Report : North America Naval System Surveillance Radar Market Forecast to 2028– COVID-19 Impact and Regional Analysis– by Type (X-band and Ku-band, L-Band and S-band, and Others) and Application (Weapon Guidance System and Surveillance)
At 7.0% CAGR, the North America Naval System Surveillance Radar Market is speculated to be worth US$ 2,574.95 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the North America naval system surveillance radar market was valued at US$ 1,719.60 million in 2022 and is expected to reach US$ 2,574.95 million by 2028, registering an annual growth rate of 7.0% from 2022 to 2028.Growing importance of naval surveillance systems and rise in procurement of naval system surveillance radar are the critical factors attributed to the market expansion.
The days of monitoring coastline and submarine solely with human eyes, hoping to detect repeat offenders and known criminals using sometimes-out-of-date paper, are long gone (although still a vital part of the effort). Satellites and sensor-equipped unmanned aerial vehicles (UAVs), ships, boats, and naval ports constantly monitor the country's borders and coastlines. The rapidly growing need for interdiction, the wide range of sensors and platforms currently in use or planned, and the dozens of local, state, and federal agencies involved have all increased the need for shared intelligence at all levels via real-time networks, advanced communications systems, and artificial intelligence (AI). Further, refugee ships are currently one of the most pressing issues on the high seas, so the naval surveillance operations are critical for ensuring that all activities on the seas or oceans are conducted securely and that national and international security is not harmed. Additionally, the North America naval system surveillance radar market is driven by increasing marine safety and national safety awareness and an increase in trade and freight transport activities by the sea. Furthermore, increasing security concerns, rapid development in international marine trade, and regulatory compliance for maritime trade contribute to naval system surveillance radar market growth. Thus, implementing various rules and regulations for the better integration and regulation of maritime advanced security and surveillance system boosts the North America naval system surveillance radar market growth.
On the contrary,design constraints and component failure due to environment conditions hurdles the growth of North America naval system surveillance radar market.
- Based on type, the North America naval system surveillance radar marketis segmented into x-band and ku-band, l-band and s-band, and others. The x-band and ku-band segment held 53.4% market share in 2022, amassing US$ 918.15 million. It is projected to garner US$ 1330.61 million by 2028 to expand at 6.4% CAGR during 2022–2028.
- Based on application, the North America naval system surveillance radar market is bifurcated into weapon guidance system and surveillance. The surveillance segment held 66.8%market share in 2022, amassing US$ 1149.29 million. It is projected to garner US$ 1759.95 million by 2028 to expand at 7.4% CAGR during 2022–2028.
- Based on country, the North America naval system surveillance radar market has been categorised into US,Canada, and Mexico. Our regional analysis states that US captured 64.9% market share in 2022. It was assessed at US$ 1,116.40 million in 2022 and is likely to hit US$ 1,708.73 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.
Key players dominating the North America naval system surveillance radar market are Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Technologies Corporation; Saab AB; Thales Group; BAE Systems; Israel Aerospace Industries Ltd; Leonardo S.p.a; Ultra; and HENSOLDT,among others.
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