Global Radar Market Size, Share & Trends Analysis Report 2020-2027
The global Radar market size was estimated at USD 31.45 billion in 2019 and it is anticipated to grow at a CAGR of 3.7% from 2020 to 2027. Growing demand from the automotive & defense industries is driving radar market growth. These systems are also gaining high importance in meteorological monitoring, air-traffic monitoring, guided missiles, marine, weather monitoring, and other niche industries. Technological advancements are bringing innovation in Radar systems, companies are focusing on developing a compact, low-cost & highly accurate Radar systems.
Governments across the world are investing high on their defense & security as there are growing threats of terrorism, cross-border infiltration, illegal immigration, aerial attacks, etc. Thus it becomes crucial for each country to adopt a highly advanced and accurate defense system to combat adverse situations. Radar has been part of various defense systems for a long time especially technologies used in the marine & air-force.
Radar systems are widely used for tracking and tracing of ships, aircraft, vehicles, mapping of various places on earth, observation of ancient structures for repair and maintenance. The radar system is also used in unconventional applications such as tracking of rare birds and insects from an Ornithological and entomological perspective. There is substantial growth in demand for continuous weather monitoring in the agricultural sector. The radar systems provide adverse weather alerts such as cyclones, floods, and heavy rainfall. These advance alerts help the farmer to prepare themselves for the unprecedented weather forecast.
The radar system plays a key role in improving the aircraft and ship safety, and timely updates the captain about changing weather forecast. This helps to avoid serious economic damage and saves millions of human lives each year. The data obtained from the weather radar is used by advanced weather forecasting systems such as AWIPS and ITWS. Together this system provides a Holistic picture of the weather forecast and his to accurately get the Future Atmospheric conditions.
Automotive companies Around The World are investing in the research and development activities to develop fully autonomous vehicles, the radar sensors play the most crucial role in preparing autonomous vehicles. Currently, most of the advanced driver assistance systems use radar for improving the accuracy of various ADAS such as Park Assist, Lane change alerts, autonomous emergency braking among others. The radar sensor helps the vehicle to identify and avoid obstacles from all sides of the vehicle. The growing vehicle automation shall positively benefit the radar system market over the forecast period.
As per Wikipedia, radar is a system that utilizes radio waves to determine the range, angle, or velocity of objects. A typical RADAR system comprises three important parts including transmitter, receiver, and processor.
The transmitter generates and transmits electromagnetic waves including radio /microwaves in the direction of the object, the waves bounce back from the object surface which is then detected using a receiver antenna, and finally, the processor determines the range, angle, or velocity of objects based on the time taken by waves to return to the antenna.
Key components used in Radar are Antenna, Transmitter, Receiver, and Others. The antenna performs a function of sending & receiving the signals. Transmitter uses DRO (dielectric resonant oscillator) or a gun oscillator device to generate microwave signals which are then amplified using an amplifier to increase signal strength. the transmitted signals then bounce on the surfaces in the path and returns towards the radar, these returned signals are then captured via a receiver, which transfers it for processing. An automated gain control device is attached to the receiver to refine the returning echos. The signals are intensified by a low noise amplifier (LNA). Other components used in Radar are Diplexer, Phase-Lock Loop (PLL), processing unit among others.
The transmitter segment accounts for the largest market share in 2019, as this is the most expensive component in the whole Radar system. The antenna system accounts for 23% in the Radar market share, companies are trying to enhance the antenna system for better accuracy of these systems. The Radar has gained much popularity since the last few years, as companies are experimenting on self-driving cars and Radar is among the most important sensor for such cars.
The Radar services include Installation/Integration, Support & Maintenance, and Training & Consulting. The installation & support services are among the most required Radar services, in this service the vendor provides complete Radar installation and testing environment to various end-user segments such as Aerospace, Automotive, Marine, and others.
The demand for support and Maintenance Services is steadily growing, as the radar system required timely maintenance and calibration for accurate results. The increasing deployment of Radar for various applications is positively benefiting the maintenance and support services market segment.
The growing deployment of the Radar system in aircraft is anticipated to boost the airborne radar market. The radar system helps aircraft, military helicopters, cargo aircraft to accurately measure the distance, surface area, and type of an obstacle. An increasing number of commercial planes is anticipated to boost the market growth.
The ground-based system segment is expected to emerge as the fastest-growing segment over the forecast period, To as the defense and military are trying to innovate the existing weapons such as anti-ballistic missile using radar for or accurate target hit it and avoiding loss of civilian lives.
The X-Band segment which is used in ships and cargo vessels is expected to witness a high growth rate. The growth can be attributed to increasing sea transport and cargo shipping trends. These ships need to continuously monitor the sea surface over a few kilometers To avoid any collision with the other ships or obstacles.
The growing usage of the S-band radar system in commercial airplanes and military helicopters is expected to improve the market share between 2020 to 2027. The S-band radar is widely used in an antenna, weather forecasting, communication satellite among others.
The Global radar system market can be segmented based on the range into long-range, medium-range, and short-range radar. The long-range segment accounted for the largest Market share in 2019 owing to its increasing application in the aerospace and defense sector. The long-range radar is used for surveillance and target detection in the defense sector. Growing border conflicts between a country such as India-China-Pakistan, U.S.-Mexico, Israel-Palestine result in Substantially increasing defense budget of these countries, this development shall positively benefit the long-range radar market as most of the budget is spent on the air defense system.
The demand for medium-range radar is expected to boost in upcoming years, owing to its increasing application in the automobile industry for vehicle automation and ADAS application.
The military and defense segment accounted for the largest radar market share in 2019, the research and development department in this sector are utilizing the radar system in various weapons and defense systems. Radar helps the military to detect an object such as weapons, missile, tanks, enemy forces, terrorist hidden places in various places including dense forest, desert, and snow mountains.
Radar is widely used in the automobile industry for vehicle automation and ADAS features switch Adaptive cruise control, lane change assist, parking assistance system, collision avoidance system, etc. Substantial growth in Air Traffic has resulted in high demand for further assistance from the Aerospace sector, the segment is expected to grow at a moderate pace between 2020 to 2027.
The North America radar market dominated the global market in 2019, United States is one of the largest defense equipment manufacturer in the world, the country is is also the largest exporter of commercial aircraft, therefore beat account for the largest radar market share.
Asia Pacific region is expected to emerge as the fastest-growing region in the upcoming few years, as the regional Automotive and electronics market is growing substantially, the number of new companies entering the radar ecosystem is also higher from this region.
The report incorporates detailed company profiles of following key radar market players including company overview, financial performance, product portfolio, strategic developments:
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