Pune, India, Dec. 20, 2023 (Globe Newswire) — Surveillance radar market size was valued at USD 8.9 billion in 2022 and is projected to grow from USD 9.9 billion in 2023 to USD 19.94 billion by 2030, registering a CAGR of 10.5% during the forecast period.
Radar surveillance systems play a critical role in monitoring diverse activities across strategic locations such as ports, airports, and military bases. Critical to national security, these systems are deployed to detect and track collaborative, non-linear mobile targets. They also help strengthen border security and serve both defense and commercial purposes. Operating on a variety of platforms including land, sea, air, and space, these radar systems are essential to border security operations. Insights on this technology are provided in Fortune Business Insights’ report, “Global Surveillance Radar Market, 2023-2030.”
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List of key companies profiled in the Surveillance Radar Market report:
- BAE Systems Plc (UK)
- Hensoldt AG (Germany)
- Leonardo SpA (Italy)
- Honeywell International (USA)
- Lockheed Martin Corporation (USA)
- L3 Harris Technologies Inc. (USA)
- Northrop Grumman Corporation (USA)
- Raytheon Technologies Corporation (USA)
- Saab AB (Sweden)
- Thales Group (France)
Report scope and segmentation:
| Report scope | detail |
| Forecast period | 2023-2030 |
| CAGR forecast | 10.5% |
| 2030 value prediction | $19.94 billion |
| Market size in 2023 | $9.9 billion |
| historical data | 2019-2021 |
| number of pages | 200 |
| Report scope | Earnings forecast, company profile, competitive environment, growth factors, latest trends |
| Target segment |
|
| Target area |
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| Surveillance radar market growth drivers | Advances in border surveillance systems increase demand for aerial surveillance radars |
| Expansion of new airports and maintenance of existing airports will drive Surveillance Radar market growth |
See a detailed overview of the research report in the table of contents:
https://www.fortunebusinessinsights.com/surveillance-radars-market-104290
Impact of the Russia-Ukraine war:
Russia-Ukraine conflict increases need for surveillance radar
In the wake of events such as the Russia-Ukraine war, several countries around the world are evaluating their defense spending and purchasing plans and making appropriate adjustments. India, China, Canada, Estonia, Iraq, and Taiwan have made building the infrastructure needed to defend against emerging threats a top defense spending priority. Therefore, the conflict between Russia and Ukraine has driven global demand.
segment:
Application segmentation:
- Port monitoring
- surveillance at the airport
- Security operations at military bases
Target type segmentation:
- Target of cooperation
- nonlinear target
- moving target
Security-focused segmentation:
- national security applications
- defense sector
- commercial sector
Platform segmentation:
- land radar system
- maritime radar system
- aircraft radar system
- space radar system
Geographic segmentation:
- Regional distribution of surveillance radar systems
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Report scope:
This report presents a comprehensive study of the market with current trends and future forecasts to establish near-term investment returns. A detailed analysis of upcoming opportunities, threats, competition and drivers is also provided in the report. Step by step, a thorough regional analysis is provided.
Driver and restraints:
Improved border surveillance systems increase demand for aerial surveillance radars
Autonomous drones and acoustic radar technology are two examples of border surveillance systems that have advanced and are currently being improved. Mobile border security radar allows for more effective border security. These radars are additionally used to increase the detection rate in critical areas. Modern low-false alarm radars are also being employed to aid border security in countries with border conflicts, drug trafficking, and illegal immigration. These factors are expected to increase the surveillance radar market share.
However, advanced features result in high maintenance costs, which may hinder the growth of the surveillance radar market.
regional insights
Asia-Pacific will dominate the market due to high demand for advanced naval radars
The largest market share is expected to be held by Asia Pacific region throughout the forecast period. Its market expansion is related to the growing demand for cutting-edge naval radars in developed countries such as China and India. Demand for ballistic missile systems from military industries in the Asia-Pacific region is also contributing to market expansion. Defense systems company LIG Nex1 signed a $145.4 million contract from South Korea’s Defense Acquisition Programs Agency (DAPA) in May 2021 for the mass production of the first Maritime Surveillance Radar II.
competitive environment
High-tech surveillance radar attracts the attention of major companies
There are several significant competitors in the highly competitive global market for surveillance radar. Several companies largely dominate the market in terms of market share. The market has become extremely competitive in recent years due to rapid advances in radar technology in recent years and the presence of many companies specializing in research and development aimed at creating cutting-edge market solutions.
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Detailed table of contents:
- introduction
- Research scope
- market segmentation
- research method
- Definitions and assumptions
- executive summary
- Market trend
- market drivers
- market constraints
- market opportunity
- key insights
- Key industry developments – key contracts and agreements, mergers, acquisitions and partnerships
- latest technology advancements
- Porter’s Five Forces Analysis
- supply chain analysis
- Impact of the Russia-Ukraine war
- Global Surveillance Radar Market Analysis, Insights and Forecasts, 2019-2030
- Main findings and definitions
- Market analysis, insights and forecasts – by platform
- Market analysis, insights and forecasts – by radar type
- short distance
- medium distance
- long distance
- Market analysis, insights and forecasts – by application
- commercial
- defense
- homeland security
- others
- Market analysis, insights and forecasts – by region
- North America
- Europe
- Asia Pacific
- middle east and africa
- south america
Table of contents continued…!
Development of major industries:
July 2022 – The Irish Government has announced that it will spend $203.9 million to procure radar to monitor Irish airspace.
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