According to recent research titled ‘ Surveillance Radar System Market Size, By Component (Hardware, Software), By Platform (Land, Air, Naval, Space), By Radar Range Type (Short Range, Medium Range, Long Range), By Application (Commercial, Military, Homeland, Security), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’ available with MarketStudyReport, global surveillance radar system market is expected to witness considerable growth through 2027

Global surveillance radar system market growth is primarily driven by the rise in the adoption of 3D sensors and AI in surveillance systems, escalating military expenditure, and the rising development of new technology. The other uses of surveillance radar systems in the military and defense sectors are providing security in poor visibility conditions, detecting long-distance targets, and searching a larger volume of space.

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The global surveillance radar system market is segmented into component type, application, radar range type, platform type, and regional forecasts. The component type is further split into hardware and software. In terms of platform segment, the market is classified into air, naval, land, and space. The report states that the space segment is predicted to record a 9% CAGR during the forecast period.  

Based on the application range, the market is divided into security, commercial, military, and homeland. In terms of radar range type, the industry is classified into short-range, medium-range, and long-range. The medium-range segment held a 20% market share in 2020 and is expected to showcase consistent growth during the forecast period.

The regional landscape of global surveillance radar system market is bifurcated into the Middle East & Africa, North America, Europe, Asia Pacific, and Latin America.

The competitive landscape of global surveillance radar system market is defined by companies such as Israel Aerospace Industries Ltd., Honeywell International Inc., Therma A/S, Thales Group, Saab Automobile AB, Northrop Grumman Corporation, Lockheed Martin Corporation, Raytheon Technologies Corp., L3Harris Technologies, L&T Defence, Elbit Systems Ltd., FLIR Systems Inc., Hensoldt AG, and BAE Systems plc.