26 March 2021
Visiongain has published a new report on Radar Security Market Report to 2031: Forecasts by Type (Ground Surveillance Radar (GSR) Systems, Air Surveillance Radar (ASR) Systems, and Marine Surveillance Radar (MSR) Systems), by Range (Long Range (Above 48kms), Medium Range (Up to 48kms), and Short Range (Up to 500m)), and by Application (Border Security, Seaport and Harbor, Critical Infrastructure, and Others). PLUS, Profiles of Leading Radar Security Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios
Global Radar Security market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Radar Security Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for radar security worldwide.
Increasing demand for radar systems worldwide since militaries seek to replace legacy systems
To upgrade the armed forces is quite crucial for any nation across the globe. In the wake of rising number of obsolete warfare equipment, strengthening defense forces with radar systems has become one of the top priorities for military authorities. This has given a push in the investments by several governments for the procurement and development of Radar systems.
Defense budget cuts in developed economies shifted the focus toward miniaturization & automation of defense & surveillance systems
The legacy weapons used for many years in wars were generally massive and bulky, and were mostly mechanically operated. The modern technologically advanced weapons comprises of innovative, portable and radar guided weapons which can be easily transported, are always combat ready and are well equipped with advanced technologies.
Increase in investment and development of ballistic missile and air missile defense systems by the defense sector
For air defense, radars are used for target detection, target identification, and weapon control i.e., guiding the weapons to the aimed targets. With the rise in investments and developments of ballistic missiles, the use of radar security systems becomes unavoidable. This is expected to boost the growth of radar security market over the forecast timeframe.
Increasing use of radar security systems for civilian applications such as highway safety systems and anti-collision systems for trains
Owing to dramatic increase in the usage of radar systems employed for civilian applications, for instance, anti-collision system and highway safety systems for train offer a lucrative opportunity for the growth of global radar security market.
Some of the companies profiled in the report include Thales SA, Lockheed Martin Corporation, Raytheon Company, Saab AB, Elbit Systems Ltd., Flir Systems, Inc., Israel Aerospace Industries Ltd., Blighter Surveillance Systems, Kongsberg Gruppen, and Detect, Inc.
• In October 2018, The US Army awarded Lockheed Martin a contract modification to insert Gallium Nitride (GaN) into the AN/TPQ-53 (Q-53) radar.
• In October 2018, Raytheon Company's AN/SPY-6(V) radar demonstrated its integrated air and missile defense capability through exceptional performance against multiple targets.
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