According to the latest report by IMARC Group, titled, “Radar System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 “, The global radar system market size reached US$ 32.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 42.1 Billion by 2027, exhibiting a CAGR of 4.76% during 2022-2027.
Radar system represents an electromagnetic arrangement that detects the distance and location of objects through radio waves. It determines the angle, spread, and speed of the things that are under its range or radius. Radar systems are of two major types, including continuous wave and pulse based. They contain a transmitter to produce electromagnetic signals, which get reflected and received through an antenna. As a result, radar systems find widespread applications in object recognition, speed monitoring, tracking, collision avoidance, area, distance and weather monitoring, air traffic control, and speed enforcement.
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Radar System Market Trends and Drivers:
The expanding aviation, space, and defense industries are among the primary factors driving the radar system market. Besides this, the escalating demand for this arrangement in advanced weather monitoring designs to gauge atmospheric conditions to improve aviation safety and provide agricultural alerts and flood warnings is further augmenting the market growth. Moreover, the elevating requirement for radar systems in ocean and space surveillance, remote sensing, and missile guidance equipment, on account of the increasing territorial conflicts and cross-border disputes, is also catalyzing the global market. Apart from this, the development of cost-effective and miniaturized structures in automobiles which can operate in narrow spaces and are equipped with digital signal processing capabilities to extract information from high noise inputs is anticipated to propel the radar system market over the forecasted period.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- BAE Systems Plc
- Dassault Aviation
- General Dynamics Corporation
- Honeywell International Inc.
- L3harris Technologies, Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Company
- Rockwell Collins Inc.
- SAAB AB
- Thales Group.
Radar System Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on type, component, range, application and frequency band.
Breakup by Type:
- Pulse Radar
- Continuous Wave (CW) Radar
Breakup by Component:
- Antenna
- Transmitter
- Receiver
- Others
Breakup by Range:
- Short Range Radars
- Medium Range Radars
- Long Range Radars
Breakup by Application:
- Air Traffic Control
- Remote Sensing
- Ground Traffic Control
- Space Navigation and Control
- Others
Breakup by Frequency Band:
- X Band
- S Band
- C Band
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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