28 February 2020
Visiongain has published a new Defence report entitled, Ground Surveillance Radar Market Report.
The Ground Surveillance Radar market is estimated to witness a Compound Annual Growth Rate of 5.73 per cent from 2020 to 2030.
Several factors are having a significant driving effect on the industry, particularly improvements to the finances of several influential states, advancements in radar technology, and a need to tackle emerging threats.
Visiongain anticipates that global investment and consolidation will be robust and stable over the next decade. The market’s strong health is due to the factors listed above, as well as the presence of several established companies.
The leading players currently investing in ground surveillance research and design are ASELSAN, Blighter Surveillance Systems, Elbit Systems, FLIR Systems, Israel Aerospace Industries, L3Harris Technologies, Lockheed Martin, HENSOLDT, Raytheon and Thales Group.
The senior Defence Analyst said: "The worldwide Ground Surveillance Radar market is expected to generate sales of USD 7.9 billion in 2020.
"Typically, a ground surveillance radar system is capable of 360-degree scanning, in all-weather, to deliver wide-area situational awareness and focus on any potential threats. Most also have network-ready capabilities, can be controlled from a single command station, and are designed for rapid deployment.
"Ground surveillance radar is critical to many security and military support applications – whether it be strategic infrastructure in the civil and private sectors, border control for national security, or tactical use and special forces support on the battlefield.
"Today, the Ground Surveillance Radar industry is a buoyant worldwide business and is being driven forward by advancements in technology, which are incentivising countries to enhance and upgrade their radar inventories; high defence spending and significant improvements to the financial positions of several influential states; the world’s shifting conflict landscape; and a need to counter new threats.
"Indeed, by 2030, visiongain predicts that the Ground Surveillance Radar market will have surpassed the 10 billion-dollar mark, achieving a total sales figure of USD 13.8 billion."
Note for Editors
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Visiongain is a leading business intelligence provider, publishing market reports for the automotive, aviation, chemicals, construction, cyber, defence, electronics, energy, food & drink, IT, maritime, materials, packaging, pharmaceutical, renewable energy, telecoms and utilities sectors.
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