Solid State Radar Market Opportunities - Growing Investments Across the Defense Sector in the APAC Region

Posted December 14, 2021 by ctom7000

The COVID-19 pandemic has substantially impacted the value chain of the solid state radar market.
The solid state radar market is projected to grow from USD 1.7 billion in 2021 to USD 2.0 billion by 2026; it is expected to grow at a CAGR of 4.2% from 2021 to 2026. The key factors fueling the growth of the market include advancements in solid state radar technologies, development of phased-array solid state radar, and increased demand for advanced weather monitoring radar. Additionally, the growing investments across the defense sector in the APAC are expected to create an opportunity for the solid state radar market.

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The 3D segment to hold the largest size of solid state radar market by 2026

The 3D solid state radars are used in applications, such as surveillance, navigation, and weather monitoring. These 3D radars can provide high target location accuracy along and fully automatic operation modes, which has resulted in an increased demand for these radars in the military.

The non-commercial to account for the largest size of the solid state radar market in 2021

The solid state radars are used by police forces, border security forces, coastal & maritime patrol officers, and search & rescue operatives. These radars are also used to detect targets and determine their position, course, and speed over a long-range. Solid state radars facilitate intelligence gathering, surveillance, and reconnaissance. Thus, all these factors are expected to drive the growth of solid state radar market for this segment.

North America is projected to be the largest market for a solid state radar from 2021 to 2026

The increased adoption of solid state radars in the navigation, border security, surveillance, and traffic management applications is the major reason for the growing demand for radars in the commercial as well as non-commercial industries. The demand for solid state radars is expected to increase with the growing investments across the defense sector in the region.

Key Market Players

The solid state radar players have implemented various types of organic as well as inorganic growth strategies, such as new product launches, and acquisitions to strengthen their offerings in the market. The major players in the solid state radar market are Lockheed Martins (US), Raytheon Technologies (US), Honeywell (US), Thales Group (France), Leonardo (Italy), Elbit Systems (Israel), Garmin (US), Indra (Spain), Wartsila (Finland), and Teledyne Flir (US), Furuno (Japan), Terma (Denmark), Aselsan (Turkey), Tokyo Keiki (Japan), Simrad (Norway), EWR Radar Systems (US), Blighter Surveillance Systems (UK), GEM Elettronica (Italy), Gamic, Hensoldt (Germany), Reutak Radar Systems (South Africa), Japan Radio (Japan), Easat (UK), Lowrance (US), ICS Technologies (Italy).
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Issued By Tom
Country United Kingdom
Categories Aerospace
Tags solid state radar market
Last Updated December 14, 2021