Overview and Scope
Surveillance radar is an apparatus that uses radio wave pulses to emit and receive echoes to detect aircraft. It is used to detect and display the presence and position of aircraft in the terminal area.
Sizing and Forecast
The surveillance radar market size has grown strongly in recent years. It will grow from $9.07 billion in 2023 to $9.96 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to military defense development, air traffic control enhancement, maritime surveillance advancements, weather monitoring and forecasting, early warning systems.
The surveillance radar market size is expected to see strong growth in the next few years. It will grow to $13.98 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to rise in unmanned systems, adoption in smart cities, growth in counter-drone technology, infrastructure modernization, remote sensing and satellite integration. Major trends in the forecast period include multi-functional radar systems, interoperability and networking, environmental sustainability, integration with 5g technology, persistent surveillance techniques.
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Segmentation & Regional Insights
The surveillance radar market covered in this report is segmented –
1) By Component: Antennas, Transmitters, Power Amplifiers, Receivers, Duplexers, Digital Signal Processors, Other Components
2) By Radar Type: Short Range, Medium Range, Long Range
3) By Platform: Airborne, Ground, Space, Naval
4) By Application: Commercial, Military, National Security, Aerospace, Maritime, Other Applications
North America was the largest region in the surveillance radars market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surveillance radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing military expenditure is expected to propel the growth of the surveillance radar market going forward. Military expenditure refers to the quantity of financial resources allotted by a country to building and maintaining an armed force or other necessary defense measures. The modernization and infrastructure development of the defense services primarily drives the increasing military expenditure. Increased military expenditure drives research, development, and procurement of advanced surveillance technologies, leading to technological advancements and market growth in the surveillance industry. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based independent international institute dedicated to research into conflict, armaments, and arms, the North American military spending amounted to $904 billion in 2022, an increase of 0.7% compared with 2021. Therefore, increasing military expenditure is driving the growth of the surveillance radar market.
Key Industry Players
Major companies operating in the surveillance radar market report are Raytheon Company, The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Honeywell International Inc., BAE Systems plc., Thales Group, Leonardo S.p.A, L3HARRIS Technologies Inc., Serco Group plc, Elbit Systems Ltd., Israel Aerospace Industries Ltd., SAAB AB, FLIR Systems Ltd., ASELSAN A.Ş., Hensoldt AG, Cobham plc, SRC Inc., Therma A/S, Telephonics Corporation, Exelis Inc., RADA Electronic Industries Ltd., Kelvin Hughes Limited, Reutech Radar Systems, DeTect Inc., Blighter Surveillance Systems Ltd., Echodyne.
The surveillance radar market report table of contents includes:
1. Executive Summary
2. Surveillance Radar Market Characteristics
3. Surveillance Radar Market Trends And Strategies
4. Surveillance Radar Market – Macro Economic Scenario
5. Global Surveillance Radar Market Size and Growth
…
32. Global Surveillance Radar Market Competitive Benchmarking
33. Global Surveillance Radar Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Surveillance Radar Market
35. Surveillance Radar Market Future Outlook and Potential Analysis
36. Appendix
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