LLC, Aselsan AS, SRC Inc., ELTA Systems Ltd., Mercury Ltd., RADA Electronic Industries Ltd., International Foodstuffs Co., Cobham Inc., Telephonics Corporation </b>
The radar system market report table of contents includes:
1. Executive Summary
2.Radar System Market Characteristics
3.Radar System Market Trends And Strategies
4.Radar System market analysis
5.Radar System Market Size And Growth
6.Radar System Segmentation
7.Radar System Regional And Country Analysis
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27.Radar System Competitive Landscape And Company Profiles
28.Radar System Key Mergers And Acquisitions
29.Radar System Future Outlook and Potential Analysis
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