Security and Surveillance Radar

Security and Surveillance Radar

Global Surveillance Radar Market to Reach $12 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Surveillance Radar estimated at US$7.5 Billion in the year 2020, is projected to reach a revised size of US$12 Billion by 2027, growing at a CAGR of 7% over the analysis period 2020-2027. Long Range, one of the segments analyzed in the report, is projected to record a 8.1% CAGR and reach US$6.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Medium Range segment is readjusted to a revised 4.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.2 Billion, While China is Forecast to Grow at 6.4% CAGR

The Surveillance Radar market in the U.S. is estimated at US$2.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2027 trailing a CAGR of 6.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.2% and 5.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.

Short Range Segment to Record 6.5% CAGR

In the global Short Range segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2 Billion in the year 2020 will reach a projected size of US$3.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 44 Featured) -

• Airbus Group SAS
• BAE Systems PLC
• Boeing Company, The
• Cobham PLC
• Honeywell International, Inc.
• Israel Aerospace Industries (IAI)
• Kelvin Hughes Ltd.
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Raytheon Company
• Rockwell Collins, Inc.
• SAAB AB

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