What Has Been the Growth of the Radar Systems And Technology Market So Far?
The radar systems and technology market has seen considerable growth due to a variety of factors.
• The market size for radar systems and technology has seen a robust growth in the past years. Its value is predicted to increase from $22.01 billion in 2024 to $23.27 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.8%.
Factors that contribute to this growth during the historic period include the increase in demand for runway incursion reduction, an uptick in the use of passive radars, a surge in demand in the realm of active electronically scanned array (AESA), a call for superior security measures, and the integration of radars with GPS systems.
How Will the Radar Systems And Technology Market?
The radar systems and technology market is expected to maintain its strong growth trajectory in upcoming years.
• Steady expansion is predicted for the radar systems and technology market over the coming years, with a projected size of $27.68 billion by 2029, brought about by a compound annual growth rate (CAGR) of 4.4%.
Factors contributing to this growth in the forecast period encompass the rise of autonomous vehicles, heightened demand for improved surveillance and security, increased situational awareness, boosted defense budgets across various nations, escalating usage of radar systems and the growing necessity for such systems in military and defense industries. Technological evolution, enhanced signal processing and data analysis techniques, integration of radar systems with other sensor and technology types, new airport constructions and terminal expansions, as well as advancements in signal processing, are the major trends expected to dominate the forecast period.
Which Factors Are Boosting Growth In The Radar Systems And Technology Market?
The surge in interest for self-driving vehicles is predicted to fuel the expansion of the radar systems and technology market in the near future. Autonomous vehicles, equipped with robust sensor technologies, artificial intelligence (AI), and machine learning capabilities, are designed to enhance traffic safety by minimizing the likelihood of human mistakes. Radar systems and technology play a vital role in autonomous vehicles by allowing them to identify obstacles, calculate distances, evaluate speeds, and safely navigate through traffic by supplying crucial data for collision prevention and adaptive driving functionalities. For instance, a report by the US-based non-profit organization, Insurance Institute for Highway Safety, in December 2022 mentioned that there were expectations of having 3.5 million autonomous vehicles on the US roads by 2025. The number is then projected to rise to 4.5 million by 2030. Hence, the increasing demand for autonomous vehicles is stimulating the growth of the radar systems and technology market.
What Key Areas Define The Segmentation Of The Global Radar Systems And Technology Market?
The radar systems and technology market covered in this report is segmented –
1) By Type: Ground-Based Radar Systems, Airborne Radar Systems, Naval Radar Systems
2) By Sales Channel: Direct Channel, Distribution Channel
3) By Application: Automotive, Industrial, Medical, Military And Defense, Other Applications
Subsegments:
1) By Ground-Based Radar Systems: Air Defense Radar, Weather Radar, Surveillance Radar, Ground Surveillance Radar, Border Security Radar, Traffic Control Radar, Other Ground-Based Radar Systems
2) By Airborne Radar Systems: Weather Radar, Navigation Radar, Surveillance Radar, Ground-Penetrating Radar, Collision Avoidance Radar, Airborne Early Warning Radar, Other Airborne Radar Systems
3) By Naval Radar Systems: Navigation Radar, Fire Control Radar, Surveillance and Targeting Radar, Anti-Submarine Warfare Radar, Weather Radar, Tactical Radar, Other Naval Radar Systems
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What Trends Are Shaping The Radar Systems And Technology Market?
Key players in the radar system and technology sector are focusing on the creation of cutting-edge solutions, like 4D digital imaging radar, to preserve their competitiveness and meet dynamic market needs. This high-definition, long-range sensor technology enhances conventional radar systems by incorporating vertical data which enables more precise object detection and categorization. For example, in March 2022, Uhnder Inc., a company from the United States that specializes in creating digital automotive radar-on-chip, unveiled their 4D digital imaging radar purposed for emerging advanced driver assistance systems (ADAS), autonomous vehicles (AVs), and automatic mobility applications. Their product, known as S80, showcases higher resolution, power on target, and contrast compared to usual analog radar systems. It's designed to enhance the detection abilities of ADAS and autonomous cars. It's software-based and fully complies with top-tier automotive standards. This groundbreaking technology also presents solutions to issues traditional radar systems face—such as limited object classification capacities, subpar performance in extreme situations, and disruption caused by multiple radars functioning concurrently.
Who Are the Key Players In The Radar Systems And Technology Market?
Major companies operating in the radar systems and technology market are:
• RTX Corporation
• Lockheed Martin Corporation
• Airbus SE
• General Dynamics
• Northrop Grumman Corporation
• Mitsubishi Electric Corporation
• BAE Systems Plc
• Thales Group
• L3Harris Technologies Inc.
• Leonardo SpA
• Infineon Technologies AG
• NXP Semiconductors NV
• Rockwell Collins Inc.
• Harris Corporation
• Rheinmetall AG
• Saab AB
• Indra Sistemas SA
• Israel Aerospace Industries
• Aselsan A.S.
• Hensoldt AG
• Terma A/S
• RADA Electronic Industries Ltd.
• Honeywell International Inc.
• Reutech Radar Systems
• Kelvin Hughes Limited
• Cambridge Consultant
• Tactical Solutions
• Telephonics Corp.
What Is The Most Dominant Region In The Radar Systems And Technology Market?
North America was the largest region in the radar systems and technology market in 2024. The regions covered in the radar systems and technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
