Naval Radar Market Top Manufacturers, Product Types and Demand 2020-2027

The naval radars are short-range radars that are used majorly by navy of many countries. They are used for frontline combat to cater to maritime disputes and geopolitical threats; thus, heightening the adoption of powerful radar systems. This has led to deployment and routine upgrades of existing naval fleets and offshore naval vessels; thus, augmenting the demand for naval radars. Radar systems enhance detection capabilities, surveillance resolution, and duration. Major developing economies' governments have been investing significantly in R&D activities to enhance the capabilities of naval vessels. This has resulted in the development of groundbreaking radar systems. Increase in military operations and coastal surveillance will propel the global naval radar market to grow more than two-fold during the forecast period. The naval market has witnessed significant adoption of multi-functionality radars by naval forces, on smaller vessels, owing to high performance and lightweight features.

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Regions covered
North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), LAMEA (Latin America, the Middle East, and Africa)

Companies covered
Lockheed Martin Corporation, Saab AB, Kelvin Hughes Limited, BAE Systems, Raytheon Company., Airbus Group, BAE Systems PLC, Furuno Electric Co. Ltd., West Marine, and Northrop Grumman Corporation

Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increasing procurement of radar and air defense systems and advancements in radar technologies are expected to drive the market growth during the forecast period. However, High manufacturing costs may result in hampering the growth of the market. Furthermore, the requirement of new-generation air and missile defense systems and rise in adoption of lightweight unmanned aerial vehicles (UAV) are expected to offer lucrative opportunities for the market during the forecast period.

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The naval radar market trends are as follows:

Increase in procurement of radar and air defense systems
The high-end weapon systems such as missiles are increasingly being used in these wars by various terrorist organizations. Countries in this region are increasing their defense expenditure to safeguard their borders with new radar systems for defense against these weapons. In addition, increase in transnational disputes among various nations have increased the defense spending of nations to safeguard their borders. Hence, the countries with increased spending on various radar and air defense systems will further drive the growth of the naval radar market during the forecast period.

Advancements in radar technologies
Rise in demand for weapon guidance application and surveillance has forced radar manufacturers to upgrade. The advancements in radar technologies lead to more adaption of the naval radar market during the forecast period. Additionally, factors such as increasing military expenditure by developed economies is also bolstering the market growth. The growth in purchasing powers of various countries has also ignited the race for the businesses on the top of the game for the global marine radar market. Also, the influx of various businesses into marine tourism yet again elevated the use of marine radars. This factor also attributes to the growth of the global naval radar market during the forecast period.

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