Radar System Global Market Report 2024

The detection and location of objects, such as ships, vehicles, and aircraft, are accomplished by the radar system through the use of electromagnetic signals. Radar systems function by emitting electromagnetic energy into space and subsequently analyzing the echo produced when the radiated energy reflects off an object.

Key components of the radar system encompass the transmitter, receiver, antenna, and various other elements. The transmitter, an electronic device employed in telecommunications, is integral to the radar setup. Diverse technologies, such as continuous wave (CW) radar and pulsed radar operating within frequency bands like X-band, S-band, and C-band, find application in air traffic control, remote sensing, ground traffic control, space navigation and control, and various other scenarios. The end users of these technologies span aviation, maritime applications, automotive industries, as well as military and defense sectors.

The radar system market research report is one of a series of new reports that provides radar system market statistics, including radar system industry global market size, regional shares, competitors with a radar system market share, detailed radar system market segments, radar system market trends and opportunities, and any further data you may need to thrive in the radar system industry. This radar system 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 radar system market size has grown rapidly in recent years. It will grow from $31.71 billion in 2023 to $34.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The increase observed in the historical period can be ascribed to military modernization, an increased demand for surveillance and border security, advancements in weather forecasting capabilities, a surge in air traffic, and the expansion of smart cities.

The radar system market size is expected to see strong growth in the next few years. It will grow to $49.94 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The anticipated growth in the forecast period can be linked to geopolitical tensions, the imperative for enhanced maritime surveillance, the increasing prevalence of autonomous vehicles, a rise in defense budgets, and the emergence of new markets. Noteworthy trends expected during this period encompass cognitive radar, miniaturization, the utilization of frequency modulated continuous wave (FMCW) radar, digital beamforming, and synthetic aperture radar (SAR).

The growth of the radar system market is expected to be propelled by the increasing utilization of radar systems for weather monitoring. These systems, utilizing electromagnetic signals, play a crucial role in detecting and locating objects. In weather monitoring, radar systems provide essential data for understanding weather patterns, improving forecasts, issuing flood warnings, supporting hydrological applications, and contributing to climate research. For instance, the India Meteorological Department (IMD) initiated operations for four new Doppler weather radars equipped with drone-based observation technology in January 2022. These radars enhance weather forecasting by offering improved rainfall monitoring and hydrometeor classification through dual-polarization technology, distinguishing between snow, rain, and hail. Consequently, the rise in the use of radar systems for weather monitoring significantly drives the radar system market's growth.

The anticipated growth of military expenditure is poised to boost the radar system market further. Military expenditure, encompassing funds allocated for sustaining armed forces and defense, contributes to the radar system market's expansion. Factors driving this growth include the demand for lightweight radars, increasing concerns about fortifying defense capabilities, technological advancements, government initiatives, and substantial investments. For instance, global military spending reached 2.08 trillion in 2021, up from 1.95 trillion in 2020, according to an analysis by the World Bank in April 2022. As a result, the escalating military expenditure acts as a key driver for the radar system market's growth.

The radar systems market is being shaped by the advent of 4D electronically scanned array radars. Numerous companies in the radar systems sector are focusing on developing innovative 4D electronically scanned array radars to meet evolving customer requirements. For instance, Echodyne, a US-based radar solutions provider, introduced EchoShield in October 2021. This radar, based on pulse-Doppler cognitive 4D technology, combines real-time dynamic waveform synthesis with electronically scanned array (ESA) beamforming. It achieves sub-degree tracking accuracy for hundreds of objects across a vast 3D field of view, catering to various commercial, defense, and government applications.

Major players in the radar system market are driving innovation by developing advanced products, such as high-performance radar sensing, incorporating features like automated emergency braking and blind-spot detection. High-performance radar sensing involves advanced radar technology that enhances resolution, accuracy, and detection capabilities. For instance, NXP Semiconductors, a Dutch semiconductor designer and manufacturer, unveiled a 28nm RFCMOS radar one-chip for safety-critical Advanced Driver Assistance Systems (ADAS) applications in January 2023. This SAF85xx one-chip family integrates NXP’s high-performance radar sensing and processing technologies, offering flexibility to address short, medium, and long-range radar applications.

In December 2021, aerospace company Joby Aviation, based in the US, acquired Inras GmbH, a company in Austria specializing in radar system design. This strategic acquisition aimed to strengthen Joby's in-house RandD capabilities, particularly in developing radar systems for onboard sensing and navigation.

Major companies operating in the radar system market include BAE Systems Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Ltd., Saab AB, Thales Group, Honeywell International Inc., General Dynamics Corporation, Israel Aerospace Industries Ltd., Reutech Radar Systems Ltd., Elcome Integrated Systems Pvt. Ltd., L3Harris Technologies Inc., NXP Semiconductors N.V., Infineon Technologies AG, Hensoldt Corp., Indra Sistemas SA, Rheinmetall AG, Safran SA, Terma A/S, Serco Group PLC, FLIR LLC, Aselsan AS, SRC Inc., ELTA Systems Ltd., Mercury Ltd., RADA Electronic Industries Ltd., International Foodstuffs Co., Cobham Inc., Telephonics Corporation

North America was the largest region in the radar systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the radar systems market share during the forecast period. The regions covered in radar system market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the radar system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The radar system market consists of sales of technology such as continuous wave radar and pulsed radar. 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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