The global radar market is growing at a considerable CAGR of 3.7% during the forecast period. Increasing adoption of system owing to growing demand of weather-based application is one of the prime factors affecting and driving the market. Increasing investment in military and security along with easy penetration of mediums that includes clouds, fogs and snow among others is also estimated to be the key factors that are contributing significantly towards the growth of the market. However, high cost that is involved in radar systems is the major factors constraints that are hindering the growth of the global radar market across the globe. 

Further, growing possibility of data collection in industrial segment along with rising funding in systems in radar are some of the key factors that are creating opportunity for the market. New strategic launch in the market are likely to drive the growth of the global radar market. For instance, in June 2020, L3Harris Technologies, Inc. had received the contract from the US Defense Government in order to develop, test and deliver AN/SPS-48G(V)1 radar data processor along with radar display.  

Impact of COVID-19 Pandemic on the Global Radar Market 

The global radar market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic had brought a lot of disruption across the globe. Due to COVID-19 pandemic the manufacturing activities were adversely impacted across the globe and that had brought disturbance in exports which is creating problem for the growth of the radar market. 

Segmental Outlook 

The market is segmented based on type, application and range. Based on type, the market is segmented into pulsed radar and continuous wave radar. By application, the market is segmented into weather monitoring, automotive, industrial and aerospace and defense. Further based one range the market is segmented into short range radar, medium range radar and high range radar.

Global Radar Market Share by Type 2020 (%)

Based on type, the pulsed radar segment is having a significant share in the market. A pulsed radar is a radar system that supports in targeting the distance around more than 200 nautical miles. Additionally, it can measure velocity along with range accuracy and resolution in existence of multiple targets and also offers better performance for low speed targets that are airborne. 

Regional Outlooks

The global radar market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global radar market. Some factors that are boosting the market growth in North America are raising adoption of radar systems in automotive along with big amount of investment in military and security. Additionally, Canada had invested around $2.7 million in making a new technology in order to detect the stealth aircraft in better manner that is named as quantum radar. This technology had been made by the University of Waterloo. 

Global Radar Market, by Region 2021-2027

Asia-Pacific will have Considerable Growth in the Global Radar Market

Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing demand in application related with weather is likely to drive the growth of the regional market. Additionally, rising investment in defense sector in the region especially in South Korea, China and India are supporting the growth of the market. Further, rapid income growth, growing research and development is also some of the factors that are affecting and impacting the growth in this market. 

Market Player Outlook

Key players of the global radar market are Accipiter Radar, BAE Systems, Cambridge Pixel Ltd., HENSOLDT, and L3Harris Technologies, Inc., among others. To survive in the market, these players adopt different marketing strategies such as product launches and acquisition. For instance, in March 2021, Fortem Technologies, Inc., had done the strategic alliance with Toshiba Corp., in which Toshiba corp. had done the investment around $15 million for the purpose of contributing to ensure infrastructure security. 

In February 2021, HENSOLDT had introduced one of its new radar business that is the Air Traffic Management (ATM) and Defense & Security at the end of 2020.

In October 2020, Boeing with its B-52 Radar Modernization Program (RMP) had accomplished the preliminary design review (PDR) in order to enhance the moving plan to the B-52 closer to completion. The technology will support the capabilities for the venerable aircraft in order to boost the navigation accuracy, high resolution mapping along with target detection and tracking.

In October 2020, Northrop Grumman had got the contract for around $91 million in order to produce AN/APR-39D(V)2 digital radar warning receivers (RWR). This system supports in mechanically initiated optimal defensive measures along with extension capability for RF countermeasures.

In August 2020, General Motors had planned to bring vehicles that has the capability of 5G connectivity for its customers in china starting from 2022. This new technology in vehicles will offers advanced driver-assist systems that turns on connectivity along with sensors and radars on the vehicles.

In January 2020, Lockheed Martin Corp. had done the partnership with the US Government, Spain, Japan, and Canada, in order to provide next generation radar for front-line defense with effective air and missile defense capabilities.

In June 2019, Elta Systems Ltd. had introduced ELM-2084 MS-Multi-Mission Radar (Multi-Sensor MMR). This radar supports in covering broad range of area that is around 250 km in order to monitor, track along with interception of several airborne projectiles.

In March 2019, ASELSAN A.?. had launched its project named as the F-16 AESA Nose Radar Development project in order to achieve the requirement for modernization of the radars in Air Force Command inventory. The new F-16 aircraft will be having Active Electronically Scanned Array (AESA) antenna technology involve in it for effective outcome.    

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

    • Key companies operating in the global radar market .Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

    • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market-entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where in the market.