Global Radar Systems Market Size Is Envisions 6.41% CAGR, Reaching USD 36.46 Billion by 2030 | Pioneering Surveillance

New York, NY, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Radar Systems Market By Platform (Unmanned, Air, Land, Marine, And Space), By Application (Defense, National Security, And Commercial), By Type (S-Band And X-Band), By Component (Duplexer, Transmitter, Waveguide, Receiver, Antenna, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global  Radar Systems Market size & share in terms of revenue was valued at USD 22.15 billion in 2022 and it is expected to surpass around USD 36.46 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.41% during the forecast period 2023 to 2030.”

What are Radar Systems? How big is the Radar Systems Industry?

Report Overview:

The global radar systems market size was worth around USD 22.15 billion in 2022 and is predicted to grow to around USD 36.46 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.41% between 2023 and 2030.

A radar is an electromagnetic device that aids in the detection, location, tracking, and recognition of practically any type of object that is positioned at a particular distance. Radars can detect, locate, track, and identify almost anything. It performs its functions by means of electromagnetic energy, which it then sends in the direction of the target or item. Through the process of registering and analysing the echoes that are sent back from the target, it is also able to calculate the precise distance that separates the point of observation from the target. This covers items like astronomical bodies, spaceships, satellites, rain, insects, ships, and nearly everything else that may be observed in the surrounding environment. One of the most important distinctions that can be made between radar systems and other types of object-sensing technologies such as infrared and optical sensors is the ranges over which radar systems are able to accurately detect objects in spite of adverse weather conditions. Active sensing technologies are what radar systems are all about. This indicates that they are armed with the illumination source that is necessary for targeting specific things. During the time period covered by the prediction, the radar systems industry is expected to offer massive expansion potential.

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Global Radar Systems Market: Growth Factors

Acceleration of research and development (R&D) efforts in the area of radar systems technology to fuel expansion of the market

The increasing rate of investments in the research and development of new radar technology is one factor that is likely to contribute to the expansion of the worldwide radar systems market. Several producers of radar systems have increased their efforts towards the development of advanced systems in order to stay ahead of their competitors and meet the rising demand for advanced systems, particularly location-sensing devices, which is being driven by shifting geopolitical partnerships across the globe.

These technologies include, but are not limited to, Active Electronically Steered Array (AESA) radar, Digital Bean Forming (DBF) technologies, Multiple Inputs Multiple Output (MIMO) systems, and Passive Coherent Location Radar (PCLR) Systems. These many technologies each have their own unique uses as well as benefits. For example, the DBF system can be utilised to provide greater angular resolution without the need to mechanically adjust portions of the radar system. This is made possible because the DBF system is completely software-based. In a similar vein, the MIMO technology has demonstrated its applicability in the correct synthesis of many digital receiver beams, which, in turn, contributes to lower noise figures and improved signal discernment.

Expanding our strategic alliances across international borders to fuel our further growth

As a result of the increasing trend of strategic alliances that span international boundaries, there is tremendous room for expansion for businesses that are currently operating in the radar systems industry. The Indian Space Research Organisation (ISRO) made the announcement in March 2023 that the National Aeronautics and Space Administration (NASA), the United States space agency, had delivered the NASA-ISRO SAR (NISAR) satellite. This satellite is a product of a collaborative effort between India and the United States of America. Along with its other components, NISAR is widely recognised as the most cutting-edge radar system in existence at the present time. This is mostly due to the fact that it is outfitted with the largest radar antenna.

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Report Scope

Radar Systems Market: Segmentation Analysis

The radar systems market across the globe may be broken down into several categories: platform, application, type, component, and region.

Unmanned, air, land, marine, and space platforms make up the five different segments of the global market, respectively. Because these devices are utilised for tracking maritime operations such as offshore patrol vessels, submarines, warships, and others, the marine sector of the market is anticipated to experience the fastest growth rate throughout the forecast period. They are extremely efficient in identifying any impediments on the ground, which assists in the prevention of collisions. The expansion of international trade that takes place on water, an increase in the number of commercial applications for marine radars, and heightened tensions on offshore boundaries may lead to an increase in demand for marine radar systems. The Relocatable Over-the-Horizon Radar, or AN/TPS-71 ROTHR, system that is used by the United States Navy has a range of between 500 and 1,600 nautical miles.

