The Global Surveillance Radar Systems Market Size was valued at USD 32.4 billion in 2021 and is projected to reach USD 47.9 billion by 2030, growing at a CAGR of 4.9% over the forecast period.
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Surveillance Radar System Market: Overview
The Global Surveillance Radar Systems Market size was valued at USD 32.4 Billion in 2021 and is projected to reach USD 47.9 Billion by 2030, growing at a CAGR of 4.9% over the forecast period. Digital signal processing radar systems are utilized to address security concerns. Furthermore, during the course of the projected period, their demand is likely to be driven by rising security and safety concerns as well as rising defense budgets. Additionally, it is projected that the construction of new airports and terminals would considerably contribute to the market's total growth.
The demand for radar is being significantly fueled by the rise of terrorist activities, international wars, and border infiltrations. The most common security technology used in the defense industry across all countries is radar-based equipment. These systems were primarily created for defense and military applications, although they are also widely used in air traffic control, marine and weather monitoring, and aircraft anti-collision systems. The advancement of lightweight radars is being facilitated by technological proliferation, which is also helping the market expand.
Global Surveillance Radar System Market Report Coverage
|Market Size in 2021:||USD 32.4 billion|
|Forecast Period 2022-2030 CAGR:||4.9 %|
|2030 Value Projection:||USD 47.9 billion|
|Historical Data for:||2019-2020|
|No. of Pages:||220|
|Tables, Charts & Figures:||120|
|Segments covered:||By Component, By Platform, By Radar Range Type, By Application|
|Companies Covered:||BAE Systems Dassault Aviation General Dynamics Corporation Honeywell International Inc. Lockheed Martin Corporation L3 TECHNOLOGIES INC. Northrop Grumman Corporation Rockwell Collins Inc. Saab AB Thales Group|
|Growth Drivers:||Rising security and safety concerns as well as rising defense budgets.|
|Pitfalls & Challenges:||The high maintenance costs associated with these products are the main factor impeding the growth of the market for surveillance radar systems.|
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Surveillance Radar System Market- Growth Factors
The army and marines' increasing use of GSR systems to monitor military installations, borders, and refineries is principally responsible for the market's expansion. In addition, it is anticipated that expanding GSR usage in civil applications, such as anti-collision systems for trains and highway safety systems for automobiles, would present lucrative market prospects in the ensuing years.
Additionally, rising territorial disputes and geopolitical unrest in the Asia Pacific and Middle East regions, as well as the military’s strong emphasis on replacing antiquated systems with radar ones, are anticipated to propel market expansion in the near future. For instance, China alone had over 15 maritime and land-based territorial disputes with its neighbours as of July 2020, including those with Taiwan, the Philippines, Indonesia, and Vietnam.
The market is divided into four application categories: home security, critical infrastructure, aerospace & defense, and others. Of these, the aerospace & defense category is predicted to account for the biggest market share for ground surveillance radar (GSR) systems worldwide. This is a result of militaries placing more focus on the automation and downsizing of security systems. In addition, rising expenditures in the aerospace and military industry for technological developments in the area of border security are anticipated to support the market segment's growth in the future. The long-range sector is predicted to gain the highest share during the projected period based on product type as well.
Surveillance Radar System Market – Market Trends
- The industry is expanding as more people have access to cutting-edge antenna technology, nimble RF transceivers, and powerful Digital-Signal Processing (DSP). Strong commercial potential is being produced by the Active Electronically Scanned Array (AESA) technology's advanced tracking and detecting capabilities.
- Advanced surveillance radar systems are now necessary because of increased levels of border security brought on by risks from terrorist attacks and cross-border tensions. Airport surveillance radar systems are being strengthened by government agencies and air traffic controllers.
- Through the use of smaller phased array antennas, this technology permits higher frequency evolution for improved resolution. Compared to traditional mechanically operated scanning radar systems, these radars are more efficient and have better self-protection, targeting, as well as tracking capabilities.
- Global expansion of the aerospace and defense industries.
- AI and 3D sensors are becoming more widely used in surveillance radars across Europe and North America.
- In North America and the Asia Pacific, there is an increasing emphasis on the creation of space surveillance radars.
- expansion of the aviation industry in the Middle East and Europe.
- An increase in military spending on the creation of cutting-edge surveillance radar technology
Surveillance Radar System Market – Market Restraints
The high maintenance costs associated with these products are the main factor impeding the growth of the market for surveillance radar systems. The need for more space to install vital components has increased due to the high reliance on onboard machinery. Regular upkeep and security system upgrades of surveillance radar systems, which are blamed on an increase in hacker security breach attempts, are also negatively hurting the industry's growth.
COVID - Analysis
In 2020, the COVID-19 epidemic hindered market demand. R&D efforts and industry statistics have been further impacted by government limitations and tight shutdown procedures. Since the government is primarily concerned with the economy, demand for surveillance radar systems has decreased across a number of businesses. The scarcity of electronic components had an impact on the manufacturing and business growth of companies that make surveillance radar systems. The market did, however, experience a significant increase in 2021, which can be ascribed to the rising purchase of surveillance radars for the safety and security of forces as part of global defense spending.
Surveillance Radar System Market –Regional Analysis
It is projected that the ongoing territorial disputes and the development of nations like China and India become key aviation hubs in the region will increase the demand for new surveillance radars. By 2036, China and India intend to build a total of more than 350 airports. During the projection period, it is anticipated that such airport building and modernization programs will lead to a demand for new airport surveillance radars. Additionally, the region's rising territorial disputes highlight the need for improved surveillance systems throughout land and maritime borders. To acquire these enhanced monitoring capabilities, nations are making investments in the creation and acquisition of domestic radar systems.
Surveillance Radar System Market – Segmentation
Market, By Component
Market, By Platform
Market, By Radar Range Type
- Short range
- Medium range
- Long range
Market, By Application
Key Market Players
- BAE Systems
- Dassault Aviation
- General Dynamics Corporation
- Honeywell International Inc.
- Lockheed Martin Corporation
- L3 TECHNOLOGIES INC.
- Northrop Grumman Corporation
- Rockwell Collins Inc.
- Saab AB
- Thales Group
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