Impact Of Increasing Defense Budgets On Coastal Surveillance On The Naval Radar Market: A Key Factor Shaping the Future of the Naval Radar Market in 2025

What industry-specific factors are fueling the growth of the naval radar market?
The augmentation in defense budgets for coastal monitoring is anticipated to fuel the growth of the naval radar market. These budgets aid coastal protection by allocating funds for the required equipment, technological advancement, infrastructure, training, and coordination measures, thereby bolstering maritime safety and safeguarding coastal areas. Naval radar serves as a critical tool in coastal monitoring, offering incessant observation of sea activities along the shorelines for vessel detection, maritime traffic monitoring, and aiding in sea safety and law enforcement operations. For example, as reported by the United States Department of Defense, a US government agency, the proposed budget for the US Navy for the fiscal year 2024 stood at $211.7 billion, indicating a 1.8% increase from 2023. This budget allocation encapsulated $58.5 billion earmarked for shipbuilding and conversion, $18.8 billion for arms acquisition, $49.8 billion meant for operations and maintenance, with $20.4 billion marked for research and development ventures. Thus, the escalation in defense budgets geared towards coastal surveillance is fostering growth in the naval radar market.

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What Is the projected market size and growth rate for the naval radar market?
In recent times, the naval radar market has witnessed significant growth. Projected to augment from $12.67 billion in 2024 to $13.42 billion in 2025, the segment is set to experience a compound annual growth rate (CAGR) of 6.0%. The historical growth can be credited to various factors including a heightened emphasis on bolstering and widening naval fleets, a surge in the acquisition of radar and air defense systems, the necessity for next-generation air and missile defense systems, and an increase in disposable income.

In the next few years, the naval radar market is projected to experience consistent growth, increasing to a valuation of $16.04 billion in 2029 with an expected CAGR of 4.5%. This growth during the forecast period is due to factors such as the expanding demand for coastal surveillance, the rise in worldwide trade via shipping, growth in disposable income, increased population of high net-worth individuals globally, and more spending on updating advanced naval systems on ships. Key trends within this period are expected to be technology innovation in the naval radar sector, advancements in radar technology itself, investments in research and development to accelerate the unveiling of ground-breaking systems with enhanced capabilities, as well as increased adoption of lightweight unmanned aerial vehicles (UAVs) and multi-function radar systems.

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What new trends are reshaping the naval radar market and its opportunities?
Leading firms in the naval radar market, such as Furuno USA, Inc., are directing their attention towards cutting-edge technology like enhanced imaging, automation features, and brushless DC motors. This approach is aimed at delivering state-of-the-art radar systems that elevate maritime navigation, safety, and operational effectiveness for both commercial and naval vessels. Brushless DC motors are electric motors that function without brushes, utilizing electronic commutation to augment efficiency, diminish maintenance requirements, and boost reliability across various applications. As an illustration, Furuno USA, Inc. unveiled the FAR2XX8MK2 commercial radar series in July 2024, aimed at extending the safety of sea operations and the efficiency of bridge tasks with clearer, more precise radar imagery. The series boasts easy maintenance, user-friendly controls, and superior tracking abilities, contributing significantly to maritime operation efficiency. Moreover, the deployment of a brushless DC motor ensures lengthy operational periods without the need for routine maintenance, thereby indirectly curtailing downtime.

What major market segments define the scope and growth of the naval radar market?
The naval radar market covered in this report is segmented -

1) By Type: Naval Surveillance Radar, Naval Fire Control Radar, Naval Navigation Radar
2) By Component: Antennas, Transmitters, Receivers, Power Amplifiers
3) By Application: Naval Ships, Submarines, Unmanned Surface Vehicles, Other Applications

Subsegments:
1) By Naval Surveillance Radar: Long-Range Surveillance Radar, Medium-Range Surveillance Radar, Short-Range Surveillance Radar, Air Surveillance Radar, Sea Surveillance Radar
2) By Naval Fire Control Radar: Target Tracking Radar, Gun Fire Control Radar, Missile Fire Control Radar, Weapon Guidance Radar
3) By Naval Navigation Radar: Surface Navigation Radar, Collision Avoidance Radar, Navigation For Airborne Platforms, Navigation For Submarines, Radar For Port And Harbor Navigation

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Which region dominates the naval radar market?
North America was the largest region in the naval radar market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the naval radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the naval radar industry growth?
Major companies operating in the naval radar market are RTX Corporation, Lockheed Martin Corporation, Airbus Group, Northrop Grumman Corporation, BAE Systems PLC, Thales Group, Leonardo S.p.A., Rheinmetall AG, Garmin Ltd., SAAB AB, Israel Aerospace Industries Ltd., Hensoldt AG, Japan Radio Co., Furuno Electric Co. Ltd., West Marine, Navico Group, Aselsan A.S., Tokyo Keiki Inc., Terma A.S., Alphatron Marine, Koden Electronics Co. Ltd., GEM Elettronica, Kongsberg Maritime AS, FLIR Systems Inc., Kelvin Hughes Limited, Rutter Inc., Transas Marine International AB, Wärtsilä SAM Electronics Gmbh

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What Is Covered In The Naval Radar Global Market Report?

•Market Size Forecast: Examine the naval radar market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the naval radar market for a structured understanding.
•Key Players Overview: Analyze major players in the naval radar market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the naval radar market.
•Segment Contributions: Evaluate how different segments drive overall growth in the naval radar market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the naval radar market.
•Industry Challenges: Identify potential risks and obstacles affecting the naval radar market.
•Competitive Landscape: Review strategic developments in the naval radar market, including expansions, agreements, and new product launches.

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