The early warning radar global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Early Warning Radar Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The early warning radar market size has grown strongly in recent years. It will grow from $1.5 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to growth in the market for phased array radar systems, development of 3D radar systems, requirement for radar systems with electronic warfare capabilities, high requirement for persistent surveillance solutions, growth in the market for radar systems in air traffic control.
The early warning radar market size is expected to see strong growth in the next few years. It will grow to $2.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing global security threats, increasing deployment of ground-based radar systems, growth in the market for phased array radar systems, rising investments in defense and security infrastructure, demand for radar systems in disaster management and emergency response. Major trends in the forecast period include technological advancements in radar systems, integration of artificial intelligence and machine learning, shift towards digital beamforming technology, expansion of radar coverage in remote regions, expansion of radar systems for wildlife monitoring and conservation.
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Scope Of Early Warning Radar Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Early Warning Radar Market Overview
Market Drivers –
The increasing global security threats are expected to propel the growth of the early warning radar market going forward. Threats to global security are growing as a result of terrorism, rising geopolitical tensions, and technical advances in weapons. Security threats include potential hazards such as missile launches, hostile aircraft incursions, and other unauthorized airspace activity picked up by radar systems. Early warning radar systems are critical in reducing global security threats by providing timely and accurate information to military and defense forces, enabling them to respond effectively to potential threats. For instance, according to the 2022 Data Breach Report published by the Identity Theft Resource Center, a US-based non-profit organization, the number of data breach incidents increased by 68% in 2022, with 1,862 breaches reported compared to 1,108 breaches in 2021. Therefore, the increasing global security threats are driving the growth of the early warning radar market.
Market Trends –
Major companies operating in the early warning radar market are developing innovative products with advanced technologies, such as digital stacked beam technology, to enhance the flexibility and performance of radar systems. The digital stacked beam technology enables precise target detection, encompassing fast jets, missiles, hovering helicopters, and UAVs in proximity to the ground or concealed near the radar, ensuring accurate surveillance capabilities. For instance, in November 2021, Thales SA, a France-based electrical systems company, launched the GM400 Alpha. This three-dimensional (3D) long-range air surveillance radar incorporates digital stacked beam technology to enhance its capabilities. The GM400 Alpha radar has five times more processing power than its predecessor, allowing for improved data analysis and detection capabilities. Advanced artificial intelligence algorithms are integrated into the GM400 Alpha radar, enabling enhanced threat detection and tracking of targets.
The early warning radar market covered in this report is segmented –
1) By Type: Air-Interception Radars, Bombing Radars, Navigation Radars, Other Types
2) By Dimension: 2Dimension, 3Dimension, 4Dimension
3) By Application: Attack, Defense, Surveillance, Collision Avoidance, Other Applications
4) By End Use: Navy, Army, Air Force
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Regional Insights –
North America was the largest region in the early warning radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the early warning radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the early warning radar market are Mitsubishi Electric Corporation, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Hanwha Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell International Inc., Safran SA, BAE Systems plc, Thales Group, L3Harris Technologies Inc., Leonardo S.p.A., Textron Inc., Rheinmetall AG, Serco Group plc, Saab AB, Israel Aerospace Industries Ltd., Bharat Electronics Limited, Mercury Systems Inc., Cobham plc, Aselsan A.Ş., ThalesRaytheonSystems, Indra Sistemas S.A.
Table of Contents
1. Executive Summary
2. Early Warning Radar Market Report Structure
3. Early Warning Radar Market Trends And Strategies
4. Early Warning Radar Market – Macro Economic Scenario
5. Early Warning Radar Market Size And Growth
…..
27. Early Warning Radar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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