Yahoo Finance Solid State Radar Market Worth $3.3 Billion by 2030 - Exclusive Report by Meticulous Research®
Solid State Radar Market by Frequency Band, Dimension, Waveform, Application, End User (Automotive, Aviation, and Other End User), and Geography - Global Forecast to 2030
Redding, California, Feb. 09, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Solid State Radar Market by Frequency Band, Dimension, Waveform, Application, and End User (Automotive, Aviation, and Other End User), and Geography—Global Forecast to 2030”, the global solid state radar market is projected to reach $3.3 billion by 2030, at a CAGR of 7.5% from 2023 to 2030.
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Solid-state radar, or broadband radar, is the primary type of radar for modern tactical applications powered by semiconductor technology rather than a vacuum tube. This device is used across automotive, aviation, weather monitoring, and military & defense industries. It can be used for different applications, including detection, tracking and surveillance, weapon control and missile guidance, tracking and detecting satellites and spacecraft, weather conditions, and ship navigation.
The growth of this market is driven by the increased demand for advanced weather monitoring radars and the growing demand for solid state phased array radar systems from the defense sector. However, the high manufacturing cost may restrain the market’s growth. The growing demand for 3D solid-state radars and the surge in demand for air surveillance radars are expected to offer significant growth opportunities for stakeholders in the solid state radar market. Furthermore, the consistent development in countering existing radar technology is expected to pose a challenge to the growth of the solid state radar market.
Impact of COVID-19 on the Solid State Radar Market
The COVID-19 pandemic created several challenges for the solid state radar market due to the lockdowns imposed during the second and third quarters of 2020. The pandemic lowered end users’ financial potential, which decreased the sales of different solid-state radar systems. However, in 2021, many industries, including automotive, aviation, military and defense, started recovering from the economic setbacks triggered by the pandemic. Due to delayed orders, the COVID-19 pandemic moderately impacted the solid state radar market. COVID-19 severely impacted the global automotive and industrial sector, as the production facility stalled. As a result, large-scale manufacturing interruptions across Europe and manufacturing disruption in China on exports may hinder the growth of the solid state radar market.
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The global solid state radar market is segmented by frequency band (S-band, X-band, L-band, C-band, Ka-band, Ku-band, other bands [N band, W band]), dimension (2D, 3D, and 4D), waveform (doppler and frequency modulated continuous wave), application (airspace monitoring & surveillance, weather monitoring, collision warning, navigation, and airport perimeter security), end user (automotive, aviation, military & defense, meteorology institutes, and other end users). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on frequency band, the global solid state radar market is segmented into S-band, X-band, L-band, C-band, Ka-band, and Ku-band. In 2023, the S-band segment is estimated to account for the largest share of the global solid state radar market. The large market share of this segment is attributed to the increasing need to produce accurate and reliable observations under severe weather conditions, growing demand for radar systems for various hydrometeorological and navigation applications, and increasing implementations of S-band radar systems for civilian and military aircraft navigation. Additionally, this segment is projected to register the highest CAGR during the forecast period.
Based on application, the global solid state radar market is segmented into airspace monitoring & surveillance, weather monitoring, collision warning, navigation, and airport perimeter security. In 2023, the airspace monitoring & surveillance segment is estimated to account for the largest share of the global solid state radar market. The large market share of this segment is attributed to the increasing demand for solid state radar systems to detect all flight movements in specific airspace and the increasing demand for air traffic control radar (ATC) for the surveillance of scheduled flights. Additionally, this segment is projected to register the highest CAGR during the forecast period.
Based on end user, the global solid state radar market is segmented into automotive, aviation, military & defense, meteorology institutes, and other end users. In 2023, the aviation segment is estimated to account for the largest share of the global solid state radar market. The large market share of this segment is attributed to the growing need for radar systems to track aircraft, the increasing need to provide precision approach guidance to aircraft landing, and the growing need to understand situational awareness of hazardous weather, especially thunderstorms.
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However, the automotive segment is projected to register the highest CAGR during the forecast period. The higher growth of this segment is attributed to the growing demand for automotive radar for enabling intelligent and autonomous features in modern vehicles, such as relieving drivers from monotonous tasks, reducing driver stress, and adding life-saving automatic interventions. Further, the increasing need to enable essential safety and comfort features, including adaptive cruise control and automatic emergency braking systems, is improving the demand for solid state radar in the automotive industry, which is expected to promote the market's growth.
Based on geography, the global solid state radar market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is estimated to account for the largest share of the global solid state radar market. North America’s major market share is attributed to the increasing demand for solid-state phased array radar systems by the defense sector, growing demand for advanced weather monitoring radar systems, and cost-effective solid state radar systems. Furthermore, the increasing adoption of solid state radars in navigation, border security & surveillance, and traffic management applications is promoting the regional market's growth. However, Asia-Pacific is projected to register the highest CAGR during the forecast period. Regional countries like India, Japan, and China are witnessing a higher need for modern naval radars with advanced technology. In addition, the requirement for anti-ballistic missile systems in the defense services is expected to need solid state radar systems. The growing aerospace sector and rising demands for surveillance of global threats in the region have fuelled the deployment of solid state radar systems in emerging economies such as China, India, Malaysia, and others, in turn, is expected to promote the growth of the market.
Some of the key players operating in the global solid state radar market are Thales Group (France), Honeywell International Inc. (U.S.), Raytheon Technologies Corporation (U.S.), GARMIN LTD. (U.S.), Indra Sistemas, S.A. (Spain), Japan Radio Co., Ltd. (Japan), ICS Technologies, Inc (Italy), Terma Group (Denmark), Reutech Radar Systems (South Africa), FURUNO ELECTRIC CO., LTD. (Japan), BAE Systems plc (U.K.), Blighter Surveillance Systems Limited (U.K.), GEM Electronica (Italy), ELBIT SYSTEMS LTD. (Israel), and Lockheed Martin Corporation (U.S.).
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Scope of the Report:
Solid State Radar Market, by Type
S-band
X-band
L-band
C-band
Ka-band
Ku-band
Other bands
Solid State Radar Market, by Dimension
2D
3D
4D
Solid State Radar Market, by Waveform
Doppler
Frequency Modulated Continuous Wave
Solid State Radar Market, by Application
Airspace Monitoring & Surveillance
Weather Monitoring
Collison Warning
Navigation
Airport Perimeter Security
Solid state radar Market, by End User
Automotive
Aviation
Military & Defense
Meteorology Institutes
Other End Users
Solid State Radar Market, by Geography
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
South Korea
Rest of Asia-Pacific
Latin America
Middle East & Africa
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