Radar System Market Size to Reach US$ 42.2 Billion by 2028 | Industry CAGR of 3.3%
According to the latest report by IMARC Group, titled, “Radar System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “, Offers a comprehensive analysis of the industry, which comprises insights on the radar system market share. The global radar system market size reached US$ 33.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.
Market Overview:
Radio detection and ranging (RADAR) is an electromagnetic-based detection system that radiates electromagnetic waves and studies the reflected echoes. It helps in locating an object accurately and assessing its target speed. It is widely used in military operations for naval, ground, and air defense purposes. It is also employed to track and detect satellites and spacecraft, and guide an aircraft for proper landing and take-off during bad weather conditions. Besides this, it finds application in air traffic control, remote sensing, ground traffic control, and space navigation applications.
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Radar System Market Trends and Drivers:
The flourishing automotive industry and increasing use of advanced safety features in passenger cars and other transportation systems represent one of the key factors positively influencing the market. In addition, radar systems are employed for digital signal processing due to their capability of identifying signals from high noise levels generated by other electronic components. Moreover, the rising applications of radar systems in weather monitoring on account of the ability of radar signals to penetrate through fog, clouds, snow, and mist are propelling the market growth. Furthermore, the increasing use of radar technology in the healthcare sector for monitoring signals associated with respiration, heartbeat, and blood pressure is creating a positive market outlook.
Radar System Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- BAE Systems Plc
- Dassault Aviation
- General Dynamics Corporation
- Honeywell International Inc.
- L3harris Technologies, Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Company
- Rockwell Collins Inc.
- SAAB AB
- Thales Group.
The report has segmented the market based on type, component, range, application and frequency band.
Breakup by Type:
- Pulse Radar
- Continuous Wave (CW) Radar
Breakup by Component:
- Antenna
- Transmitter
- Receiver
- Others
Breakup by Range:
- Short Range Radars
- Medium Range Radars
- Long Range Radars
Breakup by Application:
- Air Traffic Control
- Remote Sensing
- Ground Traffic Control
- Space Navigation and Control
- Others
Breakup by Frequency Band:
- X Band
- S Band
- C Band
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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