Naval Radar System Market Size & Growth 2022 - 2027
Naval Radar System Market is expected to grow with a CAGR of more than 6% between 2022 and 2027. The naval radar system is a detection system used by the Navy to determine the range, velocity, angle of the threat. The Naval radar system includes Antenna Unit, the Transceiver Unit, Processing Unit, Display Unit, and Control Unit. The transmitter produces electronic waves in the radio when it hits out the object, the transmitter Antenna receive or transmit a signal to the Processing Unit, and then the Processing unit process the signal and direct the properties of the object and results used to display in the display unit and then provide a signal to control unit for the desired action. The naval radar system has two types of frequency bands. X-band with 10GHz frequency for better resolution and S-band with 3GHz frequency for the identification or tracking even in rain or fog.
The demand for a naval radar system increases due to growth in geopolitical tensions, maritime border tension, and the growing significance of anti-maritime warfare. Countries like China, the United Kingdom, the United States, India, Spain, etc., are increasing their investments towards the new naval vessel strengthening capabilities. Therefore, the procurement of new naval vessels drives the growth of the naval radar system market during 2022-2027.
Asia-Pacific region is expected to have the fastest growth in the forecasted period between 2022 and 2027 as countries like China, India, South Korea are heavily investing in their Navy for strengthening their capabilities by procuring and developing naval vessels, driving the growth of the Naval Radar System Market in the future.
Market Drivers:
The driving force of the Naval Radar System Market is increasing geopolitical tension, Mari-time border tension, and other disputes between countries. Countries like China, India, the UK, France, and South Korea focus on enhancing their naval capabilities. With the growing technologies, countries increase their naval strength by procuring and developing naval vessels.
The increasing tension between countries leads to escalating the demand for naval radar for better detection and protection of the nation. Moreover, countries are focusing on procurement and development of naval vessels with modern technology radars to strengthen their naval capabilities. The increasing dominance of China with the South China Sea leads to compelling neighboring countries to invest in procurement and development of their naval vessel, which fuels the growth of the global Naval Radar System Market. The growing armed race between countries fuels the growth of the Naval Radar System Market in the future. For instance, China heavily invests in increasing frigates and submarines to surpass Russia.
The rising focus of government on increasing investments for enhancement of their naval capabilities by adoption and procurement of modern technology-based vessels drives the growth of the Naval Radar System Market in the period between 2022 and 2027
Market Restraints:
A governmental restriction towards the export of technology and equipment hinders the growth of the Naval Radar System Market.
Recent Developments:
Raytheon Missiles and Defense (a Raytheon Technologies Business) successfully demonstrated the new software "Network Cooperation Radar Program" in November 2021 with the Office of Naval Research (ONR). It is an advanced radar system solution that supports U.S. Navy goals for creating distributed sensing networks to defend against evolving threats. Furthermore, the experiment demonstrated that tactical radars like the SPY-6 might gain in the future from better-distributed radar concept sensing capabilities.
In December 2020, Israel Aerospace Industries signed a joint strategic corporation agreement with HENSOLDT. Under the terms of the agreement, Israel Aerospace Industries and HENSOLDT will collaborate on the development of ballistic missile defense radar systems as well as air and space surveillance programs.
Market Segmentation:
Antenna Unit
Transceiver Unit
Processing Unit
Display Unit
Control Unit
Based on the Components, the global Naval Radar System is segmented into Antenna units.
Transceiver Unit, Processing Unit, Display Unit, Control Unit. All these components work together in Naval Radar System for precise detection and tracking. Due to growing awareness and increasing adoption of modern technology, embedded components fuel the growth of the naval radar system market in the future.
The Global Naval Radar System Market is segmented into X-band and S-band based on frequency. The X-band has a 10 GHz frequency and is used for a sharper image and better resolution, while the S-band has a 3 GHz frequency and is used especially in rain or fog, as well as identification and tracking. Owing to these features and efficiency, X-band and S-band drive the growth of the global naval radar system in the period between 2022 and 2027.
The Global Naval Radar System Market is segmented into Surveillance and Missile guide based on Application. The aim of aiding naval radar for identification, tracking, and positioning of vessels (including own vessel), among other things, by hitting the target for national security.
Regional Analysis:
The Global Naval Radar System Market has been categorized in four regions:
In the North America region, the United States is the largest market for the naval radar system. The U.S. has the largest armed strength and provides trade security globally. The United States tends to be the highest spender on its military, and it alone has a large number of naval vessels and frigates globally. Additionally, the U.S. army is continuously working on enhancing naval capabilities by contacting and collaborating with key players with the latest technologies. Owing to these factors, the U.S. will lead the growth of the Naval Radar System Market in the future.
Asia Pacific region is expected to become a lucrative market for Naval radar systems due to increasing tensions between various countries in this region. The increasing dominance of China in the South China Sea has led to increasing the naval investment by neighboring countries to procure modernize their naval fleet. In the APAC region, countries like Indonesia, Australia, China, India, and South Korea are significantly investing in developing and procuring new naval vessels. The growing attention of China on increasing its submarine warfare capabilities from coastal defense to blue-water operations. Similarly, the growing focus of the Indian government in allocating huge budgets for the Indian Navy to strengthen their naval capabilities with the procurement of nuclear submarines and stealth frigates. Owing to increase investment in procuring new naval vessels increase the demand of the Radar System market during the foreseen period
In Europe, countries like the U.K., Russia, and France will emerge as a growing market for naval radar systems due to armed capabilities with modern equipment.
Covid-19 Impact on Global Naval Radar System Market:
In 2020, the naval radar market was growing at a steady rate since the negative impact of the coronavirus globally is already there and significantly impacted the Naval Radar System Market New projects have stalled across the globe, which, in turn, have led to a decline in demand for a naval radar system. Moreover, due to low GDP and rising expenses on healthcare, the government had left with fewer budgets for defenses decline the demand for new naval radar system which in turn affected the growth of the Naval radar System Market. However, the market is expected to grow rapidly post COVID-19 as all the projects that were on hold due to pandemics will be started.
Key Players:
Some of the leading companies operating in the Global Naval Radar System Market are:
Leading Company:
Raytheon Technologies tends to have the largest share of the world’s Naval Radar System in manufacturing and technological innovations
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