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Digital Radar Market worth $13.7 billion by 2029 - Exclusive Report by MarketsandMarkets™


News provided by

MarketsandMarkets

17 Jul, 2024, 14:01 GMT

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CHICAGO, July 17, 2024 /PRNewswire/ -- The digital radar market is projected to grow from USD 5.9 billion in 2024 and is expected to reach USD 13.7 billion by 2029, growing at a CAGR of 18.2% from 2024 to 2029 according to a new report by MarketsandMarkets™. The integration of digital radar in defense operations is one of the key factors leading to emergence of digital radar technologies. The effective detection and response to possible threats is made possible by the presence of a strong knowledge of the situation in the military. Modern radar technology is able to detect many different objects because of its high accuracy and comprehensive view, regardless of the place and mission. Since digital radar employs cutting-edge algorithms of signal processing and employs high-resolution images, it is one of the best systems that can offer better accuracy or reliability as far as detection and tracking of objects both airborne and surface are concerned.

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Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=156613842

Browse in-depth TOC on "Digital Radar Market" 
100 – Tables
60 – Figures
240 – Pages

Digital Radar Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 5.9 billion

Estimated Value by 2029

$ 13.7 billion

Growth Rate

Poised to grow at a CAGR of 18.2%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Dimension, Application, Vertical and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Electromagnetic jamming and interface issue

Key Market Opportunities

Growth of unmanned aerial vehicles

Key Market Drivers

Rising demand of digital radar for enhanced weather detection and monitoring


Active digital radar market is expected to witness higher CAGR during the forecast period.

Active segment is expected to witness a higher CAGR during the forecast period in the digital radar market. Due to their groundbreaking functionality, active radars are receiving high public demand. These functions include border security, air traffic control, and military operations. Moreover, the application of active radars has been boosted by improvement in radar technology which include better signal processing and increased detection range as well as higher resolution.

The 2D & 3D segment in the digital radar market is expected to capture a higher share during the forecast period.

2D & 3D radars have experienced rapid growth due to a few important features such as less complicated design, comprehensive detection, and improved accuracy. Such features contribute to their use within safety control, monitoring systems and military machinery. In order to enhance competitiveness within the market; some participants in the 2D & 3D digital radar ecosystem have taken up organic growth strategies such as product developments and partnerships.

Automotive is expected to witness the highest CAGR in the digital radar market during the forecast period.

The automotive segment is expected to witness the highest growth in the digital radar market during the forecast period. 4D radars in autonomous vehicles produces higher-resolution images from which more detailed speed, range, height, and depth information can be obtained. Consequently, the improved performances enable the sensor to enhance its object detection and classification under adverse atmospheric conditions, such as fog, rain or darkness. The market is expanding quickly because of the rising need for ADAS and autonomous driving features of cars. The increase is due to greater attention paid to vehicle safety as well as an improved self-driving technology.

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North America is expected to hold the largest share of the digital radar market during the forecast period.

North America dominates in the digital radar industry driven by substantial investments in military & defense advancement, and rapid adoption of new motorcar safety technologies. These factors help promote the development of the region's main players like defense giants and in technical innovations. Leading companies such as Lockheed Martin Corporation (US), Northrop Grumman (US), and RTX (US) are pivotal in driving this market in North America.

Key Players

Leading players in the digital radar companies include Lockheed Martin Corporation (US), Thales (France), Indra (Spain), Leonardo S.p.A. (Italy), Bharat Electronics Limited (India), Advanced Micro Devices, Inc. (US), Magna International Inc. (Canada), NXP Semiconductors (Netherlands), Saab AB (Sweden), and Uhnder (US), Israel Aerospace Industries (Israel), BAE Systems (UK), Elbit Systems Ltd. (Israel), Vayyar (Israel), Arbe (Israel), Ainstein Radar Systems (US), Oculii (US), Spartan Radar, Inc. (US), Cubtek Inc. (Taiwan), ASELSAN A.S. (Turkiye), Teledyne FLIR LLC (US), Echodyne Corp (US) Bitsensing (South Korea), RFISee (Israel), Gapwaves AB (Sweden) are few other key companies operating in the digital radar market.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=156613842

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Radar Security Market by Surveillance Type (Ground, Air, Marine), Range (Long, Medium, Short), Application (Border Security, Seaport and Harbor, Critical Infrastructure), and Geography - Global Forecast to 2022

LiDAR Market by Component (Laser Scanners, Navigation and Positioning Systems, Other Components), Installation (Airborne, Ground-based), Type (Mechanical, Solid-state), Range (Short, Medium, Long), Service, Region - Global Forecast to 2029

Solid State Radar Market by Dimension (2D, 3D, 4D), Frequency Band (S-band, X-band, L-band), Waveform (Doppler, FMCW), Application (Navigation, Weather Monitoring), Industry and Region

LiDAR Drone Market by LiDAR Type (Topographic, Bathymetric), By Component (LiDAR Lasers, UAV Cameras), Drone Type (Rotary-wing, Fixed-wing), Range (Short-range, Medium-range, Long-range), Application, Region - Global Forecast to 2027

Time-of-Flight (ToF) Sensor Market by Resolution (QQVGA, HQVGA, QVGA, & VGA), Application (Augmented Reality & Virtual Reality, LIDAR, Machine Vision, 3D Imaging & Scanning, and Robotics & Drone), Product Type, Vertical and Geography - Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/digital-radar-companies.asp
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