Radar Global Market Report 2024

Radar is a system that emits radio waves and analyzes their reflections for display. These devices utilize radio transmitters and receivers to detect and locate objects by processing reflected waves. Equipped with electromagnetic sensors, radar systems detect, track, and identify various objects within the atmosphere, including aircraft, spacecraft, ships, insects, and birds.

Distinct types of radars include detection and search radars, targeting radars, weather-sensing radars, navigational radars, and mapping radars. Detection and search radars are designed to search for targets within a specific volume and slant range in a predetermined duration. Widely used in aircraft and surveillance applications, these radars employ wide beam antenna patterns to scan for targets. Key components of a radar system comprise the antenna, transmitter, and receiver. Radars vary in their range, spanning long, medium, and short ranges. They find applications in military operations, aviation, weather forecasting, and ground traffic control.

The radar market research report is one of a series of new reports from The Business Research Company that provides radar market statistics, including radar industry global market size, regional shares, competitors with a radar market share, detailed radar market segments, market trends and opportunities, and any further data you may need to thrive in the radar industry. This radar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The radar market size has grown rapidly in recent years. It will grow from $31.71 billion in 2023 to $34.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth observed in the historical period can be attributed to several key factors. These include advancements in military modernization efforts, upgrades in air traffic control (ATC) systems, developments in weather monitoring and prediction technologies, enhancements in maritime security measures, and the implementation of automotive radar systems for collision avoidance in vehicles. These combined factors have significantly contributed to the growth and utilization of radar technology during the historical period.

The radar market size is expected to see rapidly grown in the next few years. It will grow to $49.94 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The anticipated growth in the forecast period is expected to be driven by several key factors. These include the development and deployment of next-generation military radar systems, the expansion of 5G networks impacting radar technology, increased focus on environmental monitoring leveraging radar capabilities, integration of radar systems into autonomous vehicles, and enhanced tracking of space debris.

The growth of the radar market is directly linked to the expanding global seaborne trade. Seaborne trade offers cost-efficient transportation of goods through sea routes, prompting an increased volume of trade and services worldwide. Radar systems, crucial for navigation, identifying landmasses, and detecting various entities like boats, birds, and weather systems, witness a surge in demand. As reported by the United Nations Conference on Trade and Development (UNCTD) in January 2023, global maritime trade witnessed a 3.2% increase in shipments, totaling 11 billion tons in 2021. This marked a substantial upturn of 7 percentage points compared to 2020 figures. Therefore, the escalating seaborne trade is poised to fuel the radar market.

The rise in geopolitical tensions is projected to drive the growth of the radar market. These tensions, often stemming from conflicts or disputes among nations, drive governments and defense organizations to invest in advanced radar systems for heightened security measures. Radars become instrumental in border security, military modernization, and safeguarding critical infrastructure. Geopolitical uncertainties lead to strategic alliances, intensifying defense spending at national and global levels, ultimately bolstering the demand for radar systems. For example, as reported by The Armed Conflict Location & Event Data Project (ACLED) in March 2022, there was a 12% increase in political violence targeting civilians, rising from 33,331 events in 2020 to 37,185 events in 2021, with a concurrent 8% surge in civilian fatalities. Hence, escalating geopolitical tensions drive the demand for airport and marine port security systems, contributing to the radar market's growth.

Technological innovation emerges as a prominent trend shaping the radar market. Radars, instrumental in detecting various entities in the air, land, and sea, witness a surge in demand for advanced systems like active electronically scanned array (AESA) radars. These systems offer superior target power, spatial resolution, and robustness compared to conventional counterparts. Major industry players focus on technological advancements to maintain their market positions. For instance, in September 2021, Raytheon Intelligence & Space launched a lightweight AESA radar boasting the power of a heavyweight AESA fire control radar while maintaining a compact form. This innovative radar leverages Gallium Nitride technology and intelligent packaging for enhanced performance.

Major players in the radar market are investing in developing passive radar systems to gain a competitive advantage. Passive radar, relying on receiving reflections of radio signals rather than emitting its own, tracks objects effectively. For example, in August 2023, Hensoldt AG introduced Twinvis Military Sheltered, a deployable variant of its passive radar system designed for long-range aerial surveillance. This radar, integrated into a containerized shelter, facilitates easy deployment and dismantling by a minimal number of personnel. Operating by analyzing signals from third-party emitters, Twinvis tracks aerial targets without emitting radar signals, allowing real-time monitoring of up to 200 aircraft or UAVs within a 250 km radius, enabling effective aerial surveillance.

In November 2021, Ambarella, a semiconductor company based in the United States, completed the acquisition of Oculii for $307.5 million. This strategic move is intended to fortify Ambarella's position in the radar perception market, enhancing its existing edge AI CV perception SoCs (System on Chips) for automotive and IoT endpoint applications. The addition of Oculii's expertise in AI radar solutions further diversifies Ambarella's capabilities, catering to sectors like mobile robotics and security within automotive and IoT industries.

Major companies operating in the radar market report are Lockheed Martin Corporation, BAE Systems PLC, Saab AB, L3Harris Technologies Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation., Thales Group, Leonardo S.p.A., L3 Technologies Inc., Rheinmetall AG, General Dynamics Corporation, Airbus SE, Honeywell International Inc., Israel Aerospace Industries Ltd., Mitsubishi Electric Corporation, Kelvin Hughes Limited, SRC Inc., ASELSAN Elektronik Sanayi ve Ticaret A.S., Terma A/S, RADA Electronic Industries Ltd., HENSOLDT UK, ELTA Systems Ltd., Mercury Systems Inc., Reutech Radar Systems (Pty) Ltd., DeTect Inc., DRS Technologies Inc., Echodyne Corporation, Blighter Surveillance Systems, Robin Radar Systems B.V.

North America was the largest region in the radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in the radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

The countries covered in the radar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The radar market consists of sales of airborne, ground-based, naval and space-based radars. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Radar Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on radar market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for radar? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The radar market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Type: Detection And Search; Targeting Radars; Weather Sensing Radars; Navigational Radars; Mapping Radars; Other Types
• 2) By Component: Antenna; Transmitter; Receiver; Other Components
• 3) By Range: Long; Medium; Short
• 4) By End Use: Military; Aviation; Weather Forecast; Ground Traffic Control; Others End Uses
• Companies Mentioned: Lockheed Martin Corporation; BAE Systems plc; Saab AB; L3Harris Technologies Inc.; Northrop Grumman Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.