Global Radar Market is segmented By Range (Short Range, Medium Range, Long Range), By Application (Military Applications, Air Traffic Control, Remote Sensing, Ground Traffic Control, Space, Others), By Platform (Land, Naval, Airborne, Space ), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Radar Market Size
Report analyses the global radar market reached US$ 24,012.56 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 41,026.41 million by 2031. The market is growing at a CAGR of 5.8% during the forecast period (2024-2031). Demand from Defence and Space in North America is spiking. Competitive rivalry intensifies with Lockheed Martin Corporation, Saab AB, Rockwell Collins and others operating in the market.
The long-range segment is expected to hold more than 50% of the market share during the forecasted period and in North America, the U.S. is accounting for approximately 85% of the regional market share. The global radar market is experiencing substantial growth and is driven by increasing demand across various sectors. Radar technology plays a crucial role in detecting, tracking, and identifying objects in the air, on land, and at sea.
Radar Market Summary
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Metrics |
Details |
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CAGR |
5.8% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Range, Platform, Application and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Global Radar Market Dynamics
The Need For Military Radars And Surveillance Equipment Is Increasing Due To The Growing Border Safety
In recent years, there has been an increased focus on enhancing border security due to factors such as rising cross-border threats, illegal immigration, smuggling activities, and terrorist threats. Governments and defense organizations worldwide are investing in advanced radar systems to bolster their surveillance capabilities and ensure better border safety.
Additionally, the military sector is a significant contributor to the demand for radar systems. Modern military operations require reliable and sophisticated radar technologies for situational awareness, target detection, tracking, and threat assessment. Radars enable defense forces to monitor airspace, maritime domains, and land borders, helping them respond effectively to potential threats and maintain national security.
Stringent Regulations Hinders The Growth Of The Radar Market
Radar systems rely on specific frequency bands for their operation. Spectrum allocation refers to the process of assigning and regulating the use of different frequency bands for various applications. However, in some cases, limited availability of spectrum or strict regulations on spectrum usage can impact the deployment and expansion of radar systems, particularly for certain applications such as automotive radar or drone surveillance.
Global Radar Market Segmentation Analysis
The global radar market is segmented based on range, platform, application and region.
Owing to Its Widespread Use In Air Defense, Maritime Surveillance, Border Control, And Weather Monitoring, Long Range Segment Dominates The Global Radar Market
Long-range radar systems are crucial for detecting and tracking targets over extended distances, making them indispensable in various applications. In air defense, long-range radars are employed to detect and track incoming aircraft and missiles, enabling timely responses and threat assessment. These radar systems provide early warning capabilities, allowing air defense forces to take appropriate measures to protect airspace and national security.
The AN/TPS-77 is a long-range surveillance radar system that is widely used in air defense and border control applications. It provides long-range surveillance capabilities, allowing for the detection and tracking of aircraft, missiles, and other airborne targets. The AN/TPS-77 has been adopted by various countries globally, underscoring the demand for long-range radar systems in air defense and border security.
Application: DataM Intelligence Analysis (2023)
Global Radar Market Geographical Share
Radar Company Growth Opportunities in North America Are Enormous Because Of Massive Investments Delivered To Strengthen The Defense Sector
Tremendous investment in boosting the defense sector in North America has created significant market growth prospects for the radar business. The defense sector in North America, particularly in the U.S., has witnessed substantial investments in modernizing and enhancing defense capabilities, including radar systems. This has resulted in a favorable market environment for radar businesses in the region.
For instance, The AN/SPY-6 is an advanced, long-range surveillance radar developed by Raytheon Technologies for the United States Navy. It is a key component of the Aegis Combat System and is designed to detect and track multiple threats simultaneously, including ballistic missiles, aircraft, and surface vessels. The development and deployment of the AN/SPY-6 radar is part of the U.S. Navy's modernization efforts, driven by substantial investments in defense.
Application: DataM Intelligence Analysis (2023)
Radar Market Key Players
The major global players include ASELSAN A.S, Saab AB, Rockwell Collins, Northrop Grumman Corporation, Thales Group, Raytheon Technologies Corporation, Hensoldt AG, L3Harris Technologies Inc, Lockheed Martin Corporation and SRC, Inc.
Key Developments
- On March 20, 2023, in order to provide the Republic of Korea Air Force with the newest generation of resilient, high-altitude airborne early warning and control aircraft, L3Harris Technologies, Melbourne announced a teaming partnership with Israeli Aerospace Industries' ELTA Systems Group (IAI/ELTA) and Korean Air Lines.
- On November 21, 2022, a Lockheed Martin Corp. LMT company with U.S. headquarters won a contract to provide Kuwait with ground-based radar systems. The prize was given by the Air Force Life Cycle Management Centre at Hanscom Air Force Base in Massachusetts.
- On November 9, 2022, in order to supply the US Navy with two more AN/SPN-50(V)1 shipboard air traffic radar (SATR) systems, Saab was granted a contract modification.
Why Purchase the Report?
- To visualize the global radar market segmentation based on range, platform, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of radar market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global radar market report would provide approximately 61 tables, 60 figures and 180 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
