Apart from military applications, security and surveillance radars are also used for the detection of non-cooperative and suspiciously moving targets for security purposes. These systems have a wide range of applications. Increasing tension between various countries, warlike scenario across several regions and economic downturn across developing countries play a crucial role in the development of the global security and surveillance radar market. The industry is primarily driven by increasing applications and adoption of these products across different parts of the world. Increasing commercial effectiveness of these systems is driving new investors and businesses towards this industry.
Key Takeaways
Air defense, surveillance and security radars are used for aerospace, marine and ground level security. These systems can monitor different types of targets including ultra lights, aircrafts, unmanned aerial systems, ships, boats, helicopters, pedestrians, and suspicious vehicles. Increasing tension within various countries and rising demand from emerging regions are creating healthy prospects of steady growth for the global security and surveillance radar market. Although the economic slowdown across developed countries like United States of America and United Kingdom are pulling the growth rate back, demand from Asia pacific, Middle East, Africa, and Latin America are filling up this increasing gap.
Segmentation
The security and surveillance radar market is segmented on the basis of the applications across various platforms geographic regions and demand from different countries within these regions. As mentioned before, these radar systems are used across ground-based, maritime-based, and airborne platforms. Based on geographic regions, the industry is segmented into Latin and North America, Middle East, Africa, Asia Pacific, and Europe. Most dominating countries in the industry include USA, UK, UAE, Russia, France, Germany, Saudi Arabia, India, Australia, Israel, Japan, Brazil, Canada, Argentina, Turkey, South Korea, and so on. Analysis of these segments provides information about current trends and forecasts.
Forecasting
The global security and surveillance radar market is expected to grow at a CAGR of 5.97% from 2014 to 2019. At the projected compound annual growth rate, the market is estimated to grow from $6.08 billion in 2014 to reach $8.61 billion by 2019. Strengthening the air and missile safeguard methods and airborne security surveillance methods with robust radar systems has become priority for the manufacturers and consumers in the market. In terms of growth, space and maritime-based radars are expected to record impressive growth during the forecasting period. Phased array systems and active electronically scanned array systems are making inroads in the industry, which is a great sign for the overall market.