There are three primary application categories that divide the radar systems sector into three distinct segments: commercial, national security, and defence. Due to expanding applications in domains such as perimeter security, air defence, military space asset management & safety, and battlefield surveillance, the defence industry is projected to experience the fastest growth rate in 2022. As social and political tensions throughout the world continue to escalate, the governments of the region are looking into methods that would assist them in improving their defensive capabilities. In light of the dangers posed by North Korea and China, Japan declared in December 2022 that it would increase its defence budget to USD 55 billion, making it the nation's highest expenditure ever allotted for defence purposes.

S-band and x-band are the two segments that make up the global market according to the frequency band. At the moment, the X-band category is the most dominant player in the market. They have a greater target resolution and are utilised for a variety of purposes, including defence tracking, monitoring the weather, and controlling the flow of maritime vessels, to mention a few. Long-range detection is one of the many specialised applications for the S-band frequency spectrum. Wi-Fi networks make use of S-bands because these bands may continue to function normally even in adverse climatic circumstances. The S-band operates at frequencies ranging from 2 to 4 gigahertz (GHz) in the frequency spectrum.

The duplexer, transmitter, waveguide, receiver, antenna, and other subcategories make up the various component-based subindustries that make up the radar systems industry. The antenna segment will lead the pack and take the lion's share of the market because antennas are the most essential component of the whole system. Through the use of the antennas, the energy that is produced by the transmitter can be transmitted. Antennas in the form of a parabolic dish are currently the most common type. It is anticipated that growing research, increasing investments for the development of advanced broadcasting systems, and an increase in the usage of information broadcasting would all contribute in the expansion of particular segments.

The global Radar Systems market is segmented as follows:

By Platform

• Unmanned
• Air
• Land
• Marine
• Space

By Application

• Defense
• National Security
• Commercial

By Type

• S-Band
• X-Band

By Component

• Duplexer
• Transmitter
• Waveguide
• Receiver
• Antenna
• Others

Browse the full “Radar Systems Market By Platform (Unmanned, Air, Land, Marine, And Space), By Application (Defense, National Security, And Commercial), By Type (S-Band And X-Band), By Component (Duplexer, Transmitter, Waveguide, Receiver, Antenna, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/radar-systems-market

Competitive Landscape

Some of the main competitors dominating the global Radar Systems market include - 

• Israel Aerospace Industries Ltd.
• Raytheon Technologies Corporation
• Northrop Grumman Corporation
• Lockheed Martin Corporation
• Leonardo S.p.A.
• Thales Group
• Indra Sistemas S.A.
• BAE Systems plc
• L3Harris Technologies Inc.
• SAAB AB
• Rheinmetall AG
• HENSOLDT AG
• RADA Electronic Industries Ltd.
• Mitsubishi Electric Corporation
• Harris Corporation
• Reutech Radar Systems
• Kelvin Hughes Limited.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Radar Systems market is likely to expand at a CAGR of around 6.41% during the forecast period (2023-2030).                  
• In terms of revenue, the Radar Systems market size was valued at around US$ 22.15 billion in 2022 and is projected to reach US$ 36.46 billion by 2030.
• The radar systems market is projected to grow at a significant rate due to the growing demand for sustainable packaging.
• Based on platform segmentation, the marine was predicted to show maximum market share in the year 2022.
• Based on component segmentation, the antenna was the leading component in 2022.
• On the basis of region, North America was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Radar Systems industry?
• What are the main driving factors propelling the Radar Systems Market forward?
• What are the leading companies in the Radar Systems Industry?
• What segments does the Radar Systems Market cover?
• How can I receive a free copy of the Radar Systems Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Platform, By Application, By Type, By Component, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is the current market leader with considerable market share

The global radar systems market is currently led by North America with the US acting as the most crucial partner. During the forecast period, the country may continue to hold its dominance primarily due to the presence of a highly advanced defense infrastructure in the US. The country invests heavily in radar-based systems for national security and defense purposes. Moreover, it is one of the largest defense-technology trading partners for several developing nations and is currently working on several projects to become strategic partners with more nations including India. Some of the largest manufacturers of defense and communication systems that supply products globally are located in the US. In October 2022, the US Army successfully managed to generate tracking data using the Q-53 radar developed by Lockheed Martin. The data generated can be used to launch a counter-unmanned aerial system or C-UAS defeat system.

Asia-Pacific is expected to grow at its highest CAGR as compared to the last few years with India and China contributing to the regional growth. The latter has recently invented a new radar system with artificial intelligence (AI). The technology is deemed to be at par with its Western counterparts.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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