What is Global Radar Systems Market?
The Global Radar Systems Market is a vast and dynamic sector that encompasses a wide range of technologies and applications. It is a system that uses radio waves to determine the range, angle, or velocity of objects. It can be used to detect aircraft, ships, spacecraft, guided missiles, motor vehicles, weather formations, and terrain. The radar dish or antenna transmits pulses of radio waves or microwaves which bounce off any object in their path. The object returns a tiny part of the wave's energy to a dish or antenna which is usually located at the same site as the transmitter. As of 2023, the market value stood at a whopping US$ 20760 million and it's projected to reach US$ 26490 million by 2030. This indicates a Compound Annual Growth Rate (CAGR) of 3.5% during the forecast period of 2024 to 2030.
Pulsed Radar, Continuous Wave (CW) Radar in the Global Radar Systems Market:
The Global Radar Systems Market is segmented into two main types: Pulsed Radar and Continuous Wave (CW) Radar. Pulsed Radar is the most dominant segment, accounting for over 80% of the market. It works by transmitting high power, short duration pulses with a specific pattern. The time between each pulse is used to determine the distance of the target. On the other hand, Continuous Wave (CW) Radar is a type of radar system where a known stable frequency continuous wave radio energy is transmitted and then received from any reflecting objects. Due to its ability to measure high speeds accurately, it is commonly used in traffic enforcement and in some speed cameras.
Short Range Radars, Medium Range Radars, Long Range Radars in the Global Radar Systems Market:
The Global Radar Systems Market is also categorized based on their range. Short Range Radars are typically used for applications that require precise, high-resolution measurements. They are commonly used in weather forecasting, ground surveillance, and in the automotive industry for adaptive cruise control and collision avoidance. Medium Range Radars are used for slightly longer distances and are often used in air traffic control and marine radar for collision avoidance. Long Range Radars, as the name suggests, are used for detecting objects at greater distances. They are typically used in air defense systems, missile control, and long-range surveillance.
Global Radar Systems Market Outlook:
Looking at the market outlook, the Global Radar Systems Market is showing promising growth. In 2023, the market was valued at US$ 20760 million. It is expected to grow at a steady pace, reaching a value of US$ 26490 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 3.5% during the forecast period from 2024 to 2030. The market is dominated by the top three manufacturers who collectively hold a market share of over 30%. The largest segment of the market is the Pulsed Radar, which holds a market share of over 80%.
| Report Metric | Details |
| Report Name | Radar Systems Market |
| Accounted market size in 2023 | US$ 20760 million |
| Forecasted market size in 2030 | US$ 26490 million |
| CAGR | 3.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| By Region |
|
| By Company | Lockheed Martin, Raytheon, Northrop Grumman, Saab Group, L3 Harris, BAE Systems, Leonardo SpA, Rheinmetall AG, Israel Aerospace Industries Ltd, Hensoldt, Aselsan, Thales, Indra Sistemas, S.A, Reutech Radar Systems, Terma |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
