Radar Market Worth $38.4 Billion by 2029 -by Meticulous Research®

According to a new market research report titled, 'Radar Market by Type (Primary Radar, Secondary Radar), Dimension Type (2D, 3D, 4D), Frequency Band Type (L- Band, C-Band), Installation Type, End-user, and Geography - Global Forecast to 2029,' the global radar market is projected to reach $38.4 billion by 2029, at a CAGR of 7.6% from 2022 to 2029.

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The growth of this market is attributed to the rising demand for radar systems in automotive and defense industries, the surge in demand for advanced weather monitoring radar systems, and the development of phased array solid-sate radar. Furthermore, the increasing investments by governments to upgrade aircraft radar systems and the rising adoption of radar-based unmanned aerial vehicles are expected to create significant opportunities for the players operating in this market.

However, the stringent cross-border trading policies and susceptibility to new jamming techniques are likely to pose challenges to the growth of this market. Additionally, the high cost of radar systems is restraining market growth.

The Impact of COVID-19 on the Global Radar Market

The COVID-19 pandemic emerged around the end of December 2019 in Wuhan, China. By March 2020, it had spread worldwide, resulting in huge casualties and heavy economic losses. The pandemic severely impacted several sectors, including the automotive and consumer, with major manufacturers shutting down their operations completely or operating at reduced capacities following the directives issued by their respective governments. Uncertainty regarding the duration of the lockdown and supply-chain disruptions made it more difficult for players to anticipate the industry's recovery. This crisis caused structural shifts that had significant implications for the market.

The COVID-19 pandemic forced the governments of several countries worldwide to declare either complete or partial lockdowns. The operations in many industries have been affected by lockdowns, particularly those categorized as non-essential, including the aviation & defense industry.

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The aviation industry witnessed an unprecedented decline in 2020 due to the COVID-19 pandemic. The outbreak of the virus significantly impacted airline and airport operators. The spread of COVID-19 and the response by the aviation industry resulted in an unparalleled decline in global air traffic. The average number of flights per day in March 2020 was 145,000, which was 17.61% lower than 176,000 in March 2019. Moreover, after several governments around the world announced restrictions on air travel, commercial air traffic registered a 41% decrease compared to the 2019 levels in the last two weeks of March. Moreover, according to the International Civil Aviation Organization (ICAO) number of departures on 11th March 2020 was 22,568, which decreased by 8.45% to 2,387 by 26th May 2020. Thus, due to this drastic decrease in air passenger traffic globally, the revenues of airport operators from airport charges such as the landing and parking charges paid by airlines and passenger service charges paid by passengers decreased by around 50% in 2020.

The global radar market is segmented based on type, dimension type, frequency band type, installation type, end user, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on type, the primary radar segment is expected to account for the largest share of the radar market in 2022. The large share of this segment can be attributed to the use of primary radar for accurately detecting non-cooperative targets over the full radar coverage. The advantages of primary radar are that no onboard equipment in the aircraft is necessary for detecting the target and that it is used to monitor the movement of vehicles on the ground.

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Based on dimension type, the 3D radar segment is expected to account for the largest share of the radar market in 2022. The segment's growth is attributed to the growing adoption of air surveillance, defense applications such as long-range warning systems, detecting enemies, missiles and suspicious aircraft, and weather monitoring. 3D radar technology is widely preferred to precisely predict natural disasters, flood monitoring, earthquake, and many other calamities.

However, the 4D segment is expected to grow at the highest CAGR during the forecast period. The growth of the 4D segment is majorly attributed to the growing demand for ADAS systems for automated driving. 4D radar is high-resolution, long-range technology that offers significant advantages over 3D radar in identifying an object's height. 4D radar is important in developing advanced driver-assistance systems (ADAS) for Level 2 and 3 functions and is a key enabler for Level 4 and 5 automated vehicles.

Based on frequency band type, the X-band segment is expected to account for the largest share of the radar market in 2022. Factors such as an increase in the number of sea vessels & offshore installations and increasing use of radars for ship traffic control & navigation are driving the segment's growth. An X-band radar is mainly used in ships and large vessels for continuous monitoring of an area of the sea surface for several square kilometers. However, the S-band segment is expected to grow at the highest CAGR during the forecast period.

Based on installation type, the airborne radar segment is expected to account for the largest share of the radar market in 2022. The airborne radar system is designed to detect aircraft, ships, vehicles, missiles, and other incoming projectiles at long ranges and command and control. The growth of the airborne platform segment is also driven by the increasing fleet of commercial aircraft due to the growing air passenger traffic. However, the ground-based radar segment is expected to grow at the highest CAGR during the forecast period

Based on end-user, the aerospace & defense segment is expected to account for the largest share of the radar market in 2022. The large market share of this segment is attributed to the increasing radar systems for missile weapon guidance, drone detection, space observation, naval wars, weather forecast, and many other factors driving the segment's growth. Various defense agencies are particularly opting for unmanned aerial vehicles (UAVs) to patrol their borders, and radar systems are becoming very effective in establishing seamless communication with the UAVs. Defense agencies are also adding the provision for inspection, testing, and support & maintenance services while issuing UAV radar systems contracts. Moreover, the automotive & mobility segment is expected to grow at the highest CAGR during the forecast period

Based on geography, the global radar market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the radar market. The region's large share is attributed to the technological advancements in the region. Such as, quantum radar is being developed in Canada to enhance the detection of stealth aircraft. This technology helps detect objects with greater accuracy as compared to conventional systems. It is undergoing trial phases at the University of Waterloo and is expected to be launched by 2025. However, Asia-Pacific is expected to witness rapid growth during the forecast period. This market growth is owing to increasing demand for modern naval radars with advanced technologies from emerging nations such as India and China. Furthermore, the need for anti-ballistic missile systems in the defense service across Asia-Pacific helped to grow the market.

Some of the key players operating in the global radar market are DRS RADA Technologies (Israel), Thales Group (France), Honeywell International Inc. (U.S.), Lockheed Martin Corporation (U.S.), Rosoboronexport (Russia), Raytheon Anschütz (Germany), Saab AB (Sweden), Northrop Grumman Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel), General Dynamics Mission Systems, Inc. (U.S.), BAE Systems plc (U.K.), ASELSAN A.Ş. (Turkey), L3Harris Technologies, Inc. (U.S.), Airbus SE (Netherlands), and Elbit Systems Ltd. (Israel).

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Scope of the Report

Radar Market, by Type

Primary Radar
Continuous Wave Radar
Unmodulated Radar
Modulated Radar
Pulse Radar
Moving Target Indicator (MTI) Radar
Doppler Radar
Secondary Radar
Other Radar Types

Radar Market, by Dimension Type

2D Radar
3D Radar
4D Radar
Other Dimension Types

RADAR Market, by Frequency Band Type

L-band
S-band
C-band
X-band
Ku-band
Ka-band
Other Frequency Bands

Radar Market, by Installation Type

Ground-based Radar
Marine Radar
Airborne Radar
Spaceborne Radar
Other Installation Types

Radar Market, by End-user

Automotive & Mobility
Aerospace & Defense
Industrial
Consumer
Healthcare
Other End-users

Radar Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Singapore
Rest of Asia-Pacific
Middle East & Africa
Latin America

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This release was published on openPR.