Market Size of Naval Radar Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.78 Billion |
| Market Size (2029) | USD 7.37 Billion |
| CAGR (2024 - 2029) | 5.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Naval Radar Systems Market Analysis
The Naval Radar Systems Market size is estimated at USD 5.78 billion in 2024, and is expected to reach USD 7.37 billion by 2029, growing at a CAGR of 5.01% during the forecast period (2024-2029).
Development and procurement of new frigates have gained importance in the past few years due to the increasing border issues and territorial conflicts at sea. Escalating geopolitical tensions globally underscores the strategic importance of naval forces, fostering a heightened demand for military frigates. Nations seek to bolster their maritime capabilities to secure vital sea routes, protect territorial waters, and respond effectively to evolving geopolitical challenges, thereby driving the procurement of frigates.
The surge in military modernization initiatives plays a pivotal role in driving the market for military frigates. As nations prioritize upgrading their defense capabilities, surveillance emerges as an integral component of comprehensive naval modernization programs. The incorporation of state-of-the-art radar systems aligns with broader military strategies, contributing to sustained demand in the market.
Due to growth in geopolitical tensions, maritime border tension, and the growing importance of anti-submarine warfare, countries like China, India, the United States, the United Kingdom, Spain, etc., are increasing their investments towards strengthening their surveillance capabilities.
The increasing investments by the companies 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.
Naval Radar Systems Industry Segmentation
Naval radar systems represent a critical component of maritime defense, allowing vessels to detect, track, and identify objects on the water and in the airspace. These systems utilize radio waves to determine the presence and location of targets, offering essential situational awareness for naval operations. Naval radar systems come in various types, including air search radars for detecting aircraft, surface search radars for locating ships, and fire control radars for guided weapon systems. Their role is integral to the overall effectiveness of naval forces, enhancing navigational safety and contributing to the detection and response to potential threats. Various naval vessels considered in the report are destroyers, frigates, submarines, aircraft carriers, corvette littoral combat ships, cruisers, patrol ships, etc.
The Naval Radar Systems Market is Segmented by application and geography. By application, the market is segmented into surveillance and missile guidance). The report also covers the market sizes and forecasts for the naval radar systems market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
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Naval Radar Systems Market Size Summary
The naval radar systems market is poised for significant growth over the forecast period, driven by the increasing geopolitical tensions and the strategic importance of naval forces. The development and procurement of new frigates have become crucial as nations seek to enhance their maritime capabilities to secure vital sea routes and protect territorial waters. This surge in military modernization initiatives has led to a heightened demand for advanced radar systems, which are integral to comprehensive naval modernization programs. The emphasis on surveillance capabilities, particularly in counter-stealth technologies, is expected to bolster market growth. Countries such as China, India, the United States, and the United Kingdom are investing heavily in strengthening their surveillance capabilities to address maritime border tensions and enhance anti-submarine warfare readiness.
The market is characterized by a fragmented landscape with numerous major defense manufacturers catering to the radar requirements of various naval programs. Prominent players like RTX Corporation, L3Harris Technologies Inc., and BAE Systems PLC are actively involved in developing and procuring new radar solutions, often through partnerships and collaborations. These companies are focusing on integrating surveillance radar systems with advanced command and control systems to enhance naval operations' effectiveness. Recent developments, such as the introduction of the Quadome radar system by HENSOLDT and the US Navy's adoption of the SPY-6 radars, highlight the ongoing advancements in radar technology. Such innovations are anticipated to increase market share and cash flows for these companies, reinforcing their position in the global naval radar systems market.
Naval Radar Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Surveillance
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2.1.2 Missile Guidance
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.2 Europe
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2.2.2.1 United Kingdom
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2.2.2.2 Germany
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2.2.2.3 France
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2.2.2.4 Russia
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2.2.2.5 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 India
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2.2.3.3 Japan
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2.2.3.4 South Korea
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2.2.3.5 Australia
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2.2.3.6 Taiwan
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2.2.3.7 Rest of Asia-Pacific
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2.2.4 Latin America
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2.2.4.1 Brazil
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2.2.4.2 Mexico
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2.2.4.3 Rest of Latin America
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2.2.5 Middle-East and Africa
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2.2.5.1 Turkey
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2.2.5.2 Saudi Arabia
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2.2.5.3 South Africa
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2.2.5.4 Rest of Middle-East and Africa
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Naval Radar Systems Market Size FAQs
How big is the Naval Radar Systems Market?
The Naval Radar Systems Market size is expected to reach USD 5.78 billion in 2024 and grow at a CAGR of 5.01% to reach USD 7.37 billion by 2029.
What is the current Naval Radar Systems Market size?
In 2024, the Naval Radar Systems Market size is expected to reach USD 5.78 billion.
