PUBLISHER: Grand View Research | PRODUCT CODE: 1575125
PUBLISHER: Grand View Research | PRODUCT CODE: 1575125
The global digital radar market size was estimated at USD 5.25 billion in 2023 and is expected to grow at a CAGR of 17.6% from 2024 to 2030. Technological advancements in signal processing, antenna design, and software algorithms have enabled the development of more sophisticated and capable digital radar systems, which is majorly contributing to the market growth. The increasing demand for surveillance and security applications, driven by factors such as terrorism, climate change, and border control concerns, is further fueling the market growth.
The digital radar market is witnessing considerable growth with the increasing demand across the defense sector. The integration of digital radar technology with other systems, such as command and control centers and intelligence platforms, has expanded its applications and enhanced its value proposition. Moreover, the growing focus on automation and unmanned systems has created new opportunities for digital radar technology in areas such as autonomous vehicles and drone operations.
The increasing government investments aimed at strengthening military capabilities with the adoption of advanced technologies is opening remunerative growth avenues for digital radar industry. For instance, in August 2024, Saab AB received a nearly USD 68 million order from the Swedish Defence Materiel Administration for the Giraffe 1X radar. The order includes Giraffe 1X radar, integration to Swedish Ground Based Air Defence (GBAD) solutions, and required command and control systems.
The ongoing expansion of the automotive sector is significantly contributing to the market growth on account of the advancements in vehicle safety and driver assistance systems. Radar sensors are used in a variety of automotive applications, including adaptive cruise control, blind spot monitoring, and lane departure warning systems. As the automotive industry continues to prioritize safety and autonomous driving technologies, the demand for advanced digital radar systems is expected to grow further, favoring the market expansion over the foreseeable future.
Global Digital Radar Market Report Segmentation
This report forecasts and estimates revenue growth at the global, regional, and country levels along with analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global digital radar market report based on type, dimension, application, end use, and region: