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(USGovernment-News.Com, July 27, 2020 ) 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 market are the growing need for 3D air defense radars, growing demand for drone detection radars for airports, and ongoing military modernizations globally, among others.
Based on the component, the digital signal processors segment of the surveillance radars market is projected to grow at the highest CAGR during the forecast period.
Based on the component, the digital signal processors segment of the surveillance radars market is projected to grow at the highest CAGR from 2019 to 2025. Radar upgrades include the switching of analog signal processors to digital signal processors. Active Electronically Scanned Array (AESA) radars require digital signal processors to handle/process all the data coming from each separate receive/transmit module in the antenna. AESA surveillance radars are used extensively in military airborne, naval, and air defense applications.
Based on the platform, airborne segment is expected to lead the surveillance radars market from 2019 to 2025.
Based on the platform, the surveillance radars market is segmented into land, airborne, Naval, and space. The growth of the airborne segment can be attributed to the increasing demand for surveillance via aircraft or Unmanned Ariel Vehicle (UAV). For example, L3Harris’ long-range surveillance radar, AN/APY-11 Multimode Radar is installed on the US Coast Guard’s Long-Range Surveillance HC-130J aircraft. It is used to intercept drug smugglers, locate stranded boats and track ice in the North Atlantic.
Based on application, the defense & space segment of the surveillance radars market is projected to grow at the highest CAGR from 2019 to 2025.
Based on application, the surveillance radars market has been segmented into commercial, defense & space, and national security. The increasing demand for surveillance radars in the defense & space segment is expected to have a significant impact on the market for surveillance radars. This increase in demand can be attributed to the need for border surveillance, and requirement of man-portable radars for battlefield surveillance, among others.
Asia Pacific surveillance radars market is projected to grow at the highest CAGR from 2019 to 2025.
Based on the region, the market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. Increasing demand for surveillance radars for border surveillance, intelligence, and reconnaissance, and modern air defense systems, among others, are expected to drive the demand in the region during the forecast period.
Key Market Players
The major players in the surveillance radars market are FLIR Systems, Inc. (US), ASELSAN A/S (Turkey), Lockheed Martin Corporation (US), Raytheon Company (US), Hensoldt (Germany), Saab AB (Sweden), Israel Aerospace Industries Ltd. (Israel), Leonardo S.p.A (Italy), Elbit Systems Ltd. (Israel), L3Harris (US), and Thales Group (France), among others.
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