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Surveillance Radars Market to See CAGR of 6.3% from 2019-2025
September 16, 2019 | PRNewswireEstimated reading time: 2 minutes
The surveillance radars market is projected to grow from $8.3 billion in 2019 to $11.9 billion by 2025, at a CAGR of 6.3% from 2019 to 2025. Some of the factors that are expected to fuel the growth of the surveillance radars market are the rising need for advanced surveillance radars to detect stealth aircraft and surveillance radars with electronic warfare countermeasures.
The airborne segment is estimated to grow at the largest share during the forecast period due to the increasing demand for airborne surveillance radars for intelligence, surveillance, and reconnaissance (ISR).
Based on the platform, the airborne segment is estimated to grow at the largest share during the forecast period due to the ongoing radar modernization programs by countries.The use of airborne radars for intelligence, surveillance, and reconnaissance (ISR) are increasing globally.
Air-to-surface and air-to-air surveillance are vital for gathering information on enemy locations, targets, and possible threats.Airborne surveillance allows for better battlefield surveillance.
Various countries, such as the US, Canada, and India, have upgraded their airborne surveillance capabilities to include modern 3D surveillance radars.
Based on application, the defense & space segment is estimated to account for the largest share of the surveillance radars market in 2019.The need for modern surveillance systems for border protection, ISR, and battlefield management are driving the demand for surveillance radars in the defense & space segment.
Modern surveillance radars are linked to battlefield management systems which enable commanders to take strategic, tactical decisions after analyzing the situation from a 360-degree angle. Surveillance radars provide vital information about the location and strength of enemy troops.
Based on the frequency band, the X-band segment is estimated to grow at the highest CAGR during the forecast period. X-Bands are reserved for government and military applications only.
X-Bands are the most commonly used frequency for military surveillance radars due to its ability to provide better target resolution. X-bands are widely adopted in marine radars.
X-band antennas are relatively smaller, and can be installed on smaller vehicles, and are one of the reasons why it is preferred.
The North American region is expected to lead the surveillance radars market in 2019.The market in the region is highly competitive, owing to the presence of a large number of original component manufacturers (OCMs) and original equipment manufacturers (OEMs) such as L3Harris, Raytheon Company, and Blighter Surveillance Systems, among others.
Increase in development of surveillance towers across the US-Mexico border is expected to drive the growth of the surveillance radars market in North America during the forecast period.
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