Surveillance Radars Market grows due to security needs, AI integration, and commercial applications, with increasing demand for advanced monitoring systems.

AUSTIN, TEXAS, UNITED STATES, February 22, 2024 /EINPresswire.com/ -- Surveillance Radars Market Overview:

The 𝐒𝐮𝐫𝐯𝐞𝐢𝐥𝐥𝐚𝐧𝐜𝐞 𝐑𝐚𝐝𝐚𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 is experiencing significant growth driven by increasing security concerns, border threats, and the need for advanced surveillance systems. Surveillance Radars play a crucial role in monitoring and detecting threats in various sectors, including defense, aerospace, and maritime. With the rising incidence of cross-border conflicts and terrorist activities, there is a growing demand for advanced Surveillance Radars that can provide real-time monitoring and tracking capabilities. Additionally, the integration of technologies such as artificial intelligence (AI) and cloud computing is enhancing the efficiency and accuracy of Surveillance Radars, further driving market growth. These advancements enable radars to detect and track multiple targets simultaneously, making them indispensable for modern defense and security operations.

Moreover, the increasing adoption of Surveillance Radars in commercial applications, such as weather monitoring, air traffic control, and wildlife conservation, is also contributing to market growth. Surveillance Radars are used to monitor weather patterns, detect aircraft, and track wildlife movement, providing valuable data for various industries. Furthermore, the development of radar systems with enhanced features, such as high-resolution imaging and long-range detection, is expanding their application scope. As a result, the Surveillance Radars Market is expected to witness significant growth in the coming years, driven by the increasing need for advanced surveillance systems across various sectors.

Major Key Players Included are:

• Thales Group
• Honeywell International Inc
• BAE Systems
• Israel Aerospace industries Ltd
• Leonardo S.P.A
• Lockheed Martin Corporation
• Raytheon Technologies
• Saab AB
• Elbit Systems Ltd
• FLIR Systems Ltd, and other players

Market Sizing Paragraph:

The Surveillance Radars Market has witnessed substantial growth, driven by technological advancements and increased defense spending globally. As of 2022, the market was valued at USD 9.54 million, with a projected market size of USD 17.52 million by 2030. The expected CAGR of 7.9% underscores the industry's vitality and potential for expansion.

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Market Report Scope

Key players in the Surveillance Radars Market, including Lockheed Martin Corporation, THALES, Leonardo SpA, Raytheon Technologies Corporation, and HENSOLDT AG, are shaping the landscape. The market, catering to both commercial and military applications, is characterized by innovative radar systems designed for various platforms. Ongoing investments in research and development, exemplified by HENSOLDT's agreement to provide the PrecISR radar to CAE Aviation, signify the industry's commitment to technological excellence.

Market Analysis

Despite challenges posed by the COVID-19 pandemic, the aerospace and defense sector remained resilient, with countries maintaining their defense budgets. The market thrived as global defense spending reached USD 1981 billion in 2020. Investments in airport surveillance infrastructure and the need to strengthen border security are propelling the demand for advanced Surveillance Radars. Geopolitical tensions, coupled with research and development initiatives, position market leaders for positive growth.

Segment Analysis

• The military segment dominates the Surveillance Radars Market, fueled by increasing global military expenditures and strategic investments in defense systems.
• Recent contracts, such as Indra Sistemas' USD 120 million contract for Germany's air Surveillance Radars and Bharat Electronics Limited's USD 37 million contract for the Indian Air Force, underscore the market's growth trajectory.

Market Segmentation & Sub-segmentation included are:

By Platform
• Land
• Airborne
• Naval
• Space

By Component
• Antennas
• Transmitters
• Duplexer
• Power Amplifiers
• Receivers
• Signal Processors
• Cameras
• Others

By Application
• Commercial
• National Security
• Defense
• Space

By Radar Type
• Short Range Surveillance Radar
• Medium Range Surveillance Radar
• Long-Range Surveillance

Growth Factors

• Innovation and technological advancements often lead to the development of new products, services, and processes, driving growth in industries. Embracing cutting-edge technologies can provide a competitive edge.
• Understanding and meeting consumer needs and preferences are crucial for sustained growth. A strong demand for products or services is a positive indicator that can drive expansion.
• Increased international trade and globalization can open up new markets and opportunities for businesses. Access to a global market allows companies to diversify and tap into a broader consumer base.

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Key Regional Development

Asia Pacific emerges as a focal point for market growth, driven by escalating defense expenditures and procurement of next-generation military radars in China, India, and South Korea. The region's airport construction plans, coupled with heightened geopolitical tensions, are propelling the demand for Surveillance Radars. Ongoing territorial issues and indigenous radar development initiatives contribute to the region's dominance.

Key Takeaways

• Surveillance Radars Market anticipates remarkable growth, exceeding USD 17.52 million by 2030.
• Global defense spending resilience amid the COVID-19 pandemic sustains market stability.
• Technological advancements and rising geopolitical tensions drive market expansion.

Recent Developments

In January 2023: Raytheon Missiles & Defense Systems secured a USD 412.6 million contract for the Taiwan Surveillance Radar Program.

In September 2022: Kongsberg Defence & Aerospace and Lockheed Martin collaborated on the Norwegian Radar Sensor (NORSE) Project.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Surveillance Radars Market Segmentation, by Platform

9. Surveillance Radars Market Segmentation, by Component

10. Surveillance Radars Market Segmentation, by Application

11. Surveillance Radars Market Segmentation, by Radar Type

12. Regional Analysis

13. Company Profiles

14. Competitive Landscape

15. Conclusion

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