Surveillance Radars Market Size, Share, Growth Analysis, By Type(Land - Based Surveillance Radars, Airborne Surveillance Radars), By Application(Military and Defense, Homeland Security and Commercial.) - Industry Forecast 2024-2031

Surveillance Radars Market size was valued at USD 8.9 Billion in 2022 and is poised to grow from USD 9.83 billion in 2023 to USD 21.86 Billion by 2031, at a CAGR of 10.5% during the forecast period (2024-2031).

The surveillance radars market is highly competitive and characterised by the presence of several key players offering a diverse range of products and services. These players compete in terms of technological advancements, product innovation, pricing strategies, and geographical reach to gain a competitive edge in the market. This competitive landscape overview provides a general understanding of the market dynamics without mentioning specific company names. The market players in the surveillance radars market focus on research and development activities to introduce advanced radar systems that cater to the evolving needs of defence and security agencies. Technological advancements, such as the integration of radar systems with other sensor technologies and the adoption of artificial intelligence and machine learning algorithms, have become key areas of focus. These advancements aim to enhance radar capabilities in terms of detection accuracy, range, resolution, and target tracking capabilities. 'Lockheed Martin Corporation (US)', 'Raytheon Technologies Corporation (US)', 'Thales Group (France)', 'Saab AB (Sweden)', 'Northrop Grumman Corporation (US)', 'Hensoldt AG (Germany)', 'Leonardo S.p.A. (Italy)', 'BAE Systems plc (UK)', 'Airbus SE (Netherlands)', 'Israel Aerospace Industries Ltd. (Israel)', 'Harris Corporation (US)', 'Rheinmetall AG (Germany)', 'General Dynamics Corporation (US)', 'Mitsubishi Electric Corporation (Japan)', 'L3 Harris Technologies, Inc. (US)', 'SRC, Inc. (US)', 'Elbit Systems Ltd. (Israel)', 'Indra Sistemas S.A. (Spain)', 'Bharat Electronics Limited (India)', 'ASELSAN A.Ş. (Turkey)'

Escalating Security Concerns: The rising apprehensions pertaining to security, encompassing issues like terrorism, border disputes, and illicit activities, are propelling the demand for surveillance radars. To bolster their surveillance capabilities and safeguard national security, governments and defence agencies are increasingly investing in advanced radar systems.

One notable trend is the increasing demand for advanced surveillance radars to enhance situational awareness and security across various sectors. With the rise in security threats, both conventional and unconventional, governments and defence organisations are investing in modernising their surveillance capabilities. This has led to the development of radar systems with improved capabilities, such as longer detection ranges, higher accuracy, and enhanced target tracking capabilities.

In terms of dominance, North America emerges as the most dominant region in the surveillance radars market. This dominance can be attributed to several factors, including the presence of key market players, strong defence and security infrastructure, and high investments in military modernization programs. The US, in particular, accounts for a significant market share in North America due to its robust defence spending and the implementation of advanced surveillance technologies across its defence sector.