Radar Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The radar market is expected to register a CAGR of 10.9% during 2023–2031. Demand for coastal surveillance and maritime security is likely to remain a key trend in the market.

Radar Market Analysis

• Due to several factors and applications in several industries, the radar market is growing and developing radically. Phased-array antennas are driving the solid-state radar market in terms of demand for long-range radar systems.
• In the aviation sector, radar systems are used to detect obstacles, provide weather information, and give altitude details accurately to the pilot. The radar market is becoming ever more diversified and dynamic, driven by developments in technology, an increasing demand in several domains, and the arrival of innovations making use of radar.

Radar Market Overview

• A radar is an electromagnetic sensor for detecting, locating, tracking, and recognizing different kinds of objects at considerable distances. The work is based on transmitting EM energy toward objects, usually referred to as targets, and observing the echoes returned from them. Targets include aircraft, ships, spacecraft, automotive vehicles, and astronomical bodies. Radar is an active sensing device; it is a location device with its source of illumination, a transmitter that always operates in the microwave region of the electromagnetic spectrum.
• One of the main principles that radar systems operate on is returning radio waves to calculate the distance and velocity of targets that they hit. They are composed of a transmitter to send out radio signals and a receiver to catch any reflected energy from targets.

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Radar Market: Strategic Insights

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Radar Market Drivers and Opportunities

Technological Advancements and Increased Applications

• It is the radar technology that is required for navigation, collision avoidance, and real-time area monitoring of unmanned aerial vehicles, thereby driving the growing demand for UAVs. This growth and diversification in the radar market are mainly driven by technological advancements and increased applications across various industries, therefore offering key opportunities to manufacturers and developers of radar systems.
• Radar technology makes a great contribution to enhancing the capabilities of these UAVs to fly through varying terrains, avoid potential accidents on obstacles or other aircraft, and monitor areas in real-time. All these play an important role in many applications, such as aerial surveillance, infrastructure inspection, and search and rescue activities.
• The radar technology applied to UAVs has also been key in the development of advanced applications, including the creation of high-precision three-dimensional maps with LIDAR sensors and millimeter wave radar sensors for long-range and all-weather sensing. Also, increasing demand for 5G internet and technologies would drive the development process of radar systems, creating more opportunities for radar system manufacturers and developers.

Defense Industry and Territorial Battles

• Some of the major factors driving the radar market include the increasing demand for radar systems in the automotive and defense industries. This demand is seen as being driven by advanced safety features and autonomous driving technologies in the automotive industry. At the same time, in the military, there is an increase in demand for advanced military applications. In this regard, radar technology has been incorporated into the implementation of collision avoidance, object detection, and adaptive cruise control in automotive vehicles, while in defense applications, it supports target tracking, surveillance, and missile guidance.
• Advancements in radar technology are also fueling the growth of the market due to its advantages of contactless detection, comprehensive data acquisition, and multi-dimensional detection. All these factors are making radar systems indeed highly indispensable in various applications across industries. Territorial battles and geopolitical tensions are also impacting the radar market, particularly in the defense sector, wherein the deployment of radar systems becomes of very high importance in terms of national security and surveillance purposes.

Radar Market Segmentation

Key segments that contributed to the derivation of the radar market analysis are component, service,  application, frequency, and end-use.

• Based on components, the market is divided into antenna, transmitter, receiver, and others.
• In terms of service, the market is segmented into ground-based, airborne, naval, and space-based.
• Based on application, the market is divided into antenna, transmitter, receiver, and others.
• In terms of frequency, the market is segmented into L-band, S-band, C-band, X-band, and Ku-band.
• Based on end use, the market is divided into military applications, air traffic control, remote sensing, and others.

Radar Market Share Analysis by Geography

• The radar market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering mechanical keyboards market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the radar market in these regions.

Radar Market Regional Insights

The regional trends and factors influencing the Radar Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Radar Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Radar Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Radar Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Radar Market are:

1. Thales Group
2. Honeywell International Inc.
3. Flir Systems, Inc
4. Harris Corporation
5. Leonardo S.P.A
6. Lockheed Martin Corporation

Disclaimer: The companies listed above are not ranked in any particular order.

Radar Market News and Recent Developments

The radar market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the radar market are listed below:

• Lockheed Martin successfully demonstrated the first live track AN/SPY-7(V)1 radar for the Aegis System Equipped Vessel (ASEV), marking a critical milestone in the program that will serve as the cornerstone for Japan’s national defense.

(Source: Lockheed Martin Corporation, Press Release, April 2024)

• Vaisala launches cutting-edge C-band weather radar technology for high-performance weather surveillance and smart early-warning decisions. The newest addition to Vaisala's solid-state weather radar family provides extended coverage and exceptional accuracy in an integrated, low-maintenance package for improved prediction of and preparation for adverse weather.

(Source: Vaisala, Company Website, June 2022)

Radar Market Report Coverage and Deliverables

The "Radar Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Radar market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Radar market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Radar market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the radar market
• Detailed company profiles