Naval Radar Global Market Report 2024

The naval radar market size has grown strongly in recent years. It will grow from $11.94 billion in 2023 to $12.67 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed during the historic period can be attributed to several factors, including an increasing focus on strengthening and expanding naval fleets, a rise in the procurement of radar and air defense systems, the demand for new-generation air and missile defense systems, and an increase in disposable income.

The naval radar market size is expected to see steady growth in the next few years. It will grow to $15.36 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The anticipated growth in the forecast period can be attributed to several factors, including the rising demand for coastal surveillance, increasing global trade through shipping, rising disposable income, an increasing number of high net-worth individuals around the world, and increasing spending on the upgradation of advanced naval systems on ships. Major trends expected in the forecast period include technological advancements in the naval radar industry, advancements in radar technology, investment in research and development to expedite the launch of novel systems with advanced capabilities, a rise in adoption of lightweight unmanned aerial vehicles (UAV), and the adoption of multi-function radar systems.

The anticipated increase in defense budgets allocated to coastal surveillance is expected to drive the expansion of the naval radar market in the future. These budgets are instrumental in supporting coastal surveillance efforts through funding for equipment, technology development, infrastructure, training, and coordination, thereby bolstering maritime security and safeguarding coastal regions. Naval radar systems play a pivotal role in coastal surveillance by enabling continuous monitoring of marine activities along coastlines, facilitating the detection and tracking of vessels, monitoring maritime traffic, and supporting marine security and law enforcement operations. For instance, as reported by the United States Department of Defense, the US Navy's budget proposal for fiscal year 2024 amounted to $211.7 billion, reflecting a 1.8% increase compared to the previous year. This budget allocation included specific funding allocations such as $58.5 billion for shipbuilding and conversion, $18.8 billion for weapons procurement, $49.8 billion for operation and maintenance, and $20.4 billion for research and development initiatives. Consequently, the rise in defense budgets earmarked for coastal surveillance initiatives is propelling the growth of the naval radar market.

Key players in the naval radar market are focused on developing innovative products, such as quadome radar systems, to cater to the growing demand for rapid response and high precision in surveillance operations. The quadome radar system is a dual-mode, multi-mission surveillance radar designed for naval air and surface surveillance, offering naval forces and maritime security authorities enhanced situational awareness and swift reaction capabilities. For instance, in September 2021, Hensoldt AG, a Germany-based defense and security electronics manufacturing company, introduced the Quadome radar system tailored for offshore patrol vessels (OPVs), corvettes, light frigates, and support vessels. This radar system is equipped with the latest gallium nitride (GaN)-based active electronically steered antenna (AESA), ensuring a future-proof solution with an extended operational lifespan. It also features two primary operating modes aimed at simplifying operator interaction and reducing workload.

In July 2023, BAE Systems plc, a US-based company specializing in defense, aerospace, and security systems, acquired Radio Frequency Systems Pty Ltd. for an undisclosed amount. This acquisition is intended to safeguard Australia's intellectual property, particularly in high-frequency radar and communications antenna designs, ensuring their status as sovereign capabilities. Radio Frequency Systems Pty Ltd., headquartered in Australia, is renowned for providing advanced naval radar and communication systems.

Major companies operating in the naval radar market are RTX Corporation, Lockheed Martin Corporation, Airbus Group, Northrop Grumman Corporation, BAE Systems PLC, Thales Group, Leonardo S.p.A., Rheinmetall AG, Garmin Ltd., SAAB AB, Israel Aerospace Industries Ltd., Hensoldt AG, Japan Radio Co., Furuno Electric Co. Ltd., West Marine, Navico Group, Aselsan A.S., Tokyo Keiki Inc., Terma A.S., Alphatron Marine, Koden Electronics Co. Ltd., GEM Elettronica, Kongsberg Maritime AS, FLIR Systems Inc., Kelvin Hughes Limited, Rutter Inc., Transas Marine International AB, Wärtsilä SAM Electronics Gmbh.

North America was the largest region in the naval radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the naval radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the naval radar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Naval radar encompasses radar systems tailored for maritime vessels to uphold situational awareness, detect and track potential threats, and support various naval operations, including search and rescue, maritime patrol, and combat operations. These systems are engineered to be robust and operate effectively in challenging marine environments, including adverse weather conditions, sea clutter, and electronic warfare threats.

The primary types of naval radar include naval surveillance radar, naval fire control radar, and naval navigation radar. Naval surveillance radar refers to radar systems specifically designed for use on naval vessels to detect and track surface targets, such as ships, boats, and other maritime threats. Various components such as antennas, transmitters, receivers, and power amplifiers are employed for naval ships, submarines, unmanned surface vehicles, and other applications.

The naval radar market research report is one of a series of new reports that provides naval radar market statistics, including naval radar industry global market size, regional shares, competitors with a naval radar market share, detailed naval radar market segments, market trends and opportunities, and any further data you may need to thrive in the naval radar industry. This naval radar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The naval radar market consists of revenues earned by entities by providing services such as naval radar system installation and integration services, maintenance and support services, training and consultancy services, upgrades and retrofitting services, and customization services. The market value includes the value of related goods sold by the service provider or included within the service offering. The naval radar market also includes sales of antenna, transmitter, receiver, signal processor, display, and control interface and power supply. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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