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Naval Radar Systems Market Industry Size, Share, Revenue Growth and Demand Forecast To 2031

08-31-2024 04:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Naval Radar Systems Market

Naval Radar Systems Market

The global naval radar systems market is expected to grow at a significant CAGR during the forecast period (2024-2031). The major factors propelling the growth of the global naval radar systems market include risking investment in defense by governments globally. For instance, in June 2020, L3Harris Technologies received a $7.2 million cost-plus-incentive-fee contract to develop and deliver the AN/SPS-48G(V)1 radar data processor and radar display and control function software by the US government that was expected to be finished in 2022. Since 2011, the US Navy began changing the AN/SPS-48E with AN/SPS-48G aboard many naval vessels. It is expected to be completed by 2028.

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The major players in the global naval radar systems market include Finmeccanica, Lockheed Martin, Northrop Grumman, Raytheon, Thales, among others. They are adopting various strategies such as product launches & developments, mergers and acquisitions, partnerships, and agreements, to remain competitive in the market. For instance, in September 2021, Hensoldt launched a newly developed Quadome 3D, multi-mission naval radar system. Features such as naval surveillance and target acquisition are offered by Quadome. It offers quick reaction and excellent accuracy at a low cost-to-benefit ratio. The dual-mode, multi-mission surveillance radar will give naval troops and maritime security agencies unmatched situational awareness and quick response times.

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Market Coverage

Segment Covered-
o By Type

o By Application

Competitive Landscape- Finmeccanica, Lockheed Martin, Northrop Grumman, Raytheon, Thales, among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominates the market in base year?
Which segment and region will project fastest growth in the market?
How COVID-19 impacted the market?
o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected region and segment

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Naval Radar Systems Market by Segments

By Type

Yacht/recreational
Fishing vessel
By Application

Weapon guidance
Surveillance


Reasons to Buying From us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.


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Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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