Radar Security Market Scope
Radar is used to detect an object by using radio waves and determines the angle, velocity, and range of the objects. Radar security system commonly used to detect guided missiles, ships, aircraft spacecraft, motor vehicles, weather formations, and others. In the very beginning, radar security system only used in defense and aviation only but now the radar system has its civilian applications in highway safety systems and anti-collision systems for railways. Additionally, Increasing demand from military sector to replace traditional security system by advanced radar security system and increasing territorial wars and geopolitical instabilities, particularly in the Asian countries and middle east region, are the major key driver for the market. However, High R&D cost and increasing errors due to electromagnetic jamming are the factors that have been limiting the growth of the market. Moreover, increasing the defense budget to develop the security infrastructure and high investment in missile system will grow the market in the forecasted year.
The market study is being classified, by Application (Border Security, Seaport & Harbor, Critical Infrastructure and Others) and major geographies with country level break-up. According to AMA, the Global Radar Security market is expected to see growth rate of 6.3% and may see market size of USD29.18 Billion by 2024.
The Players having a strong hold in the market are Thales SA, Lockheed Martin Corporation, Raytheon Company, Saab AB, Elbit Systems Ltd.. Research Analyst at AMA predicts that United States, European, Middle Eastern and African Players will contribute to the maximum growth of Global Radar Security market throughout the predicted period.
Thales SA (France), Lockheed Martin Corporation (United States), Raytheon Company (United States), Saab AB (Sweden), Elbit Systems Ltd. (Israel), FLIR Systems, Inc. (United States), Israel Aerospace Industries Ltd. (Israel), Blighter Surveillance Systems (United Kingdom), Kongsberg Gruppen (Norway) and DeTect Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are SRC Inc. (United States), Thales Raytheon Systems (France) and Kelvin Hughes Limited (United Kingdom).
AdvanceMarketAnalytics has segmented the market of Global Radar Security market by Type, Application and Region.
On the basis of geography, the market of Radar Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Range , the sub-segment i.e. Long Range will boost the Radar Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product Type, the sub-segment i.e. Ground Surveillance Radar (GSR) Systems will boost the Radar Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component , the sub-segment i.e. Radar sensors will boost the Radar Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In September 2017, HENSOLDT (the leading independent sensor house) has announced the acquisition of British radar specialist Kelvin Hughes (provider of security and maritime radar solutions). The acquisition creates a new opportunity for the HENSOLDT in the radar security market
In December 2019, Hikvision (world's leading provider of CCTV & Video Surveillance products and solutions) has announced the launch of a new Security Radar intrusion detection solution. The new system can work in the harshest weather conditions and uses cutting-edge Hikvision technology. The key features and benefits of the system include accurate detection over a wide area, fewer false alarms, visual intruder verification through video linking, suitable for multiple applications, flexible installation, and easy connection
- Rising Use of Radar Security System for Highway Safety Systems and Anti-Collision Systems
- Increasing Demand from Military Sector to Replace Traditional Security System by Advanced Radar Security System
- Increasing Territorial Wars and Geopolitical Instabilities particularly in Asian Countries and Middle East Region
- Increasing Defense Budget to Develop the Security Infrastructure
- High Investment in Missile System Results in Growing Demand for Radar Security
- High R&D Cost Limiting the Growth of the market
- Increasing Errors due to Electromagnetic Jamming
Key Target AudienceRadar Security Manufacturers (OEMs), Radar Technology Solution Providers, Research Institutes, Market Research and Consulting Firms, Forums, Alliances, and Associations, Technology Investors, Governments and Financial Institutions and Others
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