Impact Of Increasing Defense Budgets On Coastal Surveillance On The Naval Radar Market Emerges as a Core Driver of the Naval Radar Market in 2025

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What Is the Expected CAGR for the Naval Radar Market Through 2025?
The size of the naval radar market has experienced robust growth over the past years. The market, which is projected to soar from $12.67 billion in 2024 to $13.42 billion in 2025, is predicted to see a compound annual growth rate (CAGR) of 6.0%. The historic growth is primarily due to efforts focused on the expansion and fortification of naval fleets, augmented purchases of radar and air defense systems, the demand for new-generation air and missile defense systems, as well as increasing disposable income.

What's the Projected Size of the Global Naval Radar Market by 2029?
Expectations predict a consistent expansion of the naval radar market in the upcoming years, with projections indicating it will reach $16.04 billion in 2029, marking a compound annual growth rate (CAGR) of 4.5%. This growth during the predicted period can be linked to an increased need for coastal surveillance, enhanced global trade through marine transportation, a spike in disposable income, and growing population of wealthy individuals globally, as well as burgeoning spending on the enhancement of sophisticated naval systems on marine vessels. Main trends projected for this period include technological progress in the naval radar market, advancements in radar technology, investment in research and development to fast-track the introduction of unique systems with superior features, an increase in the utilization of light unmanned aerial vehicles (UAV), as well as adoption of multi-functional radar systems.

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Top Growth Drivers in the Naval Radar Industry: What's Accelerating the Market?
The expansion of the naval radar market is anticipated to be fueled by rising defense budgets allocated for coastal surveillance. These budgets are crucial as they fund the procurement of equipment, innovation, infrastructure, training, coordination, heightening maritime security, as well as safeguarding coastal regions. The integral role of naval radar in coastal surveillance can't be underestimated, offering constant tracking of marine activities along coastlines, detecting and tracing vessels, overseeing maritime traffic, and bolstering marine security and law enforcement efforts. As an example, the United States Department of Defense, an agency based in the US, has proposed a budget of $211.7 billion for the US Navy for the fiscal year 2024, an increase of 1.8% from 2023. This budget includes $58.5 billion for shipbuilding and conversion, $18.8 billion for weapons procurement, $49.8 billion for operation and maintenance, and $20.4 billion for research and development initiatives. As such, the growth of the naval radar market is being catalyzed by increasing coastal surveillance defense budgets.

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What Trends Will Shape the Naval Radar Market Through 2029 and Beyond?
Leading entities in the naval radar market are concentrating on developing innovative technologies, including improved image capture and automation features plus brushless DC motors. These modern radar systems aim to boost maritime security, ease of navigation, and operational efficiency for military and commercial ships. A brushless DC motor is a type of electric motor that functions without brushes, utilizing electronic commutation to boost efficiency, lower maintenance efforts, and increase reliability across diverse applications. For example, Furuno USA, Inc., a marine electronics firm based in the U.S., rolled out the FAR2XX8MK2 commercial radar series in July 2024. This range is built to augment operations and safety at sea with clearer, precise radar visuals. It boasts stress-free maintenance, user-friendly controls, and superior tracking functionalities making it efficient and accessible for maritime functions. Besides, the implementation of a brushless DC motor leads to longer operation durations without requiring frequent maintenance, thereby further decreasing downtime.

What Are the Main 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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Which Top Companies are Driving Growth in the Naval Radar Market?
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

Which Regions Will Dominate the Naval Radar Market Through 2029?
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.

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