Market Size of Surveillance Radar Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.46 Billion |
| Market Size (2029) | USD 15.57 Billion |
| CAGR (2024 - 2029) | 6.32 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Surveillance Radar Market Analysis
The Surveillance Radar Market size is estimated at USD 11.46 billion in 2024, and is expected to reach USD 15.57 billion by 2029, growing at a CAGR of 6.32% during the forecast period (2024-2029).
The investments in airport surveillance infrastructure by the government and airport operators for complications, like drone intrusion into the airspace, are expected to propel the demand for the surveillance radar market during the forecast period. The need to strengthen border security and the growing threat of missiles are generating the need for advanced radar systems. The principal manufacturers are heavily investing in radar technology to improve the operating range and detection capabilities. The surveillance radar segment is witnessing several innovations, such as the incorporation of 3D technology, augmented reality for better situational awareness, etc. The advancement in radar technology is anticipated to bolster the sales of surveillance radars in the coming future.
The surge in military modernization initiatives plays a pivotal role in driving the market for Surveillance radars. As nations prioritize upgrading their defense capabilities, surveillance emerges as an integral component of comprehensive defense modernization programs. The incorporation of state-of-the-art radar systems aligns with broader military strategies, contributing to sustained demand in the market.
Similarly, the rapid development of aviation infrastructure in developing economies, such as India and China, due to the increased air traffic that resulted from a rising standard of living and low airfares, is propelling the airport and runway development and, subsequently, the market for airport radar systems. Moreover, the increasing investments by OEMs to develop new and advanced radar systems for surveillance (counter-stealth technologies) are anticipated to bolster the growth of the market in the coming future.
There is a significant opportunity for OEMs in the development of multi-function radar systems that offer enhanced capabilities, such as simultaneous surveillance, tracking, and target identification. Additionally, the rapid adoption of unmanned aerial vehicles (UAVs) for military and civilian applications presents a growing market for radar systems that are tailored to detect aerial threats.
However, the surveillance radar market faces few restraints that could impact the growth over the forecast period. Primary restraint is the high cost associated with developing and deploying radar systems, particularly for countries with limited defense budgets. Moreover, stringent export controls on radar technology pose challenges for market players looking to expand their global footprint.
