The global Radar market gathered revenue around USD 30.1 Billion in 2020 and market is set to grow USD 43.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 5.1% during the prediction period 2021 to 2027.
Growth Factors:
The market Increasing deployments of radars and security related issues across the globe are driving the market growth. Additionally, the market is also witnessing healthy growth in demand due to the increase in sea trade and travel activities across the globe. They have been used for understanding path patterns, altitude, and migration path. Additionally, weather radar systems are used for monitoring changes in climate patterns.
Unlike earlier, now the deployment of radars is not limited to the military sector. These systems are now increasingly being adopted in air traffic control, remote sensing, ground traffic control, marine, and meteorological monitoring, among others. The growing adoption and deployment of radars in various sectors for different applications are anticipated to support the market growth over the forecast period.
The growth of the air travel industry is encouraging market players to offer airborne radars that operate between L and Ka bands. Short range targeting radars, particularly used for helicopters and tanks, function under the millimeter band. Long range, ground-based radars use lower frequencies and are increasingly being adopted for satellite communication applications. Additionally, a radar system reveals detailed information that is essential for flight operations in dense clouds and it can also be concluded that aircraft-based systems are witnessing high-scale deployment in order to enhance flight safety.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Radar market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Radar market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 43.7 Billion by 2027 |
| Growth Rate | CAR 5.1% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Segments Covered | Component, Service, Platform, Frequency Band, Range, End Use and Region |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Companies Mentioned | Lockheed Martin Corporation; Collins Aerospace; Saab AB; Honeywell International Inc.; General Dynamics Corporation; BAE Systems; Northrop Grumman Corporation; Raytheon Company; Thales Group. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Radar market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
The Asia Pacific region generated the second-highest revenue in 2020. The presence of several SMEs, manufacturing bases, increased radar technology adoption, and growing sea trade are expected to favor the development of radar systems in the region. Availability of funding and investments are expected to further contribute to the regional market growth. Research & development in the defense sector in Asia Pacific is a major ongoing trend. For instance, China has developed military radars that can detect all types of bombers and fighter jets.
North America is expected to witness high demand for radar systems. Quantum radar is being developed in Canada for enhancing the detection of stealth aircraft. This technology helps detect objects with greater accuracy as compared to the conventional systems. It is undergoing trial phases in the University of Waterloo and is expected to be launched by 2027.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Radar Market include: Lockheed Martin Corporation; Collins Aerospace; Saab AB; Honeywell International Inc.; General Dynamics Corporation; BAE Systems; Northrop Grumman Corporation; Raytheon Company; Thales Group.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Radar market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Radar market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Radar markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Radar market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers