The global security and surveillance radar market was worth around USD 8,329.70 million in 2021 and is estimated to grow to about USD 12,783.66 million by 2028, with a compound annual growth rate (CAGR) of approximately 7.4 percent over the forecast period.
The global security and surveillance radar market was worth around USD 8,329.70 million in 2021 and is estimated to grow to about USD 12,783.66 million by 2028, with a compound annual growth rate (CAGR) of approximately 7.4 percent over the forecast period. The report analyzes the Security and Surveillance Radar market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Security and Surveillance Radar market.
Security and surveillance radars are of paramount importance in the modern world as without security or surveillance the world would be prone to risks from fringe elements looking to mooch off the vulnerabilities. Increasing modernization in defense and security is expected to majorly influence security and surveillance radar market growth over the forecast period.
The rising need for defense advancements across the world has increased the demand for multiple systems and subsequently driven the security and surveillance radar market growth as well. Rapid advancements in these systems will also prove to be a major beneficial factor for the security and surveillance radar market through 2028.
However, regulatory compliance and lack of standardization of these systems will prove to be a major restraint for the security and surveillance radar market potential in the long run for sales of security and surveillance radar across multiple nations.
The rapid spread of coronavirus infections across the world led the markets to paralysis and this also had an adverse impact on the security and surveillance radar market growth. The closure of multiple factories in the pandemic under the lockdown restrictions led to a downfall of security and surveillance radar market potential.
Lapses in the supply chain, shortage of raw materials, and lack of manufacturing and production capacity are some prime factors that further constrained the security and surveillance radar market potential in 2020. These factors led to constrained activity in the security and surveillance radar market growth and resulted in losses for security and surveillance radar companies.
The security and surveillance radar market is expected to make a comeback in the post-pandemic era as industrial activity resumes and the world gets back to normal. Security and surveillance radar manufacturers are expected to boost manufacturing capacity to meet a high surge in demand after a long lapse.
Rapid Technological advancements in surveillance systems
The use of autonomous drones and multiple advanced warfare systems has propelled the security and surveillance radar market growth. Multiple nations are focusing on border surveillance and patrol in order to avoid infringement on borders and keep track of illegal activities that are prevalent on borders such as illegal immigrants, and drug and human trafficking which are major issues prevalent in the modern economy.
Multiple countries are setting up advanced security and surveillance radar systems to bolster their border security and investments in border protection facilities will also further fuel the security and surveillance radar market potential over the forecast period. Security and surveillance radar companies are focusing on investing and developing specific solutions that will be catering to the special requirements of multiple nations across the world to boost security and surveillance radar market growth.
Regulatory challenges for Different Countries
Governments across the world have stringent regulatory norms that defense companies need to comply with and build products and systems according to those norms. Improper compliance with these norms could lead to negative implications on the security and surveillance radar market growth as the governments would not allow the deployment of such incompetent systems.
Non-compliance with these norms could also have severe implications such as reverse engineering by terrorists that could put border security at risk and lead to detrimental effects on the overall security of the nation.
The global Security and Surveillance Radar market are segregated based on Application, Frequency Band, Component, Dimension, Platform, Range, Type, Waveform, and region.
By frequency band, the Security and Surveillance Radar market is segmented into HF/ VHF/UHF-bands, L-bands, S-bands, C-bands, X-bands, Ku-bands, Ka-bands, and Multi-band. The Ku band segment is anticipated to have a bright outlook and expand at the fastest CAGR over the forecast period. Its wide beam coverage property is propelling its adoption.
Asia Pacific region will also see a substantial increase in demand for security and surveillance radar and this will be driven by rising internal conflicts among nations like India, China, and Pakistan over border infringements.
The market for Security and Surveillance Radar in North America will be the most lucrative market in the global landscape. High technological proliferation and increasing investments in the defense sector are expected to be prominent factors influencing the security and surveillance radar market growth through 2028. The presence of key security and surveillance radar companies will also positively impact the security and surveillance radar market growth in this region. The most prominent country in this region will be the United States and will see high demand for security and surveillance radar systems in order to deal with drug trafficking that’s a major issue in its neighboring country of Mexico. Increasing investments from the government and advancing technology are other factors that drive the security and surveillance radar market potential in the United States.
Some of the main competitors dominating the global Security and Surveillance Radar market include - Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Hensoldt (Germany), and Israel Aerospace Industries Ltd. (Israel), and Leonardo S.p.An (Italy).
Global Security and Surveillance Radar market is segmented as follows:
FrequentlyAsked Questions
Increasing demand for security and rising focus on border surveillance major trends that guide Security and Surveillance Radar market growth.
According to the Zion Market Research report, the global Security and Surveillance Radar market was worth about US$ 8329.70 million in 2021 and is predicted to grow to around US$ 12783.66 million by 2028, with a compound annual growth rate (CAGR) of around 7.4 percent.
The North America security and surveillance radar market will hold a dominant outlook over the forecast period owing to rising investments in the defense sector
Some of the main competitors dominating the global Security and Surveillance Radar market include -- Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Hensoldt (Germany), Israel Aerospace Industries Ltd. (Israel), and Leonardo S.p.A (Italy).
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