(I-BusinessNews.Com, August 19, 2020 ) The report on the Surveillance Radar Market provides a detailed trend analysis from 2018 to 2025. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
The global Surveillance Radar market size is projected to grow from USD 8.0 billion in 2020 to USD 11.5 billion by 2025, at a CAGR of 7.6% from 2020 to 2025. The market is driven by various factors, such as the advancement in border surveillance systems, ongoing military modernizations, demand for border surveillance, and the need for advanced air defense systems among others.
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Based on the dimension, the 3D segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the need for modern drone surveillance for airports, air defense systems, airborne defense systems, and modern naval surveillance radars for surface-to-surface and surface-to-air surveillance. Saab AB (Sweden) offers portable 3D radars for short-range air surveillance. Giraffe 1X is a lightweight 3D radar, which can be integrated on multiple mobile platforms and can be used to track drones and provide a warning against incoming rocket, artillery, and mortar rounds. The radar is capable of classifying 100 different targets simultaneously.
Based on the component, the digital signal processors segment of the market is projected to grow at the highest CAGR during the forecast period. The growth in this segment can be attributed to the extensive use of active and passive electronically scanned array surveillance radars in the defense & space segment. Digital signal processors can decode Radio Frequencies (RF), and Immediate Frequency (IF) quickly and encrypt or decrypt information to be transmitted in a short span of time. Digital signal processors are a prerequisite to using Active Electronically Scanned Array surveillance radars.
Based on the platform, airborne segment of the market is estimated to have the largest share during the forecast period. The airborne segment includes fighter aircraft, helicopters, and unmanned aerial vehicles. The growth in the use of electronic warfare has made countries invest in radars with in-built electronic warfare countermeasure systems. The ongoing military modernizations for aircraft surveillance radars are expected to have a significant impact on the surveillance radars market in North America.
Based on the region, the North America region of the Surveillance Radar market has the highest market share during the forecast period. The surveillance radars market in the North American region is expected to witness substantial growth during the forecast period due to the ongoing modernizations of aircraft, ships, border surveillance systems, among others. According to an article published in by The Intercept on 25th August 2019, the US Customs and Border Patrol (CBP) are planning to install 10 surveillance towers across the Arizona border under a USD 26 million contract with Elbit Systems (Israel). Cross-border conflicts, high illegal immigration rates, and drug trafficking have led to the US Homeland Security investing heavily in border security and detection systems. The US Customs and Border Protection has started installing surveillance towers across the Texas border.
Raytheon Technologies Corporation (US), is engaged in an ongoing modernization program to upgrade the US Department of DefenseÂs AN/MPQ-65A C-band combined ground-based air surveillance radars and fire control radars with Gallium Nitride (GaN) and Active Electronic Scanned Array technologies
Key Market Players
Key players of Surveillance Radar companies are based in North America. These players includeLockheed Martin Corporation (US), and Raytheon Technologies Corporation (US), are some of the leading players that manufacture advanced surveillance radars and multi-function radars for the naval, land, and airborne platforms. These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific.
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Mr. Aashish Mehra