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2021
Radar Market

Radar Market

by Offering (Hardware, Software, and Services), Product Type (Continuous Wave Radar, Pulse Radar, and Others), Platform (Marine, Air, Ground, and Space), Application (Air Traffic Control, Remote Sensing, Ground Traffic Control, and Space Navigation & Control), and End User (Automotive, Aviation, Industrial, Weather Monitoring, Military & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2028
Update Available On-Demand

Report Code: A01600
Pages: 372
May 2021 | 20345 Views
Author(s) : Asavari Patil , Vineet Kumar
Tables: 160
Charts: 103
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COVID-19

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The global radar market size was valued at $32.56 billion in 2019, and is projected to reach $44.35 billion by 2028, registering a CAGR of 4.7% from 2021 to 2028. Radar is an electromagnetic system, which detects the location and distance of objects and uses radio waves to determine the spread, angle, and speed of an object, which falls within its radius. Radar comprises a transmitter to produce an electromagnetic signal, which is radiated into space by an antenna. It is used to forecast and detect the spacecraft, aircraft, missiles, weather, and other forms of vehicles. Radar systems are majorly used in industrial applications such speed monitoring, object recognition & tracking, area & distance monitoring, collision avoidance with static & moving objects, owing to their high robustness in measuring distances, velocities, and angles as compared to optical or ultrasound systems.  

Radar was initially developed for defense and military purposes. However, with upcoming technologies and innovation, modern radar system is primarily applicable for air traffic control, radar astronomy, weather formation, and meteorological monitoring. In addition, it is incorporated in air defense systems, anti-missiles systems, and aircraft anti-collision systems. 

RADAR-Market-2021-2028

Furthermore, radar system is widely used in the automotive industry, which has enhanced safety features in passenger cars and other transport systems. Radar deployed in automotive assist in lane changing, aids in cruise control, which allows adjusting the vehicle speed to maintain a safe distance from vehicles ahead, and delivers collision warning, assisting driver about the possible threats.  

Rise in preference of economically emerging nations toward deployment of radar technology in various passenger and commercial vehicles is a key factor that drives the growth of the global radar market. In addition, increase in demand for high-end passenger cars, rise in concerns about vehicle & driver safety, and implementation of safety regulations contributes toward the growth of the global radar industry.

Furthermore, the growth of the global radar industry is driven by increase in demand for radar systems and high defense budget due to rise in security-related issues. However, adverse climatic conditions result in the malfunctioning of the radar system, which acts as a major restraint of the radar market.

Highly advanced radar systems are used for digital signal processing, and are capable of extracting information from high noise level, which is an internal source of random variations in the signal that is generated by all electronic components. For instance, in the aviation sector, aircraft are equipped with radar systems, which enable the detection of obstacles, help forecast weather information, and provide accurate altitude details to assist the pilot to take necessary actions.

Radar Market
By Platform

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Ground radar segment is projected as one of the most lucrative segments.

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The global radar market is segmented on the basis of product type, platform, application, end user, and region. By offering, the market is segmented into hardware, software, and services. The hardware segment is further categorized into antenna, receiver, transmitter, duplexer, and others. The service segment is further bifurcated into installation and integration segments. By product type, the market is fragmented into continuous wave radar, pulse radar, and others. On the basis of platform, it is classified into marine, air, ground, and space. The applications covered in the study include air traffic control, remote sensing, ground traffic control, and space navigation & control. Depending on end user, the market is segregated into automotive, aviation, industrial, weather monitoring, military & defense, and others.

Region wise, the radar market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, Italy, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). 

Radar Market
By End User

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Military and Defense segment is expected to secure leading position during forecast period.

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Top Impacting Factors

The prominent factors that impact the radar market growth are increase in demand for radar systems in automotive & defense industry, advancement in radar technology, and increase in territorial battles. However, adverse climatic conditions restrict the market growth. On the contrary, deployment of lightweight radars in aerial vehicles is expected to create lucrative opportunities for the market. Each of these factors is likely to have a definite impact on the growth of the global radar market during the forecast period. 

Competition Analysis

Competitive analysis and profiles of the major radar market players such as Northrop Grumman Corporation, Lockheed Martin Corporation, SAAB AB, Rockwell Collins Inc., Thales Group, Honeywell International Inc., L-3 Communications Holdings, General Dynamics Corporation, BAE Systems, and Dassault Aviation are provided in this report. 

Radar Market
By Region

2028
Europe 
North America
Asia-pacific
Lamea

Asia-Pacific region would exhibit the highest CAGR of 6.4% during 2021-2028

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Covid-19 Impact Analysis

  • The overall effect of the COVID-19 outbreak is impacting the production process of several industries of radar market. As government of different provinces have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall radar market globally. 
  • The COVID-19 pandemic is impacting the society and overall economy across the global. The impact of this outbreak is growing day-by-day as well as affecting the supply chain. The crisis is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increasing panic among the customer segments.   
  • The European countries under lockdowns have suffered major loss of business and revenue, due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; thereby, leading to slowdown in the growth of the radar market in 2020.  
  • The COVID-19 has been impacted severely on the global automotive and industrial sector, as the production facility has stalled. The symptoms include a large scale manufacturing interruptions across Europe, disruption in Chinese parts exports, which may hinder the radar market. 

Key Benefits For Stakeholders

  • This study comprises analytical depiction of the global radar market size along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall radar market analysis is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current radar market forecast is quantitatively analyzed from 2019 to 2028 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and the radar market share of key vendors.
  • The report includes the market trends and the market share of key vendors.

Radar Market Report Highlights

Aspects Details
By Platforms
  • Marine radar
  • Air radar
  • Ground radar
  • Space radar
By Product Type
  • Continuous wave (CW) radar
  • Pulse Radar
  • Others
By Application
  • Air Traffic Control
  • Remote Sensing
  • Ground Traffic Control
  • Space Navigation & Control
By End User
  • Automotive
  • Aviation
  • Industrial
  • Weather Monitoring
  • Military & Defense
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Russia, France, Italy, Germany, Rest of Europe)
  • Asia-Pacific  (China, India, Australia, Japan, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players BAE Systems, Dassault Aviation, General Dynamics Corporation, Honeywell International Inc., Lockheed Martin Corporation, L3 TECHNOLOGIES, INC. (L3HARRIS TECHNOLOGIES, INC.), Northrop Grumman Corporation, Rockwell Collins, Inc., Saab AB, Thales Group
 

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Radar system is used for detecting, tracking, locating, and recognizing objects at considerable distances. Radar operates by transmitting electromagnetic energy toward objects, which are referred to as targets. Modern radar systems are equipped with digital signal processors, solid-state modules, and complex A–D converters; thereby, fueling their demand majorly in the military & defense sector.

Major factors that drive the growth of the global radar market are increase in demand for radar systems in the automotive & defense industries, advancement in radar technology, and increase in territorial battles. However, adverse climatic conditions result in the malfunction of the radar systems, which hampers the market growth. Conversely, high investment from developed countries in the military sector is expected to create lucrative opportunities for the radar market. 

The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Expansion and acquisition are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2019, owing to the presence of major players in the region; however, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of radar systems in a variety of fields 
 

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