North America Naval System Surveillance Radar Market Forecast to 2028- COVID-19 Impact and Regional Analysis- by Type and Application

The naval system surveillance radar market in North America is expected to grow from US$ 1719.60 million in 2022 to US$ 2,574.95 million by 2028. It is estimated to grow at a CAGR of 7.0% from 2022 to 2028.

Market Overview

US, Canada, Mexico are the key contributors to the naval system surveillance radar market in the North America. North America has the largest aerospace and defense market globally due to the various military, naval, and air forces. Over the years, the US increased its military spending on acquiring advanced and updated vessels, equipment, and communication. According to the data published by Stockholm International Peace Research Institute (SIPRI), the US recorded an increase in military expenses by 1.5% in 2020 compared to 2019. The increase in military expenditure by North American countries influences the growth of the naval system surveillance radar market. Further, according to Global Fire, the US has 68 submarine fleets, and Canada has 4 submarine fleets. The region leads in technological advancements and expenditure toward navy technologies that primarily drive the North America naval system surveillance radar market growth. Moreover, the region continuously witnesses the increase of radar systems for naval purposes. Further, the rising applications relevant to surveillance and analysis of radar systems for the navy and naval vehicles industry in the US, Canada, and Mexico are boosting this region's naval system surveillance market growth. For instance, in March 2020, Raytheon Missiles & Defense and the US Navy completed EASR engineering and production developmental testing. The Navy awarded the firm a US$ 126 million contract in July 2020 to manufacture four rotators and two fixed-faced radars. The growing demand for advanced and reliable radar systems is one of the major factors contributing to the growth of the naval system surveillance market. The rising trend for using surveillance radar applications to target radar cross-sections (RCS) with the help of radar systems across North America is also driving the North America naval system surveillance radar market growth.

North America Naval System Surveillance Radar Market Segmentation

The North America naval system surveillance radar market is segmented into type, application, and country.

• Based on type, the market is segmented into x-band and ku-band, l-band and s-band, and others. The x-band and ku-band segment registered the largest market share in 2022. Based on application, the market is bifurcated into weapon guidance system and surveillance. The surveillance segment held a larger market share in 2022. Based on country, the market is segmented into US, Canada, Mexico. US dominated the market share in 2022. Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Technologies Corporation; Saab AB; Thales Group; BAE Systems; Israel Aerospace Industries Ltd; Leonardo S.p.a; Ultra; and HENSOLDT. are the leading companies operating in the North America naval system surveillance radar market in the region.