(MENAFN- America News Hour) Ongoing military modernizations need for advanced air defense systems, need for border surveillance systems among others are expected to fuel the growth of the surveillance radars market across the globe.
The
surveillance radars market
is projected to grow from USD 8.3 billion in 2023 to USD 11.9 billion by 2033, at a CAGR of 6.3% from 2023-2033.
Some of the factors that are expected to fuel the growth of the surveillance radars market are the rising need for advanced surveillance radars to detect stealth aircraft and surveillance radars with electronic warfare countermeasures.
The airborne segment is estimated to grow at the largest share during the forecast period due to the increasing demand for airborne surveillance radars for intelligence, surveillance, and reconnaissance (ISR).
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Based on the platform, the airborne segment is estimated to grow at the largest share during the forecast period due to the ongoing radar modernization programs by countries. The use of airborne radars for intelligence, surveillance, and reconnaissance (ISR) are increasing globally. Air-to-surface and air-to-air surveillance are vital for gathering information on enemy locations, targets, and possible threats. Airborne surveillance allows for better battlefield surveillance. Various countries, such as the US, Canada, and India, have upgraded their airborne surveillance capabilities to include modern 3D surveillance radars.
The defense & space segment is expected to lead the surveillance radars market in 2023.
Based on application, the defense & space segment is estimated to account for the largest share of the surveillance radars market in 2023. The need for modern surveillance systems for border protection, ISR, and battlefield management are driving the demand for surveillance radars in the defense & space segment. Modern surveillance radars are linked to battlefield management systems which enable commanders to take strategic, tactical decisions after analyzing the situation from a 360-degree angle. Surveillance radars provide vital information about the location and strength of enemy troops.
The X-band segment is expected to grow at the highest CAGR during the forecast period
Based on the frequency band, the X-band segment is estimated to grow at the highest CAGR during the forecast period. X-Bands are reserved for government and military applications only. X-Bands are the most commonly used frequency for military surveillance radars due to its ability to provide better target resolution. X-bands are widely adopted in marine radars. X-band antennas are relatively smaller, and can be installed on smaller vehicles, and is one of the reasons why it is preferred.
The North American region is estimated to account for the largest share of the surveillance radars market in 2023.
The North American region is expected to lead the surveillance radars market in 2023. The market in the region is highly competitive, owing to the presence of a large number of Original Component Manufacturers (OCMs) and Original Equipment Manufacturers (OEMs) such as L3Harris, Raytheon Company, and Blighter Surveillance Systems, among others. Increase in development of surveillance towers across the US-Mexico border is expected to drive the growth of the Surveillance Radars Market in North America during the forecast period.
The break-up of the profiles of primary participants in the Surveillance Radars Market is as follows:
. By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%
. By Designation: C Level Executives–35%; Directors–25%; and Others–40%
. By Region: North America–45%; Europe–20%; Asia Pacific–30%; and the Middle East & Africa, and South America–5%
Major players operating in the surveillance radars market are Aselsan A/S (Turkey), FLIR Systems, Inc. (US), Lockheed Martin Corporation (US), Hensoldt (Germany), Raytheon Company (US), Saab AB (Sweden), Thales Group (France), Israel Aerospace Industries Ltd. (Israel), L3Harris (US), Elbit Systems Ltd. (Israel), and Leonardo S.p.A (Italy) among others.
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Research Coverage
This market study covers the surveillance radars market across various segments and subsegments. It aims at estimating the market size and growth potential of this market across different segments based on component, application, platform, dimension, type, frequency band, range, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall surveillance radars market and its segments. This study is also expected to provide region wise information about the applications, wherein surveillance radars are used. This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
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