Stratistics MRC’s Global Surveillance Radar Market value is expected to reach $22.83 billion growing at a CAGR of 12.5% during 2023-2030.
A Radars main purpose is to scan 360° in azimuth and reporting the range and azimuth of the aircraft within its range. Surveillance radars offer azimuth and elevation data, and when used with secondary surveillance radar (SSR), it is feasible to establish identity and give separation, navigational support, storm warning, and even vectoring of the aircraft into the final approach. Ground radar is used for traffic-control purposes in the approach and landing zone. It helps controllers position aircraft so that they can make low approaches using a fixed-beam, low-approach system or by using a precision radar low-approach system.
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Europe is projected to have the highest CAGR over the forecast period, due to rising expenditures from the commercial and defense sectors, additionally; the UK surveillance radar market grew at the highest rate in the European Region, while the German surveillance radar business retained the greatest market share. Radar sensor market players will benefit from increased regional manufacturers’ investments in infrastructure and manufacturing facilities modernization. Additionally, the rise in industrial automation will encourage market participants to create new sensor technologies and acquire a significant competitive edge.
Some of the key players profiled in the Surveillance Radar Market include BAE Systems PLC, Raytheon Technologies Corporation, THALES, Saab AB, Leonardo S.p.A, Elbit Systems Ltd, HENSOLDT AG, Lockheed Martin Corporation, Northrop Grumman Corporation, L3 Harris Technologies Inc., Honeywell International, Israel Aerospace Industries Ltd, ASELSAN AS, FLIR Systems Ltd., Blighter Surveillance Systems Ltd, GEM Elettronica, Detect Inc. and EAselsan AS.
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Key Developments:
In July 2023, Raytheon announced a new mentorship agreement with Node. Digital, a company specializing in digital transformation, intelligent automation and artificial intelligence/machine learning services under the Department of Homeland Security’s Mentor-Protégé Program.
In July 2023, Thales announces that it has reached an agreement with Thoma Bravo, a major software investment firm, for the acquisition of 100% of Imperva, a leading US-based data and application cybersecurity company, for an enterprise value of $3.6 billion1.
In January 2023, The United States Air Force Life Cycle Management Center at Hanscom Air Force Base, Mass., awarded a USD 412.6 million contract to Raytheon Missiles & Defense Systems to provide logistics support, engineering services, technical updates, spare parts, and other support under the Taiwan Surveillance Radar Program (AN/FPS-115 PAVE PAWS).
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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