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.
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 2026.
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 estimates 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 that are part of study coverage. 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).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Radar Security market , by Application (Border Security, Seaport & Harbor, Critical Infrastructure and Others) and Region with country level break-up.
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).
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
Market Trend
- Rising Use of Radar Security System for Highway Safety Systems and Anti-Collision Systems
Market Drivers
- 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
Opportunities
- Increasing Defense Budget to Develop the Security Infrastructure
- High Investment in Missile System Results in Growing Demand for Radar Security
Restraints
- High R&D Cost Limiting the Growth of the market
Challenges
- Increasing Errors due to Electromagnetic Jamming
Key Target Audience
Radar 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