Forecast International Projects $15.8 Billion Sea-Based Radar Market over Next 10 Years

NEWTOWN, Conn., Aug. 15, 2019 (GLOBE NEWSWIRE) --

Forecast International has released its latest analysis of the naval radar market. "The Market for Naval Radar Systems" is a detailed study of 37 unique radar programs that as a group indicate the industry trends that will dictate growth and shrinkage in the larger naval radar market over the forecast period of 2019 through 2028.

In the analysis, Forecast International breaks the market down into seven segments: Air Defense, Electronic Countermeasures, Fire Control, Navigation, Search & Track, Surveillance, and Other. The programs comprising the Air Defense segment will be worth $7.902 billion alone, making it the most valuable market segment.

Over the next 10 years, Forecast International estimates that the programs covered in the study will have a total value of at least $15.814 billion. From 2019 through 2028, the Production phase will be the most valuable: 1,278 radars are forecast to be produced, accounting for $10.073 billion of the overall market, or 63.7 percent.  The remaining value is accounted for by the Pre-Production (RDT&E) and Post-Production (O&M) phases.

Some of the naval radar industry's most exciting next-generation systems, such as the SPY-6 Air and Missile Defense Radar (AMDR), are explored, as are older but still valuable systems such as the SPY‑1. Over the coming 10 years, next-gen systems will garner sizable amounts of pre-production (RDT&E) funding, while older systems, which require regular maintenance and upgrades to maintain their efficacy, will draw large amounts of post-production (O&M) funding.

The analysis also takes a look at the top companies operating in the naval radar sector. The 15 prime contractors identified in the analysis, all of which are associated with the featured programs, are representative of the global naval radar market's most significant players. The leading contractors in the market will be Raytheon and Thales, which will achieve the first and second highest earnings, respectively. For added perspective, the analysis includes a Manufacturer Varies category that is useful for identifying programs that will offer subcontracting opportunities.

"Forecast International provides our customers with what we believe to be the most extensive program-focused market analysis available," said Senior Radar Analyst C. Zachary Hofer. "As much as is possible, Forecast International includes coverage of every major naval radar program in the world. Due to their foundational nature, these diverse programs, when analyzed as a sample group, provide a highly accurate barometer of the market environment."

About Forecast International

Forecast International, Inc. is a leading provider of Market Intelligence and Consulting in the areas of aerospace, defense, power systems and military electronics. Based in Newtown, Conn., USA, the company specializes in long-range industry forecasts and market assessments used by strategic planners, marketing professionals, military organizations, and governments worldwide. Forecast International also maintains a high posture of situational awareness and geopolitical analysis.


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