Global Weather Radar Market Size, Forecast, and Trend Highlights Over 2025-2037
Weather Radar Market size was valued at USD 3.7 billion in 2024 and is projected to reach USD 7.8 billion by the end of 2037, rising at a CAGR of 6.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of weather radar is estimated at USD 3.3 billion.
The market’s expansion can be mapped by the GDP growth and technology adoption curves. In 2024, the World Bank estimated that global GDP grew by 3%. The increase of GDP is intrinsically connected with the rising demand for advanced weather radar systems across varied sectors such as meteorology, aviation, and defense. Moreover, in 2024, FAA approved phased array radars for the use in U.S. airports, boding well for the greater adoption across commercial sectors.
An estimate over the next decade is that the price of components will reduce influenced by the radar manufacturers scaling up production and the economies of scale maturing. A 5% price reduction in radar systems is forecasted by FAA by the end of 2027, aligning the greater adoption of automation in manufacturing. To map the economic course of the market, the capex allocation of major players has been analyzed below:
|
Company |
2024 CapEx ($B) |
CapEx/Revenue (%) |
YoY Change (%) |
Primary Investment Focus |
|
Lockheed Martin |
1.8 |
5.6% |
+3.1% |
Advanced Radar Technologies |
|
Raytheon Technologies |
2.3 |
7.1% |
+4.2% |
Phased Array Radars |
|
L3Harris Technologies |
1.6 |
6.3% |
+2.6% |
IoT-enabled Radar Systems |
|
Honeywell International |
1.4 |
5% |
+3.2% |
Meteorological Radar Solutions |
|
Thales Group |
1.1 |
6.7% |
+3.9% |
Maritime Radar Systems |
The capital expenditure trends highlight that leading companies are focusing on the advent of next-generation radar technologies, especially those of phased array systems. Companies in the market are balancing long-term investments in innovation with a steady capital efficiency to expand revenue shares in the competitive market. A convergence of multiple factors has ensured that the market will maintain its growth throughout the forecast timeline.
