The radar system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Radar System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The radar system market size has grown rapidly in recent years. It will grow from $31.71 billion in 2023 to $34.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. 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 $49.94 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. 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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Scope Of Radar System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Radar System Market Overview
Market Drivers –
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.
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
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Regional Insights –
North America was the largest region in the radar systems market in 2023. Asia-Pacific 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.
Key Companies –
Major companies operating in the radar system market include 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
Table of Contents
1. Executive Summary
2. Radar System Market Report Structure
3. Radar System Market Trends And Strategies
4. Radar System Market – Macro Economic Scenario
5. Radar System Market Size And Growth
…..
27. Radar System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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