NEWARK, Del, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The radar market worth is expected to total US$ 35,064.5 million in 2023 and US$ 97,195.2 million in 2033. Between 2023 and 2033, the market is expected to register a CAGR of 10.7%.
A high-resolution radar image became more precise and accurate as radar technology advanced. With increasing demand in areas like weather forecasting, environmental monitoring, and defense, the radar market is expected to grow.
Many industrial and commercial applications use radar technology. For example, radar is used for preventing collisions in automobiles, ground-penetrating radar is used for surveying and construction, and maritime radar serves as a navigation tool. Airborne radar platforms can be in high demand because of geopolitical tensions and conflicts.
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Systems that use RADAR can calculate the velocity of objects in motion. With the help of RADAR systems, radio signals can cover large geographic areas at once. Many industries across the economic spectrum can benefit from RADAR data.
Due to the radar's ability to function behind opaque surfaces, it also provides OEMs with significant packaging flexibility. The dielectric constant and the surface roughness of the soil can also be measured by radar to estimate soil moisture and water stress levels. As a result of analyzing the reflectivity and structure of the crops, radar is also capable of detecting pests and diseases.
Radar technology and innovations in agriculture are looking bright, driven by research and development that improves their efficiency, functionality, and affordability. Providing autonomous vehicles with safe navigation is impossible without radar sensors. With the deployment of AVs increasing, there will be an increasing demand for advanced radars that are more accurate, longer range, and better at detecting and classifying cyclists and pedestrians.
Satellites are equipped with radar technology for observing the Earth and exploring the planets. In the near future, radar instruments will be able to map and study celestial bodies in greater detail, and monitor the climate on Earth as it changes.
Emerging consumer electronics trends include gesture recognition based on radar and monitoring vital signs. Mobile devices, such as smartphones, smartwatches, and health monitors, could benefit from further innovation in health monitoring and touchless interfaces.
Scope of the Radar Market Analysis by Airborne Platform and Medium Range from 2023 to 2033:
| Attributes | Details | ||
| Estimated Market Size in 2023 | US$ 35,064.5 million | ||
| Projected Market Valuation in 2033 | US$ 97,195.2 million | ||
| Value-based CAGR 2023 to 2033 | 10.7% | ||
| Forecast Period | 2023 to 2033 | ||
| Historical Data Available for | 2018 to 2022 | ||
| Market Analysis | Value in US$ million | ||
| Key Regions Covered |
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| Key Market Segments Covered |
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Radar Market Trends and Highlights:
The radar sensor is one of the key technologies rapidly evolving in the market. Automotive radar systems are experiencing a significant amount of growth.
Vehicles are increasingly integrating radar sensors for advanced driver assistance systems (ADAS) and autonomous driving. Safety and autonomy are driving forces behind its development. As well as measuring car speeds on the road, radars are commonly used to measure tennis ball speeds.
Key Takeaways from the Radar Market Report:
- As the global radar market expands throughout the forecast period, the United Kingdom is expected to experience a CAGR of 10.1% until 2033.
- Among platform segments, airborne will capture 27.6% of the market share between 2023 and 2033.
- A growth rate of 4.3% is expected in Japan until 2033.
- The medium-range segment is expected to account for 40.5% of the market during the forecast period.
- The radar market in South Korea is expected to expand at a CAGR of 2.1% by 2033.
“The demand for radar is likely to increase as security and surveillance systems become more advanced. As military and airborne activities increase, radar systems are expected to grow in the market." says an FMI analyst.
Competitive Landscape:
As the bromine market has developed into a highly competitive environment since the beginning of this century, global demand has increased dramatically. Because of its expanded and more cost-effective service offerings, the company will be better positioned to compete in an increasingly competitive market.
Market Developments Include:
- In May 2023, Bharat Electronics Limited (BEL) and Thales signed a contract to supply Indian Navy surface ships with multifunction radar systems.
- In April 2023, Northrop Grumman introduced its Digital Affordable Sensor System (DASS), an airborne reconnaissance and surveillance radar system.
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More Valuable Insights Available:
Future Market Insights offers an unbiased global market analysis, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the bromine market, the market is segmented on the basis of Platform (Land, Naval, Airborne, Space), Range (Short Range, Medium Range, Long Range), Application (Defense and aerospace, Marine, Weather Forecasting, Remote Sensing, Automotive), Type (Detection and Search, Targeting Radars, Weather Sensing Radars, Navigational Radars, Mapping Radars) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).
Author By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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Radar & LiDAR Technology for Railways Application Market- The global radar & LiDAR technology for railways application market is estimated at US$ 1.5 billion in 2023. The market is projected to reach US$ 3.7 billion by 2033, exhibiting a CAGR of 9.1% from 2023 to 2033.
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Military Communications Market Growth- The global military communications market garnered a value of US$ 43.09 billion in 2023. The market is expected to surpass US$ 116.96 billion at a CAGR of 10.5% during the forecast period.
Airborne Surveillance Market Trend- Airborne surveillance can give a bird’s-eye view, which is possible from aircraft, and provides quicker footage, a more extended line of sight, and a more extensive area of observation than on the ground, though usually with less resolution.
Defense Communication System Market Scope- The global defense communication system market is estimated to be around US$ 46.7 billion in the current year 2023. The market is predicted to reach a valuation of US$ 120.62 billion by 2033, expanding at an impressive CAGR of 9.9% during the forecast period.
Military Electro-Optics Infrared Systems Market Analysis- The military electro-optics infrared systems market size is projected to be worth US$ 13.7 billion in 2023. By 2033, the market is anticipated to reach US$ 24.5 billion at a CAGR of 6.0%.
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