USD 32.60 billion
Report ID: SQMIG30I2229 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 60 | Figures: 75
Global Radar Market size was valued at USD 32.60 billion in 2021 and is poised to grow from USD 33.31 billion in 2022 to USD 41.25 billion by 2030, growing at a CAGR of 3.10% during the forecast period (2023-2030).
The global radar market is dominated by radar-based equipment, which serves as a crucial security apparatus in defense sectors worldwide. Initially designed for military purposes, these systems are now extensively utilized in air traffic control, maritime operations, meteorological monitoring, and aircraft anti-collision systems. The proliferation of technology has led to the creation of lightweight radars, positively impacting market growth. Radar systems equipped with digital signal processing capabilities address security concerns effectively. The rising focus on safety and security, coupled with increased defense budgets, is projected to drive the demand for radar systems in the foreseeable future. Furthermore, the construction of new airports and terminals across the globe is expected to significantly contribute to market expansion. Heightened terrorist activities, inter-country conflicts, and border infiltrations are major factors fueling the demand for radar systems. The application of radar-based sensors in automobiles, railways, and airplanes is also witnessing a surge. These sensors offer advantages such as flexible mounting, resistance to extreme weather conditions, and long-range detection, leading to mass production of radars. The growth in international sea trade and the transportation of high volumes of goods have prompted countries to augment their fleet size and merchant vessels, fostering the need for radar tracking systems. On the other hand, airports with high passenger and cargo volumes are increasingly adopting surveillance radar systems to ensure the safety of passengers and cargo. As a result, airport operators are focusing on improving runway safety systems and deploying radio detection systems to enhance the control of passenger and cargo movement. The current geopolitical landscape in both developing and developed countries presents favorable investment opportunities for manufacturers to expand their product portfolios, creating new market prospects. Furthermore, the introduction of Advanced Driver Assistance Systems (ADAS) in cars and electric vehicles is a key driver of market growth. However, challenges such as technical incompatibilities between transmitter power and antenna size often result in subpar performance. Additionally, radar systems may face issues such as high receiver noise and poor sensitivity, affecting their overall performance. Nonetheless, technological innovations, coupled with increased defense budgets, are expected to provide opportunities for the development of advanced detection systems to address these technical challenges.
Global Market Size
USD 32.60 billion
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Global Radar Market is segmented by type, application, and region. Based on type, the market can be segmented into ground-based radar and airborne radar. Based on application, the market is segmented into defense and military, and automotive. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Radar Market Analysis by Type
By type, the market can be segmented into ground-based radar, and airborne radar. Ground-Based Radar refers to radar systems that are deployed on the ground for various applications such as air defense, surveillance, and weather monitoring. This segment of the radar market has been dominant and continues to hold a significant share due to its wide range of applications and established infrastructure. Ground-based radar systems are extensively used in military operations for early warning systems, target tracking, and battlefield surveillance, which contributes to their dominance in the market.
Airborne Radar refers to radar systems installed on aircraft for applications such as air traffic control, weather avoidance, military surveillance, and navigation. This segment of the radar market has witnessed significant growth in recent years, driven by technological advancements, increasing aircraft production, and the rising demand for safety and situational awareness in aviation.
Radar Market Analysis by Application
By application, the market can be segmented into defense and military, and automotive. The defense and military application segment dominated the global market. Radar systems play a critical role in defense and military operations, providing essential capabilities such as surveillance, target detection, tracking, and missile guidance. These radar systems are utilized for air defense, border security, maritime surveillance, and battlefield awareness. With ongoing geopolitical tensions and increasing defense budgets worldwide, the demand for radar systems in the defense and military sector remains high. Governments and defense organizations continue to invest in advanced radar technologies to enhance their situational awareness, threat detection, and response capabilities, reinforcing the dominance of this segment in the market.
On the other hand, the automotive application segment is one of the fastest-growing segments in the radar market. The rapid advancement of autonomous driving technologies and the increasing focus on vehicle safety have propelled the demand for radar systems in the automotive sector. Radar sensors, integrated into vehicles, enable crucial functionalities such as collision avoidance, adaptive cruise control, blind-spot detection, and pedestrian detection. These radar-based safety features enhance driver assistance systems and contribute to improving road safety.
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North America dominated the global radar market due to its advanced defense capabilities, technological advancements, and substantial defense budgets. The region is home to major radar manufacturers, research institutions, and defense contractors, contributing to its market dominance. The United States, in particular, holds a significant share in the North American radar market, owing to its robust defense infrastructure and ongoing modernization programs.
The Asia-Pacific (APAC) region is witnessing significant growth in the radar market, driven by factors such as rapid economic development, increasing defense expenditures, and ongoing geopolitical tensions. Countries like China, India, and Japan are major contributors to the market growth in this region.
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Radar Market Drivers
Increasing emphasis on safety and security measures
Radar Market Restraints
Technical challenges associated with radar systems
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Global radar market is characterized by intense competition and a diverse range of players offering radar-based solutions. Numerous companies, including established manufacturers, emerging startups, and technology giants, contribute to the market's competitiveness. These players constantly strive to innovate and differentiate their products by improving radar performance, enhancing features, and expanding application areas. Market competition also drives collaboration and partnerships among industry participants to leverage each other's strengths and capabilities. Additionally, factors such as product pricing, customer support, and aftersales services play a crucial role in determining the competitive positioning of companies in the radar market.
Radar Market Top Player’s Company Profiles
Radar Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global radar market analysis, the market is experiencing significant growth driven by factors such as technological advancements, increasing defense budgets, and growing safety concerns. Radar systems find extensive applications in defense, aviation, maritime, and automotive sectors. The market is dominated by key players from various countries, offering competitive solutions and driving innovation. Moreover, the integration of advanced technologies like AI and ML is revolutionizing radar capabilities. However, challenges such as technical limitations and compatibility issues persist. Despite these restraints, the radar market is poised for expansion, fueled by the rising demand for security, surveillance, and detection solutions worldwide.
|Market size value in 2021||USD 32.60 billion|
|Market size value in 2030||USD 33.31 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Radar Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Radar Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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