PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1339923
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1339923
According to Stratistics MRC, the Global Surveillance Radar Market is accounted for $10.0 billion in 2023 and is expected to reach $22.83 billion by 2030 growing at a CAGR of 12.5% during the forecast period. A Radars main purpose is to scan 360° in azimuth and reporting the range and azimuth of the aircraft within its range. Surveillance radars offer azimuth and elevation data, and when used with secondary surveillance radar (SSR), it is feasible to establish identity and give separation, navigational support, storm warning, and even vectoring of the aircraft into the final approach. Ground radar is used for traffic-control purposes in the approach and landing zone. It helps controllers position aircraft so that they can make low approaches using a fixed-beam, low-approach system or by using a precision radar low-approach system.
According to the Stockholm International Peace Research Institute (SIPRI), despite the pandemic, global defense spending reached USD 1981 billion in 2020. The investments in airport surveillance infrastructure, by the government and airport operators, for complications, like drone intrusion into the airspace increased drastically.
Defense forces are increasingly requesting technologically superior fighting equipment. While governments throughout the globe concentrate on developing stealth aircraft, they simultaneously make significant investments in cutting-edge surveillance systems to counter stealth technology. Technology like quantum radars and their potential for spying is the subject of research. Low-signature designs and materials that absorb radar waves have no impact on them. These radars can be used in missile defense and space exploration in the future since they cannot be tricked by conventional radar-jamming techniques.
Defense firms must abide by a number of laws and standards that have been established by their individual governments on the selling of goods and services. Serious repercussions, such as the enforcement of fines and penalties, the termination of the entire contract, and civil or criminal investigations, might follow a violation of any regulation. Terrorists may be able to develop weapons using cutting-edge technology through the reverse engineering of weapons and systems, resulting in the loss of lives and property. Different penalties are applied to firms to limit the kinds and quantities of technology they can export to foreign nations in order to prevent such a situation from occurring. Trade connections between nations are strained by geopolitical turmoil hampering the growth of the market.
Airport radars are more popular and are used to lessen accidents. Radar technology is improving, making air travel safer and more effective. Governments have invested much in enhancing internal security, including the installation of very advanced airport radars. One of the key reasons propelling the expansion of the worldwide radars market is the construction of both new and existing airports. Airport radar systems have been quickly implemented in response to the rise in passenger jet traffic in order to reduce possible airport threats.
High operating efficiency, the use of cutting-edge technology, cross-platform interoperability, and a broad frequency range are all needed for radar. Radars can function in highly challenging conditions, and the failure of any piece of equipment on the battlefield might have disastrous consequences. Thales provided the French, Italian, and British Armies with S1850M radar probe supplies and support in January 2023. For the French, Italian, and British fleets, Thales has a service agreement with OCCAR (Organization for Joint Arms Cooperation). This new important service agreement has three-year duration with a possible extension of another two years.
The capacity of the world economy to recover from the COVID-19 epidemic has been hindered, at least temporarily, by the conflict between Russia and Ukraine. Economic sanctions from a number of nations, an increase in commodity prices, and supply chain disruptions that had an impact on many global markets were the results of the conflict between the two nations. A new approach to leveraging defense budget and procurement has been influenced by the conflict between Russia and Ukraine. India, China, Canada, Estonia, Iraq, Taiwan, and other countries have made building the required infrastructure for fending off rising threats a top priority for their defense budget which enhanced the growth of the market.
The digital signal processors segment is estimated to have a lucrative growth, due to digital signal processor functioning as a computer and handles all command and control tasks through signal processing. Systems employed analog signal processing methods in the past. Digital signal processors filters are better at controlling output accuracy than analog filters, and their digital implementation is less expensive. In an analog system, reconfiguration is challenging since it requires changing all of the hardware and its individual parts. At the same time, DSP reconfiguration is relatively simple and simply requires flashing code or a DSP program after modifications have been implemented as necessary which in turn enhances the growth of the market.
The defense & space segment is anticipated to witness the highest CAGR growth during the forecast period, due to the need for creating and deploying surveillance radars for use in law enforcement and military applications is being fuelled by rising military spending by various nations across the world as a result of international geopolitical concerns. Companies are creating and supplying innovative and cutting-edge solutions to meet the rising demand as a result of governments' consistent investments in bolstering their defense systems.
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising defense spending and a rise in the purchase of next-generation military radars from South Korea, China, and India. Rising spending on improving defense capabilities is a result of an increase in border conflicts, political tensions between nearby nations, and an increase in terrorism. Additionally, the region's rising territorial disputes highlight the need for improved monitoring systems throughout land and maritime boundaries. To attain these goals, countries are investing in the development and purchase of indigenous radar systems which encourages the growth of the market.
Europe is projected to have the highest CAGR over the forecast period, due to rising expenditures from the commercial and defense sectors, additionally; the UK surveillance radar market grew at the highest rate in the European Region, while the German surveillance radar business retained the greatest market share. Radar sensor market players will benefit from increased regional manufacturers' investments in infrastructure and manufacturing facilities modernization. Additionally, the rise in industrial automation will encourage market participants to create new sensor technologies and acquire a significant competitive edge.
Some of the key players profiled in the Surveillance Radar Market include: BAE Systems PLC, Raytheon Technologies Corporation, THALES, Saab AB, Leonardo S.p.A, Elbit Systems Ltd, HENSOLDT AG, Lockheed Martin Corporation, Northrop Grumman Corporation, L3 Harris Technologies Inc., Honeywell International, Israel Aerospace Industries Ltd, ASELSAN AS, FLIR Systems Ltd., Blighter Surveillance Systems Ltd, GEM Elettronica, Detect Inc. and EAselsan AS
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.