The Business Research Company’s Surveillance RadarGlobal Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Surveillance RadarGlobal Market Report 2023evaluates surveillance radar market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global surveillance radars market is expected to grow from $8.28 billion in 2022 to $9.07 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The surveillance radars market is expected to reach $12.81 billion in 2027 at a CAGR of 9%.
The increasing military expenditure is expected to propel the growth of the surveillance radar market going forward. Military expenditure refers to the quantity of financial resources allotted by a country to building and maintaining an armed force or other necessary defense measures. The modernization and infrastructure development of the defense services primarily drives the increasing military expenditure. Increased military expenditure drives research, development, and procurement of advanced surveillance technologies, leading to technological advancements and market growth in the surveillance industry. For instance, in 2022, according to the Stockholm International Peace Research Institute, a Sweden-based independent international institute, total spending on military expenditures was $1,981 billion in 2020. US military expenditure was $778 billion in 2020, which was 4.4% higher than in 2019. Therefore, increasing military expenditure is driving the growth of the surveillance radar market.
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The surveillance radar market segments in the report are:
1) By Component: Antennas, Transmitters, Power Amplifiers, Receivers, Duplexers, Digital Signal Processors, Other Components
2) By Radar Type: Short Range, Medium Range, Long Range
3) By Platform: Airborne, Ground, Space, Naval
4) By Application: Commercial, Military, National Security, Aerospace, Maritime, Other Applications
Top Major Players:
Raytheon Company
The Boeing Company
Lockheed Martin Corporation
Northrop Grumman Corporation
Honeywell International Inc.
North America was the largest region in the surveillance radars market in 2022.
The table of contents in TBRC’s surveillance radar market report includes:
1. Executive Summary
2. Surveillance Radar Market Characteristics
3. Surveillance Radar Market Trends And Strategies
4. Surveillance Radar Market – Macro Economic Scenario
5.Global Surveillance Radar Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
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32. Global Surveillance Radar Market Competitive Benchmarking
33. Global Surveillance Radar Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Surveillance Radar Market
35. Surveillance Radar Market Future Outlook and Potential Analysis
36. Appendix
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