July 28, 2022 10:15 ET | Source: Verified Market Research Verified Market Research
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JERSEY CITY, N.J., July 28, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Radar Systems Market” By Type (Continuous Wave RADAR Systems and Pulsated Wave RADAR Systems), By Application (Airborne, Land-based, and Naval), By End-Use (Aviation, Maritime Applications, Automotive, and Military & Defense), and By Geography. According to Verified Market Research, the Radar Systems Market size was valued at USD 31.5 Billion in 2021 and is projected to reach USD 47.8 Billion by 2030, growing at a CAGR of 4.6% from 2022 to 2030.
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Browse in-depth TOC on “Radar Systems Market”
202 – Pages
126 – Tables
37 – Figures
Global Radar Systems Market Overview
Some of the key reasons propelling the growth of the Radar Systems Market include an increase in the use of radars for unmanned vehicles and increased capabilities of radar systems leading to greater efficiency. Additionally, it is projected that the development of contemporary warfare technologies like electronic warfare and network-centric warfare would accelerate the growth of the Radar Systems Market. The automobile industry also makes extensive use of radar systems, which have improved safety features in passenger cars and other transportation systems.
The use of radar in automobiles helps with lane changes, assists with cruise control, which allows altering the speed of the vehicle to keep a safe distance from vehicles in front of it, and provides collision warning, alerting the driver to potential dangers. One of the main factors fueling the expansion of the worldwide Radar Systems Market is the rise in desire among economically developing nations for the installation of radar technology in a variety of passenger and commercial vehicles. The demand for luxury passenger cars is also rising, along with concerns about driver and vehicle safety and the implementation of safety rules, all of which support the expansion of the worldwide Radar Systems Market.
The major players in the market are BAE Systems, Dassault Aviation, General Dynamics Corporation, Honeywell International Inc., Lockheed Martin Corporation, L3 TECHNOLOGIES, INC., Northrop Grumman Corporation, Rockwell Collins, Inc., Saab AB, Thales Group.
Verified Market Research has segmented the Global Radar Systems Market On the basis of Type, Application, End-Use, and Geography.
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