Naval Radar Market Size Forecasted To Achieve $16.04 Billion By 2029 With Steady Growth

The Naval Radar Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Naval Radar Market Size and Projected Growth Rate?
The market size of naval radar has witnessed substantial growth in the past few years. The market valuation is projected to escalate from $12.67 billion in 2024 to $13.42 billion in 2025, expanding at a compound annual growth rate (CAGR) of 6.0%. The historical growth is credited to an amplified emphasis on augmenting and broadening naval fleets, higher procurement of radar and air defense systems, the demand for new-generation air and missile defense systems, as well as an increase in disposable income.

In the forthcoming years, the naval radar market is projected to witness consistent expansion, reaching a size of $16.04 billion in 2029, with a compound annual growth rate (CAGR) of 4.5%. This projected growth can be credited to increased demand for coastal monitoring, surge in global trading via maritime routes, growing levels of disposable income, escalating count of affluent individuals globally, and enhanced spending on revamping advanced naval systems on naval vessels. The forecast period will see influential trends such as technological progress in the naval radar sector, improvements in radar technology, increased investment in R&D to expedite the introduction of innovative systems with superior functions, upsurge in the use of lightweight unmanned aerial vehicles (UAV), and the adoption of multifunction radar systems.

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What Are the Major Segments in 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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What Are The Driving Naval Radar Market Evolution?
The naval radar market is anticipated to expand due to rising defense budgets allocated towards coastal surveillance. These budgets aid coastal surveillance by making provisions for technology advancements, equipment, infrastructure, training, and improved coordination, all of which boost marine security and fortify coastlines. Coastal surveillance heavily relies on naval radar as it provides a continuous monitoring system for marine activities along the coastlines. It aids in the detection and tracking of vessels, overseeing maritime traffic, and backing up marine security and law enforcement measures. As per the United States Department of Defense, a government agency based in the US, the proposed budget for the US Navy for the fiscal year 2024 stands at $211.7 billion, indicating a 1.8% increase from 2023. This budget includes $58.5 billion for shipbuilding and conversion, $18.8 billion to procure weapons, $49.8 billion for operation and maintenance, and $20.4 billion directed towards research and development efforts. Thus, the boost in defense budgets focusing on coastal surveillance is fueling the growth of the naval radar market.

Which Firms Dominate The Naval Radar Market Segments?
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

What Trends Are Expected to Dominate the Naval Radar Market in the Next 5 Years?
Leading organizations in the naval radar industry are focusing their efforts on integrating advanced technologies like improved imaging, automation features and brushless DC motors into their systems. These innovations aim to provide superior radar systems that elevate maritime safety, navigation and operational efficiency for both naval and commercial ships. Brushless DC motors are electric motors that operate without brushes, utilizing electronic commutation to boost efficiency, minimize maintenance requirements, and increase reliability across different applications. An example of this is Furuno USA, Inc., a marine electronics company based in the US, who in July 2024 introduced the FAR2XX8MK2 commercial radar series. This series is designed to optimize bridge operations and marine safety through clear and precise radar images. It features simple maintenance, user-friendly controls, and advanced tracking capabilities, making it an efficient tool for maritime operations. The integration of a brushless DC motor also means extended operational periods with less frequent maintenance, further decreasing downtime.

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Which Is The Largest Region In 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Naval Radar Market?
2. What is the CAGR expected in the Naval Radar Market?
3. What Are the Key Innovations Transforming the Naval Radar Industry?
4. Which Region Is Leading the Naval Radar Market?

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