Market Size of Long Range Radar Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 5.30 Billion |
| Market Size (2029) | USD 6.65 Billion |
| CAGR (2024 - 2029) | 4.65 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Long Range Radar Market Analysis
The Long Range Radar Market size is estimated at USD 5.30 billion in 2024, and is expected to reach USD 6.65 billion by 2029, growing at a CAGR of 4.65% during the forecast period (2024-2029).
Due to the changing battlefield scenarios and the increasing number of aerial threats with greater lethality, agility, and speed, countries find it necessary to develop and induct long-range radars into their militaries to enhance their detection capabilities and possess higher response times to intercept incoming threats.
- The growth in airspace violations, maritime and sea incursions, usage of autonomous assets with stealth technologies, development of hypersonic weapons, etc., is leading to increased defense expenditure on long-range radar technology development and procurement for intelligence, surveillance, reconnaissance, airborne early warning operations. This factor is also propelling the growth of the market studied globally.
- The development of large ground-based radars takes years to complete and requires sustained budgetary allocations. Any changes in priorities due to budgetary constraints can also halt the progress of ongoing high-value radar-related projects, restraining the growth of the market studied during the forecast period.
Long Range Radar Industry Segmentation
Long-range radars play a vital role in the acquisition and control of airspace. Designed to actively locate and track multiple targets over long distances, long-range radar systems continuously track the position of both friendly and enemy systems.
The long-range radar market is segmented based on platform and geography. Based on the platform, the market is segmented into airborne, ground-based, and naval. The report also covers the market sizes and forecasts for the long-range radar market in major countries across different regions. The report offers the market size in value terms in USD for all the abovementioned segments.
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Long Range Radar Market Size Summary
The long-range radar market is poised for significant growth over the forecast period, driven by the increasing need for advanced detection capabilities in response to evolving aerial threats and geopolitical tensions. The market is experiencing a surge in demand due to the rise in airspace violations, maritime incursions, and the development of hypersonic weapons, which are prompting countries to enhance their defense capabilities through the procurement and development of long-range radar systems. Major military spenders, particularly in the US and Europe, are investing heavily in new naval vessels and advanced radar technologies to bolster their intelligence, surveillance, and reconnaissance operations. This trend is further supported by substantial contracts and collaborations between defense agencies and leading market players, ensuring a steady flow of investments and technological advancements in the sector.
In the Asia-Pacific region, the demand for long-range radar systems is being propelled by the presence of major military powers and ongoing regional tensions. Countries such as China, India, and Japan are significantly increasing their defense expenditures to modernize their military capabilities, including the development and procurement of advanced radar systems. China's investment in radar technology, particularly for targeting stealth aircraft, and the inclusion of fifth-generation aircraft in the defense fleets of South Korea, Japan, and Australia, are key factors driving market growth in the region. The market is semi-consolidated, with dominant players like Lockheed Martin, BAE Systems, and THALES leading the charge in providing cutting-edge radar solutions. These developments underscore the critical role of long-range radar systems in enhancing national security and defense readiness across the globe.
Long Range Radar Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Platform
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2.1.1 Airborne
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2.1.2 Ground-based
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2.1.3 Naval
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Russia
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2.2.2.5 Italy
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Japan
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2.2.3.4 South Korea
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 Latin America
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2.2.4.1 Mexico
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2.2.4.2 Brazil
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2.2.4.3 Rest of Latin America
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2.2.5 Middle East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 United Arab Emirates
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2.2.5.3 Israel
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2.2.5.4 Rest of Middle East and Africa
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Long Range Radar Market Size FAQs
How big is the Long Range Radar Market?
The Long Range Radar Market size is expected to reach USD 5.30 billion in 2024 and grow at a CAGR of 4.65% to reach USD 6.65 billion by 2029.
What is the current Long Range Radar Market size?
In 2024, the Long Range Radar Market size is expected to reach USD 5.30 billion.
