The global surveillance radars market size is set to gain traction from the rising investments by the U.S. in the deployment of surveillance radar-based unmanned aerial vehicles (UAVs) for enhancing battlefield operations. This information is given by Fortune Business Insights™ in a new study, titled, “Surveillance Radars Market Size, Share & COVID-19 Impact Analysis, By Platform (Airborne, Ground, Naval, and Space), By Application (Commercial, Military, Homeland Security, Others), By Radar Type (Short Range Surveillance Radar, Medium-Range Surveillance Radar, and Long Range Surveillance Radar), and Regional Forecast, 2020-2027.” The study further mentions that the market size was USD 7.33 billion in 2019 and is anticipated to reach USD 11.78 billion by 2027, exhibiting a CAGR of 8.21% during the forecast period.
COVID-19 Pandemic to Hamper Growth by Declining Demand for New Defense Agreements
The aerospace and defense industry is experiencing huge economic losses on account of the COVID-19 pandemic. This is mainly occurring because of the rising disruptions in the supply chain ecosystems of various companies. Government bodies are also imposing stringent rules, such as lockdown and social distancing to prevent transmission. It is resulting in the cancellation or lower demand for new defense agreements. Our reports will help you pave the way towards success even under such difficult circumstances by selecting the right strategy.
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List of the Leading Companies Profiled in the Global Surveillance Radars Market are:
- Elbit Systems Ltd. (Israel)
- FLIR Systems Ltd. (The U.S.)
- Israel Aerospace Industries Ltd. (Israel)
- Leonardo S.P.A (Italy)
- Lockheed Martin Corporation (The U.S.)
- Raytheon Technologies (The U.S.)
- Saab AB (Sweden)
- Thales Group (France)
- Honeywell International Inc. (The U.S.)
- BAE Systems (The U.S.)
Major players in the Surveillance Radars Market are: FLIR Systems, Inc., Israel Aerospace Industries Ltd., Leonardo S.P.A, Lockheed Martin Corporation
Objectives of the Report
- -To carefully analyze and forecast the size of the Surveillance Radar market by value and volume.
- -To estimate the market shares of major segments of the Surveillance Radar
- -To showcase the development of the Surveillance Radar market in different parts of the world.
- -To analyze and study micro-markets in terms of their contributions to the Surveillance Radar market, their prospects, and individual growth trends.
- -To offer precise and useful details about factors affecting the growth of the Surveillance Radar
- -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Surveillance Radar market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
How Did We Create This Report?
Our highly skilled team of analysts has conducted extensive primary and secondary research to gather data about the surveillance radars industry, its parent market, and peer markets. To validate this information, interviews with reputed industry experts were conducted. The data triangulation and market breakdown procedures were utilized to estimate the sizes of segments. Key companies were selected through secondary research by evaluating financial reports. The report also provides all the growth drivers, restraints, challenges, and opportunities available in the market.
Drivers & Restraints
Increasing Border and Coastal Security Issues to Accelerate Demand
The high demand for next-generation combat aircraft from various countries, such as India, China, and the U.S. is surging. This is occurring because of its possession of high tactical capabilities required during warfare. The rising issues associated with coastal and border security is expected to augment the demand for UAVs enabled with surveillance radars. Besides, the increasing trend of modernizing military aircraft fleet would surge the number of new aircraft orders. It would also bolster the demand for surveillance radars. However, fundamental theories and techniques often limit the performances and sizes of the radar system. It may obstruct the surveillance radars market growth.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt,.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia,.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France,.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Long-range Surveillance Radar Segment to Grow Rapidly Stoked by Increasing Usage of OTH Radars
Based on radar type, the long-range segment held 40.23% in terms of the surveillance radars market share in 2019. It is set to showcase the highest CAGR throughout the forthcoming years backed by the higher adoption of over-the-horizon (OTH) radars for detecting targets from longer distances.
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Key questions answered
- How feasible is Surveillance Radar market for long-term investment?
- What are influencing factors driving the demand for Surveillance Radar near future?
- What is the impact analysis of various factors in the Global Surveillance Radar market growth?
- What are the recent trends in the regional market and how successful they are?
Key Players Focus on Winning New Orders to Intensify Competition
The global market for surveillance radars houses numerous manufacturers that are focusing on gaining new orders from reputed agencies for their in-house products. Some of the others are trying to adopt the acquisition strategy to gain a competitive edge.
Below are the two latest industry developments:
- September 2020: Indra bagged a new contract from Hellenic Civil Aviation Authority (HCAA) to offer radars and an air traffic surveillance system for Athens International Airport, Greece. It also contains the delivery of multilateration systems to identify approaching and ground aircraft.
- September 2020: Raytheon Technologies received a contract worth USD 212.8 million from the Missile Defense Agency to deliver support services for terminal high altitude area defense radars of the U.A.E. it aims to prevent them from ballistic missiles.
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