Global security and surveillance radar market expected to reach approximately USD 10.60 billion by 2024 globally, growing at a CAGR of around 6.12% between 2018 and 2024. The growth of global security and surveillance radar market is mainly attributed to the increased number of navigation radars used by UAV (Unmanned Air Vehicles).
The report covers forecast and analysis for the security and surveillance radar market on a global and regional level. The study provides historic data of 2015-2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the security and surveillance radar market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the security and surveillance radar market on a global level.
The report gives a transparent view of the security and surveillance radar market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the security and surveillance radar market. To understand the competitive scene in the security and surveillance radar market, an analysis of Porter’s Five Forces model for the security and surveillance radar market has also been covered. The study also offers an attractiveness analysis for security and surveillance radar market, wherein the type of platform and regional segments are marked based on their market size, growth rate, and also with general attractiveness for security and surveillance radar market.
The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, product and regional expansion of major participants involved in the market on a regional basis
The study provides a crucial view of the security and surveillance radar by segmenting the market based on the type of platform and regions. All the segments of security and surveillance radar market have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. Maritime security and surveillance radar, land-based security and surveillance radar and airborne security and surveillance radar are the key type of platform segment for security and surveillance radar market. The regional segmentation comprises the current and forecast demand for the Middle East & Africa, North America, Europe, Latin America, and the Asia Pacific with its further divided into the U.S., France, Germany, UK, China, India, Japan and Brazil for security and surveillance radars market.
The competitive profiling of key players of security and surveillance radar market includes a company overview and financial overview, a product offered by them which can help in assessing competition in the market, business strategies adopted by them and their recent developments. Key players included in the report are BAE Systems, Cobham Plc, Thales Group, Boeing, Industries, Raytheon Co., ATC Global, Exelis, Scanter, Honeywell International, Northrop Grumman, Rockwell Collins, Finmeccanica, Airbus Group, Lockheed Martin Israel Aerospace, Kelvin Hughes and SAAB amongst others.
The report segments of the global security and surveillance radar market as follows:
Global Security and Surveillance Radar Market: Type of Platform Segment Analysis
Global Security and Surveillance Radar Market: Regional Segment Analysis
Radar is known as an object-detection system that takes radio waves to decide the altitude, range, speed, or direction of objects. Radar security systems are useful to detect ships, motor vehicles, aircraft, and people. The radar antenna or dish transmits pulses of microwaves or radio waves that bounce off every object in their way. A small part of the wave's energy is returned by the object to the antenna or dish that is typically located at the same site as the transmitter.
The growth of global security and surveillance radar market is mainly driven by the rise in the number of navigation radars used by UAV (Unmanned Air Vehicles). Increasing demand for lightweight radars, energy-efficient over traditional radars, and amplified procurement for national security are some of the major factors predicted to contribute to the security and surveillance radar market growth in the analysis period. In addition, topical issues such as on East and South China seas coupled with modernization and replenishment programs are estimated to surge the demand for security and surveillance radars in the analysis period. Uncertainty and changes in military operations may pose to be a major challenge for the security and surveillance radar market growth. Further, technology advancements in the radar system are expected to open up new growth opportunities for the security and surveillance radar market in the near future.
Based on the type of platform, the global security and surveillance radar market is bifurcated into maritime security and surveillance radar, land-based security and surveillance radar, and airborne security and surveillance radar. Maritime security and surveillance radar are predicted to be the most lucrative type of platform for security and surveillance radar market. Land-based security and surveillance radar are also likely to show remarkable growth in the analysis period.
North America held the largest market share for the security and surveillance radar market in 2017. Modernization and replenishment programs in the region emerged as a primary factor which fuelled the growth of security and surveillance radar market in coming years. Current technological advancement paired with the energy efficiency of this radar and increasing demand for land-based security and surveillance radar is expected to be some of the major driving factors to fuel the demand for security and surveillance radar market in Europe. In addition, Asia Pacific is considered as the fastest growing market and is estimated to hold the highest CAGR due to the low cost of security and surveillance radar compared to traditional radars.
Some of the noticeable players in the global security and surveillance radar market are ATC Global, Exelis, Scanter, Honeywell International, Northrop Grumman, SAAB, Rockwell Collins, Finmeccanica, BAE Systems, Cobham Plc, Thales Group, Boeing, Raytheon Co., Airbus Group, Lockheed Martin, Israel Aerospace Industries, and Kelvin Hughes, amongst others.
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