Market Size of Long Range Radar Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 5.30 Billion |
| Market Size (2029) | USD 6.65 Billion |
| CAGR (2024 - 2029) | 4.65 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Long Range Radar Market Analysis
The Long Range Radar Market size is estimated at USD 5.30 billion in 2024, and is expected to reach USD 6.65 billion by 2029, growing at a CAGR of 4.65% during the forecast period (2024-2029).
Due to the changing battlefield scenarios and the increasing number of aerial threats with greater lethality, agility, and speed, countries find it necessary to develop and induct long-range radars into their militaries to enhance their detection capabilities and possess higher response times to intercept incoming threats.
- The growth in airspace violations, maritime and sea incursions, usage of autonomous assets with stealth technologies, development of hypersonic weapons, etc., is leading to increased defense expenditure on long-range radar technology development and procurement for intelligence, surveillance, reconnaissance, airborne early warning operations. This factor is also propelling the growth of the market studied globally.
- The development of large ground-based radars takes years to complete and requires sustained budgetary allocations. Any changes in priorities due to budgetary constraints can also halt the progress of ongoing high-value radar-related projects, restraining the growth of the market studied during the forecast period.
