Radar Apparatus Market

The article discusses the increasing demand for radar apparatus worldwide, with the market projected to expand at a CAGR of +2.5% in terms of volume and +3.6% in value from 2022 to 2030. The United States leads in consumption and production, while Singapore is the major exporter. Import prices have seen fluctuations, with Singapore having the highest price per unit. The global radar apparatus market is expected to see continued growth in the coming years.

Market Forecast

Driven by increasing demand for radar apparatus worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 31M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $21.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Radar Apparatus

In 2022, the amount of radar apparatus consumed worldwide amounted to 26M units, increasing by 4.1% compared with 2021. The total consumption volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, global consumption hit record highs at 26M units in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global radar apparatus market value was estimated at $16B in 2022, picking up by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The United States (11M units) constituted the country with the largest volume of radar apparatus consumption, comprising approx. 43% of total volume. Moreover, radar apparatus consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada (3.9M units), threefold. Sweden (2.8M units) ranked third in terms of total consumption with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States amounted to +22.8%. In the other countries, the average annual rates were as follows: Canada (+32.3% per year) and Sweden (-4.3% per year).

In value terms, the largest radar apparatus markets worldwide were Lithuania ($2.1B), the United States ($1.6B) and France ($1.4B), with a combined 32% share of the global market.

Among the main consuming countries, Lithuania, with a CAGR of +61.6%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of radar apparatus per capita consumption in 2022 were Lithuania (384 units per 1000 persons), Singapore (333 units per 1000 persons) and Sweden (268 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +64.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Radar Apparatus

In 2022, production of radar apparatus increased by 7.8% to 23M units, rising for the third year in a row after two years of decline. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, radar apparatus production rose to $11.6B in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 7.4% against the previous year. Over the period under review, global production hit record highs at $11.8B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

Singapore (9.6M units) remains the largest radar apparatus producing country worldwide, accounting for 41% of total volume. Moreover, radar apparatus production in Singapore exceeded the figures recorded by the second-largest producer, Sweden (2.8M units), threefold. China (2.5M units) ranked third in terms of total production with an 11% share.

In Singapore, radar apparatus production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (-4.3% per year) and China (+13.9% per year).

Imports

World Imports of Radar Apparatus

In 2022, approx. 23M units of radar apparatus were imported worldwide; jumping by 35% on 2021. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 49%. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, radar apparatus imports rose slightly to $6.6B in 2022. Overall, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 32%. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports By Country

The United States was the main importer of radar apparatus in the world, with the volume of imports resulting at 13M units, which was near 56% of total imports in 2022. Canada (4M units) ranks second in terms of the total imports with a 17% share, followed by China (11%) and Mexico (8.6%). Singapore (463K units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to radar apparatus imports into the United States stood at +24.7%. At the same time, China (+59.9%), Mexico (+28.0%) and Canada (+27.7%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +59.9% from 2012-2022. By contrast, Singapore (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, the United States, Canada and Mexico increased by +10, +7.8, +5.4 and +2.9 percentage points, respectively.

In value terms, the United States ($1.1B) constitutes the largest market for imported radar apparatus worldwide, comprising 17% of global imports. The second position in the ranking was held by China ($429M), with a 6.5% share of global imports. It was followed by Canada, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +8.4%. In the other countries, the average annual rates were as follows: China (+13.8% per year) and Canada (+10.3% per year).

Import Prices By Country

In 2022, the average radar apparatus import price amounted to $282 per unit, waning by -23.6% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2016 an increase of 11%. Global import price peaked at $960 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($205 per unit), while Mexico ($54 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.8%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Radar Apparatus

In 2022, global radar apparatus exports skyrocketed to 21M units, rising by 48% compared with 2021. Overall, exports showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 57% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, radar apparatus exports contracted to $7B in 2022. Over the period under review, exports saw resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 30%. Over the period under review, the global exports hit record highs at $7.7B in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports By Country

Singapore represented the major exporting country with an export of about 8.1M units, which amounted to 39% of total exports. It was distantly followed by China (4.8M units), Mexico (4.1M units) and the United States (1.9M units), together committing a 52% share of total exports. The UK (354K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +69.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.1B), Singapore ($587M) and China ($334M) constituted the countries with the highest levels of exports in 2022, with a combined 30% share of global exports.

Among the main exporting countries, Singapore, with a CAGR of +23.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average radar apparatus export price amounted to $333 per unit, waning by -32.9% against the previous year. In general, the export price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 15%. As a result, the export price reached the peak level of $1,198 per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the UK ($897 per unit), while Mexico ($36 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-7.6%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform