Radar Market to Reflect a Holistic Expansion with Highest CAGR by 2031 | ASELSAN A.S., Lockheed Martin Corporation, Saab AB

The Global Radar Market reached US$ 24,012.56 million in 2023 and is projected to witness lucrative growth by reaching up to US$ 41,026.41 million by 2031. The market is growing at a CAGR of 5.8% during the forecast period (2024-2031).

DataM Intelligence has published a new research report on "Radar Market Size 2024". The report explores comprehensive and insightful Information about various key factors like Segmentation, CAGR, business revenue competitive positioning of key companies, investigating elements such as product offerings, pricing strategies, financial performance, product portfolios, growth initiatives, and geographical reach. . The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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The Radar market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.

The Radar Market encompasses the technologies and applications related to radar systems, which utilize radio waves to detect and track objects, measure their speed, and determine their distance. This market plays a crucial role in various sectors, including defense and security, aviation, automotive, weather monitoring, and maritime navigation. The growing demand for advanced radar systems and technologies is driving the expansion of this market.

Key Developments:

On March 20, 2023, L3Harris Technologies, in collaboration with Israeli Aerospace Industries' ELTA Systems Group (IAI/ELTA) and Korean Air Lines, formed a partnership to deliver the latest generation of resilient, high-altitude airborne early warning and control aircraft for the Republic of Korea Air Force. This teaming aims to enhance the country's aerial surveillance capabilities.

On November 21, 2022, Lockheed Martin Corp., based in the U.S., secured a contract to supply ground-based radar systems to Kuwait. This contract was awarded by the Air Force Life Cycle Management Centre, located at Hanscom Air Force Base in Massachusetts, further strengthening defense ties between the U.S. and Kuwait.

On November 9, 2022, Saab received a contract modification to supply the U.S. Navy with two additional AN/SPN-50(V)1 shipboard air traffic radar (SATR) systems. This enhancement is expected to improve the Navy's air traffic management capabilities on board ships.

Forecast Growth Projected:

The Global Radar Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Radar Market:

ASELSAN A.S., Lockheed Martin Corporation, Saab AB, Rockwell Collins, Northrop Grumman Corporation, Thales Group, Raytheon Technologies Corporation, Hensoldt AG, L3Harris Technologies, Inc. and SRC, Inc.

Segment Covered in the Radar Market:

By Range: Short Range, Medium Range, Long Range.

By Application: Military Applications, Air Traffic Control, Remote Sensing, Ground Traffic Control, Space, Others.

By Platform: Land, Naval, Airborne, Space.

Regional Analysis:

The global Radar Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

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Regional Analysis:

The global Radar Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Radar Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Radar manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Radar in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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The research study aims to address the following key questions:

➡What is the expected growth rate of the Radar Market during the forecast period of 2031?

➡What key factors are driving the Radar Market across various regions?

➡Who are the leading vendors in the Radar industry, and what strategies contribute to their success?

➡What is the anticipated market scope for the projected period?

➡What major trends are influencing the industry's growth in the coming years?

➡What challenges does the Radar Market face?

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