Surveillance Radars Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
Surveillance Radars Market is set
to gain traction from the rising investments by the U.S. in the deployment of
surveillance radar-based unmanned aerial vehicles (UAVs) for enhancing
battlefield operations. This information is given by Fortune Business Insights™
in a new study, titled, “Surveillance Radars Market Size,
Share & COVID-19 Impact Analysis, By Platform (Airborne, Ground, Naval, and
Space), By Application (Commercial, Military, Homeland Security, Others), By
Radar Type (Short Range Surveillance Radar, Medium-Range Surveillance Radar,
and Long Range Surveillance Radar), and Regional Forecast, 2020-2027.” The
study further mentions that the market size was USD 7.33 billion in 2019 and is
anticipated to reach USD 11.78 billion by 2027, exhibiting a CAGR of 8.21%
during the forecast period.
COVID-19 Pandemic to Hamper Growth by
Declining Demand for New Defense Agreements
The aerospace and defense industry is experiencing
huge economic losses on account of the COVID-19 pandemic. This is mainly
occurring because of the rising disruptions in the supply chain ecosystems of
various companies. Government bodies are also imposing stringent rules, such as
lockdown and social distancing to prevent transmission. It is resulting in the
cancellation or lower demand for new defense agreements. Our reports will help
you pave the way towards success even under such difficult circumstances by
selecting the right strategy.
How Did We Create This Report?
Our highly skilled team of analysts has
conducted extensive primary and secondary research to gather data about the
surveillance radars industry, its parent market, and peer markets. To validate
this information, interviews with reputed industry experts were conducted. The
data triangulation and market breakdown procedures were utilized to estimate
the sizes of segments. Key companies were selected through secondary research
by evaluating financial reports. The report also provides all the growth
drivers, restraints, challenges, and opportunities available in the market.
Drivers & Restraints
Increasing Border and Coastal Security
Issues to Accelerate Demand
The high demand for next-generation
combat aircraft from various countries, such as India, China, and the U.S. is
surging. This is occurring because of its possession of high tactical
capabilities required during warfare. The rising issues associated with coastal
and border security is expected to augment the demand for UAVs enabled with
surveillance radars. Besides, the increasing trend of modernizing military
aircraft fleet would surge the number of new aircraft orders. It would also
bolster the demand for surveillance radars. However, fundamental theories and
techniques often limit the performances and sizes of the radar system. It may
obstruct the surveillance radars market growth.
Segment
Long-range Surveillance Radar Segment to Grow Rapidly
Stoked by Increasing Usage of OTH Radars
Based on radar type, the long-range
segment held 40.23% in terms of the surveillance radars market share in 2019.
It is set to showcase the highest CAGR throughout the forthcoming years backed
by the higher adoption of over-the-horizon (OTH) radars for detecting targets
from longer distances.
Regional Analysis
North America to Dominate Backed by
Presence of Renowned Companies
Geographically, in 2019, North America
generated USD 3.62 billion in terms of revenue. It is set to dominate in the
near future because of the presence of a large number of prominent companies,
such as Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon
Technologies in this region.
Asia Pacific, on the other hand, is set
to be the fastest-growing region fueled by the rising expenditure of regulatory
bodies on naval-based systems and military land. The Middle East & Africa
is set to exhibit significant growth in the coming years backed by the
increasing number of new aircraft orders from airlines in Saudi Arabia and the
U.A.E.
Competitive Landscape
Key Players Focus on Winning New Orders
to Intensify Competition
The global market for surveillance
radars houses numerous manufacturers that are focusing on gaining new orders
from reputed agencies for their in-house products. Some of the others are
trying to adopt the acquisition strategy to gain a competitive edge.
List of the Leading Companies Profiled
in the Global Surveillance Radars Market are:
- Elbit Systems Ltd. (Israel)
- FLIR Systems Ltd. (The U.S.)
- Israel Aerospace Industries Ltd. (Israel)
- Leonardo S.P.A (Italy)
- Lockheed Martin Corporation (The U.S.)
- Raytheon Technologies (The U.S.)
- Saab AB (Sweden)
- Thales Group (France)
- Honeywell International Inc. (The U.S.)
- BAE Systems (The U.S.)
Below are the two latest industry
developments:
- September 2020: Indra
bagged a new contract from Hellenic Civil Aviation Authority (HCAA) to
offer radars and an air traffic surveillance system for Athens
International Airport, Greece. It also contains the delivery of
multilateration systems to identify approaching and ground aircraft.
- September 2020:
Raytheon Technologies received a contract worth USD 212.8 million from the
Missile Defense Agency to deliver support services for terminal high
altitude area defense radars of the U.A.E. it aims to prevent them from
ballistic missiles.
Browse Detailed Summary of Research
Report with TOC:
https://www.fortunebusinessinsights.com/surveillance-radars-market-104290
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements,
Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of COVID-19 Pandemic on Global
Surveillance Radar Market
- Impact of COVID-19 on Surveillance Radar Market
- Steps Taken by Industry/Companies/Governments to Overcome the
Impact
- Potential Opportunities Due to COVID-19 Outbreak
- Global Surveillance Radars Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Platform
- Airborne
- Ground
- Space
- Naval
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Military
- Homeland Security
- Others
- Market Analysis, Insights and Forecast – By Radar Type
- Short Range Surveillance Radar
- Medium Range Surveillance Radar
- Long Range Surveillance Radar
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
TOC Continued…!
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate
data, helping organizations of all sizes make timely decisions. We tailor
innovative solutions for our clients, assisting them to address challenges
distinct to their businesses. Our goal is to empower our clients with holistic
market intelligence, giving a granular overview of the market they are
operating in.
Our reports contain a unique mix of
tangible insights and qualitative analysis to help companies achieve
sustainable growth. Our team of experienced analysts and consultants use
industry-leading research tools and techniques to compile comprehensive market
studies, interspersed with relevant data.
At Fortune Business Insights™, we aim
at highlighting the most lucrative growth opportunities for our clients. We,
therefore, offer recommendations, making it easier for them to navigate through
technological and market-related changes. Our consulting services are designed
to help organizations identify hidden opportunities and understand prevailing
competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Comments
Post a Comment