The naval system surveillance radar market size is projected to reach US$ 7.17 billion by 2031 from US$ 4.25 billion in 2023. The market is expected to register a CAGR of 6.8% during 2023–2031. Development of new frigates is likely to remain a key trend in the market.
Naval System Surveillance Radar Market Analysis
Naval system surveillance radar is one of the key products of orders, surveillance, navigation, navy intelligence, and many more among the naval forces. There is a low to low threat of substitutes in the naval system surveillance market. Owing to the fact that the naval sectors globally procure only naval system surveillance radar for national security and navigation exercises. Thus, a complete substitute is not available in the market in the current scenario. However, technology upgrades and advancements prevail. Hence, the impact of threats to substitutes on the naval system surveillance radar market is expected to remain low during the coming years.
Naval System Surveillance Radar Market Overview
The major stakeholders in the global naval system surveillance radar market ecosystem include component manufacturers, naval system surveillance radar manufacturers, and end-users amongst others. A naval radar system is made up of various components which are procured by the system manufacturers from a huge base of component manufacturers. These component manufacturers supply the base parts to the global naval system surveillance radar players. The manufacturers are the companies that are engaged in manufacturing the final surveillance radar systems after integrating each component. Some of the major players operating in the market include Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, and Thales Group amongst others. The end-user of the global naval system surveillance radar market includes all naval forces across the globe. the naval forces integrate the radar with submarines, boats, ships, and naval vessels amongst others for applications such as surveillance and weapon guidance systems.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Naval System Surveillance Radar Market: Strategic Insights
Market Size Value in US$ 4,249.75 Million in 2022 Market Size Value by US$ 6,465.89 Million by 2028 Growth rate CAGR of 7.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Naval System Surveillance Radar Market: Strategic Insights
| Market Size Value in | US$ 4,249.75 Million in 2022 |
| Market Size Value by | US$ 6,465.89 Million by 2028 |
| Growth rate | CAGR of 7.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Naval System Surveillance Radar Market Drivers and Opportunities
Increasing Global Defense Budgets Pushing the Deployment of Naval Systems
The rise in global military expenditure is one of the major factors pushing the procurement and deployment of naval systems including radars across different regions. For instance, according to the data published by the Stockholm International Peace Research Institute (SIPRI), between 2019 and 2022, global military spending experienced a rise of around 8.4% which shows a string growth in investments in military technologies. Such factors have been pushing the deployment of naval systems and thereby driving the growth of the naval system surveillance radar market.
Expected Deliveries of Various Types of Naval Vessels Among Different Countries
The expected future deliveries of different types of naval vessels such as frigates, corvettes, carriers, submarines, and destroyers is likely to boost the demand for naval system surveillance radars across different regions in the coming years. For instance, in 2023, the US had a fleet of around 243 naval vessels. Also, as per The Insight Partner’s secondary research, more than 65 naval vessels (including 15 frigates, 21 destroyers, 19 submarines, 9 aircraft carriers, and 3 patrol vessels) worth of orders have been already placed from the US naval forces. This will further generate the demand for new installations of naval system surveillance radars in the US. Such factors are likely to generate new opportunities for market vendors in the coming years.
Naval System Surveillance Radar Market Report Segmentation Analysis
Key segments that contributed to the derivation of the naval system surveillance radar market analysis are type and application.
- Based on type, the naval system surveillance radar market is segmented into X-band & Ku-band, L-band & S-band, and others. The X-band & Ku-band segment held a larger market share in 2023.
- Based on application, the naval system surveillance radar market is segmented into weapon guidance system and surveillance. The surveillance segment held a larger market share in 2023.
