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(Wireless-NewsWire.Com, October 30, 2024 ) The Surface Radars Market will grow tremendously from 2020 through 2029, based on the increase in defense spending, escalations in geopolitical tensions, and needs for advanced border security and early warning systems. The surface radars market is projected to reach USD 22.49 billion by 2029, from USD 17.26 billion in 2024, at a CAGR of 5.4%.
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Technological innovations have therefore included AESA and digital types that increase the range, the detection capability, and even the resistance to countermeasures. AI-driven systems are recently on the rise; therefore, they can be used in real-time decision making and data processing with less human intervention.
The unmanned surface vehicles platform segment is expected to lead in the market share and grow at the highest CAGR during the forecast period under the market. USVs have increasingly been used by navies across the globe for naval surveillance, mine countermeasures, anti-submarine warfare, and ISR missions. These vehicles grant them the ability to operate in potentially hostile or contested environments without risking human life, a significant advantage in appeal to military forces.
Surveillance is most likely to grow the strongest during the forecasting period for surface radars, mainly because of growing demand for border security, maritime surveillance, and monitoring the airspace across geographically volatile regions and countries, in terms of security threats. This is further contributed by novel technologies at the radar front, specifically AESA and SAR that now offer better detection and tracking as well as monitoring capabilities across large areas.
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Key Market Players
The Surface Radars Market is highly competitive with many key players who are making use of a wide range of strategic initiatives aimed at upgrading their market share. Some of the major surface radars market players include are RTX (US), BAE Systems (UK), Thales (France), Leonardo S.p.A (Italy) and Lockheed Martin Corporation, (US). The major players are spending significantly on R&D to create more advanced radar systems, especially AESA radars, passive radars, and multi-domain solutions.
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