DUBLIN, July 18, 2023 /PRNewswire/ — The “Surveillance Radars Market Share, Size, Trends, Industry Analysis Report, By Application Type, By Platform, By Component, By Range, By Region, Segment Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.
The global surveillance radars market size is expected to reach USD 18.65 billion by 2032
The number of contracts between important defense businesses and the government has increased to upgrade military equipment such as tactical radar systems, mobile tactics, light weapons, modern military antennas, and others. In July 2022, The Australian Government invested $2.7 billion in the new Joint Air Battle Management System for Defense, and as part of that investment, CEA Technologies is constructing four new Air Defence radars.
The new sensors will be able to identify aircraft and missile threats at a broad range and with higher accuracy than existing current systems, providing essential real-time information and more time for warning, decision, and reaction. Additionally, the military is using more sophisticated surveillance radar technology. As a result, the market for surveillance radars is anticipated to increase quickly throughout the given time frame.
Furthermore, the increasing defense expenditures and the rapid advancements in Border Surveillance Systems are boosting the market growth. Better airborne surveillance has been highlighted as a crucial requirement, and the Irish government intends to increase yearly defense spending by 40% to €1.5 billion by 2028, although no definite procurement choices have been made.
As a result, the market is growing due to rising demand for defense surveillance over weak and attack-prone borders, increasing defense spending by emerging economies, advancing terrorism, and ongoing international conflicts.
Additionally, with the rising demand for missile detection systems and their upgradation, the key players are supporting the market to grow. In January 2023, Raytheon Technologies Corp will maintain and upgrade Taiwan’s long-range missile defense radar system.
To offer logistics support, engineering services, technical updates, replacement parts, and other assistance under the Taiwan Surveillance Radar Program, the U.S. Air Force Life Cycle Management Center has awarded a USD 412.6 million contract to the Raytheon Missiles & Defense business.
Ballistic missiles, cruise missiles, regular military planes, and stealth fighters may all be found and tracked with the technology. Thus, the missile detection system for the defense sector is driving the market’s growth.
Surveillance Radars Market Report Highlights
- The commercial segment is anticipated to grow at a significant CAGR over the forecast period due to the increased need for replacing outdated radar-based air traffic control systems with more modern ones,
- The land segment accounted for considerable revenue share. The main purposes of land-based radar systems are border surveillance, vital infrastructure security, and base defense.
- The largest share of the airborne radar systems segment is anticipated during the forecast period. Helicopters, aerostats, and unmanned aerial vehicles are used in airborne radar systems.
- Asia-Pacific is expected to grow at a fastest CAGR over the projected period due to rising defense spending on naval and land-based military equipment.
Market Dynamics
Drivers and Opportunities
- Demand for modernizing conventional military equipment
- Rise in new aircraft orders and the requirement for military aircraft
Restraints and Challenges
- Regulatory challenges for sales to overseas customers
Porter’s Five Forces Analysis
PESTLE Analysis
Surveillance Radars Industry Trends
Value Chain Analysis
COVID-19 Impact Analysis
Company Profiles
- Aselsan AS
- Blighter Surveillance Systems Ltd.
- BAE Systems
- DeTect Inc.
- GEM Elettronica Inc.
- Elbit Systems Pvt Ltd.
- FLIR Systems Ltd.
- Honeywell International Inc.
- Harris Corporation
- Israel Aerospace Industries Ltd
- Lockheed Martin Corporation
- Leonardo S.P.A
- Raytheon Technologies Incorporation
- Saab AB
- Thales Group
Scope of the Report
Surveillance Radars, Application Outlook (Revenue – USD Billion, 2019 – 2032)
- Commercial
- National Security
- Military & Defense
- Perimeter security
- ISR
- Hostile Satellites
- Aerospace
- Maritime
- Other
Surveillance Radars, Platform Channel Outlook (Revenue – USD Billion, 2019 – 2032)
- Land
- Airborne
- Naval
- Space
- Submarines
- Combat aircrafts
- Unmanned Surface Vehicles
- Unmanned Aerial Vehicles
- Aerostats
Surveillance Radars, Component Outlook (Revenue – USD Billion, 2019 – 2032)
- Antennas
- Transmitters
- Duplexers
- Power Amplifiers
- Receivers
- Signal Processors
- Cameras
- Others
Surveillance Radars, Range Outlook (Revenue – USD Billion, 2019 – 2032)
- Short Range Surveillance Radar
- Medium Range Surveillance Radar
- Long-Range Surveillance
Surveillance Radars, Regional Outlook (Revenue – USD Billion, 2019 – 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/yuj8ob
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