Naval System Surveillance Radar Market Share Analysis by Geography
The geographic scope of the naval system surveillance radar market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the market in 2023 followed by Europe and Asia Pacific regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. The US dominated the North America naval system surveillance radar market in 2023. The US accounts for the largest share in the naval system surveillance radar market in North America due to the early adoption of radar technology. Additionally, the US has the largest defense budget in the world and a large amount of budget is contributed towards the adoption and procurement of upgraded weapons systems. According to research by the United States Department of Transportation's Maritime Administration (MARAD), the shipbuilding industry contributes significantly to the country's GDP. The entire budget request for the Department of Navy for FY 2023 is US$ 230.8 billion, with the Navy receiving US$ 180.5 billion and the Marine Corps receiving US$ 50.3 billion. The Navy is requesting US$ 53.35 billion in procurement funding, a 5.4% increase over FY 2023. This contributes to the demand for naval system surveillance radar across the country. The United States ranks 3rd in the world and the country has 484 navy fleets according to a Global Firepower. The rising fleet across the US Navy also acts as a supporting factor for the naval system surveillance radar market growth in the country.
Naval System Surveillance Radar Market Report Scope
Naval System Surveillance Radar Market News and Recent Developments
The naval system surveillance radar market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the naval system surveillance radar market are listed below:
- Northrop Grumman Corporation has secured a contract worth US$ 167 million for the modification of the US Navy’s G/ATOR radar technology. (Source: Northrop Grumman Corporation, Press Release, Apr 2024)
- The U.S. Navy is putting the advanced AN/SPY-6 naval radar on 29 new ships, and now it will add this system to the first existing ships, starting with a $619 million contract with Raytheon, an RTX business. (Source: Raytheon Technologies Corporation, Press Release, Apr 2023)
Naval System Surveillance Radar Market Report Coverage and Deliverables
The “Naval System Surveillance Radar Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Naval system surveillance radar market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Naval system surveillance radar market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Naval system surveillance radar market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the naval system surveillance radar market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the naval system surveillance radar market in 2023.
Growing importance of naval surveillance systems and increasing global defense budgets pushing the deployment of naval systems are some of the factors driving the growth for naval system surveillance radar market.
Development of new frigates is one of the major trends of the market.
Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Thales Group, BAE Systems Plc, Israel Aerospace Industries Ltd, Leonardo SpA, Ultra, and HENSOLDT AG are some of the key players profiled under the report.
The estimated value of the naval system surveillance radar market by 2031 would be around US$ 7.17 billion.
The naval system surveillance radar market is likely to register of 6.8% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Naval System Surveillance Radar Market
Jun 2024
Military Antenna Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Aperture Antennas, Dipole Antennas, Travelling Wave Antennas, Monopole Antennas, Loop Antennas, Array Antennas, Others); Frequency (High Frequency, Very High Frequency, Ultra-High Frequency); Platform (Marine, Ground, Airborne); Application (Communication, Telemetry, Electronic Warfare, Surveillance, Navigation); and Geography
Jun 2024
Helicopter MRO Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Airframe Maintenance, Engine Maintenance, Component Maintenance, Line Maintenance); Helicopter Type (Light Helicopter, Medium Helicopter, Heavy Helicopter); End User (Commercial, Military); and Geography
Jun 2024
Airport Infrastructure Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Airport Type (Commercial Airport, Military Airport, General Aviation Airport); Infrastructure Type (Terminal, Control Tower, Taxiway & Runway, Hangar, Others); and Geography
Jun 2024
Airport Fueling Equipment Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Tanker Capacity (Below 5000 litres, 5000-20000 litres, Above 20000 litres); Aircraft Type (Civil Aircraft, Military Aircraft); Power Source (Electric, Non-Electric); and Geography
Jun 2024
Jun 2024
Airborne Pods Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Aircraft Type (Combat Aircraft, Helicopters, UAVs and Others); Pod Type (ISR, Targeting, and Countermeasure); Sensor Technology (EO/IR, EW/EA, and IRCM); Range (Short, Long, and Intermediate); and Geography
Jun 2024
Air Defense Radar Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Range (Long Range, Medium Range, Short Range); Product Type (Synthetic Aperture and Moving Target Indicator Radar, Surveillance Radar, Airborne Early Warning Radar, Multi-functional Radar, Weather Radar, Others); System Type (Fixed, Portable); Platform (Ground-based, Aircraft-mounted, Naval-based); Application (Ballistic Missile Defense, Identification Friend or Foe, Weather Forecasting, Others); and Geography
Get Free Sample For