Global Radar Market Value Rested at $24.37 Billion by End of 2018
A RADAR is an electronic detection system used for detecting objects within a specific range with the implementation of radio waves. Significant parts of a radar system are antenna, emitter, transmitter, and receiver. Development of nuclear weapons and missiles, increasing conflicts between several neighboring countries, rising threats from terrorists, and growing emphasis on security concerns are the vital factors driving the growth of the radar market as per a newly published market research report by IndustryARC. The report has assessed the global radar market revenue to be $24.37 billion in 2018. Furthermore, the growing demand is anticipated to help the market grow at a CAGR of 4.32% during the forecast period 2019-2025.
The report is titled “
Radar Market: By Product (X, S, HF, VHF, UHF Bands) & By Application (Military, Air Traffic Control, Aerospace and Defense, Automotive, Anti-missile Systems, Surveillance Systems, Aircraft Anti-collision Systems & Others) Forecast (2019-2025).” It gives an in-depth analysis of the market drivers, market value chain, restraints, growth indicators, market trends, challenges, future outlook, and market insights.
Radar Market: Leading Segments
North America held the major share of the global radar market, accounting for 37.48% of the total revenue generation in 2018. Technological advancements owing to high economic rate, blooming investments by private and government organizations, and versatile applications of radars are the factors that helped North America to dominate the market. Due to its enriched natural resources, development, technology advancement, and power, North America is highly prone to various threats from other counties and terrorist organizations. Considering the aforementioned problem, North America increased its funding for military and defense systems, thereby increasing the demand for radar systems, which play a vital role in security applications.
The Radar market is bifurcated by application into military, air traffic control, aerospace and defense, automotive, anti-missile systems, surveillance systems, aircraft anti-collision systems, and others. High budget allocations by governments, amendment of technology in military processes, and increasing adoption of radar equipment are the factors propelling the growth of the military radar market. As a result, key market players have capitalized on this application segment, which is anticipated to grow at a CAGR of 5.75% through 2025.
Radar Market Disruptive Trends
Lockheed martin has developed the GaN-based Digital Arrow Row Transceiver (DART). This technology is being adopted in radar systems as it provides the radars with high detection capabilities.
SPAR Tiles, also known as scalable planar array tiles, lower the overall manufacturing cost of the radar systems. With this technology, radar systems are made affordable to the customers.
3D radar systems are gaining momentum owing to their various significant benefits and multiple applications. These systems provide accurate data, can detect threats with minimal warning, and have a wide range of surveillance applications. This technology eliminates the hindrance of electromagnetic jamming.
Radar Market: Competitive Landscape
The global radar market is consolidated and the prominent companies holding majority share are Lockheed Martin, SAAB, Northrop Gruman, Thales, Dassault, Honeywell, Rockwell Collins, General Dynamics, L3, Kelvin Hughes, BAE Systems, Finmeccanica, Selex, IAI, and Qinetiq.
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Doppler Radar Market
Automotive Radar Market
What can you expect from the report?
The radar market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in the application or end user industry chapter
2. Increase the number of countries in the geography chapter
3. Find out market shares for other smaller companies or companies that are of interest to you
4. Company profiles can be requested based on your interest
5. Patent analysis, pricing, product analysis, product benchmarking, and value and supply chain analysis can be requested for a country or end use segment.
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