Surveillance Radars Market
The Surveillance Radars Market is estimated to expand at a robust CAGR over the forecast period (2020-2027).
The factors driving the growth of Surveillance Radars Market includes rise in the number of cross border conflicts and terrorism activities, increasing deployment of surveillance radars at airports, camps and harbors and growing application of surveillance radars in the unmanned ariel vehicles. According to the report published by Bloomberg, the Global Unmanned Ariel Vehicles Market is estimated to reach USD 77.69 billion by the end of 2030, expanding at a CAGR of 14.6% over the forecast, which will boost the Surveillance Radars Market size in the approaching years. Moreover, rise in the military drills and exercise, growing political tensions between countries and increase in Government’s expenditure for procuring modern air defense systems and next generation combat aircrafts, are some of the additional factors supplementing the market growth. Increasing investments by leading players on the research and development of quantum radars, technological advancements in the surveillance radars, improvements in the living standards, rise in defense manufacturing and rapid urbanization, are further contributing towards the market growth.
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However, the growth of Surveillance Radars Market is hindered because the defense companies need to comply with the regulations imposed by the Government for overseas exports.
The prominent players operating in the market are Lockheed Martin Corporation, Israel Aerospace Industries Ltd., Leonardo S.P.A, Blighter Surveillance Systems Ltd., GEM Elettronica, Detect Inc., Hensoldt, Elbit Systems Ltd. and Harris Corporation, among others.
Component: Segment Analysis
Based on Component, the Signal Processors segment is predicted to expand at a significant CAGR over the forecast period owing to increasing application of Active Electronically Scanned Array (AESA) radars in the naval and air defense operations.
Platform: Segment Analysis
As per the Surveillance Radars Market Research Report, the Airborne segment is projected to grow at a remarkable CAGR during the forecast period attributed to growing demand for advanced next generation combat aircrafts.
Application: Segment Analysis
Based on Application, the Defense & Space segment is anticipated to grow at a robust CAGR over the forecast period due to increasing use of surveillance radar systems in the border surveillance and defense operations.
Regional: Segment Analysis
Based on Region, the Asia-Pacific region is expected to capture the largest market share during the forecast period. The growing adoption of advanced surveillance radars by the militaries, rise in the joint development program of supersonic missiles between different countries in Asia-Pacific, increasing disposable incomes and high population density, are some of the important factors augmenting the market growth.
Market Segmentation
Global Surveillance Radars Market by Type
Global Surveillance Radars Market by Range
Global Surveillance Radars Market by Platform
Global Surveillance Radars Market by Application
Global Surveillance Radars Market by Frequency Band
Global Surveillance Radars Market by Component
Global Surveillance Radars Market by Dimension
Global Surveillance Radars Market by Region
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