Meticulous Research®—a leading global market research company, published a research report titled, The Radar Market by Type, Dimension Type, Frequency Band Type, Installation Type, End-user, and Geography—Global Forecast to 2029.
The radar market is projected to reach $38.4 billion by 2029, at a CAGR of 7.6% from 2022 to 2029. The growth of this market is attributed to the rising demand for radar systems in automotive and defense industries, the surge in demand for advanced weather monitoring radar systems, and the development of phased array solid-sate radar. Furthermore, the increasing investments to upgrade aircraft radar systems and the rising adoption of radar-based unmanned aerial vehicles are expected to create significant opportunities for players operating in this market.
However, the stringent cross-border trading policies and susceptibility to new jamming techniques are likely to pose challenges to the growth of this market. Additionally, the high cost of radar systems is restraining market growth.
The global radar market is segmented by type, dimension, frequency band type, installation type, end user, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.
Based on type, the global radar market is segmented into primary radar, secondary radar and other radar types. In 2022, the primary radar segment is expected to account for the largest share of the radar market. The large share of this segment can be attributed to the use of primary radar for accurately detecting non-cooperative targets over the full radar coverage. The advantages of primary radar are that no onboard equipment in the aircraft is necessary for detecting the target and that it is used to monitor the movement of vehicles on the ground.
Based on dimension type, the global radar market is segmented into 2D radar, 3D radar, 4D radar, and other dimensions. In 2022, the 3D radar segment is expected to account for the largest share of the radar market. The segment’s growth is attributed to the growing adoption of air surveillance, defense applications such as long-range warning systems, detecting enemies, missiles and suspicious aircraft and weather monitoring. 3D radar technology is widely preferred to precisely predict natural disasters, flood monitoring, earthquake, and many other calamities.
Based on frequency band type, the global radar market is segmented into L-band, S-band, C-band, X-band, Ku-band, Ka-band, and other frequency bands. In 2022, the X-band segment is expected to account for the largest share of the radar market. Factors such as an increase in the number of sea vessels & offshore installations and increasing use of radars for ship traffic control & navigation are driving the growth of the segment. An X-band radar is mainly used in ships and large vessels to continuously monitor an area of the sea surface for several square kilometers.
Based on installation type, the global radar market is segmented into ground-based radar, marine radar, airborne radar, spaceborne radar, and other installation types. In 2022, the airborne radar segment is expected to account for the largest share of the radar market. The increasing fleet of commercial aircraft drives the growth of the airborne platform segment due to the growing air passenger traffic.
Based on end user, the global radar market is segmented into automotive & mobility, aerospace & defense, industrial, consumer, healthcare, and other end-users. In 2022, the aerospace & defense segment is expected to account for the largest share of the radar market. The large market share of this segment is attributed to the increasing radar systems for missile weapon guidance, drone detection, space observation, naval wars, and weather forecast. Various defense agencies are particularly opting for unmanned aerial vehicles (UAVs) to patrol their borders, and radar systems are becoming very effective in establishing seamless communication with the UAVs. Defense agencies are also adding the provision for inspection, testing, and support & maintenance services while issuing UAV radar systems contracts.
Based on geography, the global radar market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the radar market. The region’s large share is attributed to technological advancements, such as quantum radar. This technology helps detect objects with greater accuracy than conventional systems. It is undergoing trial phases at the University of Waterloo and is expected to be launched by 2025. Key Players:
The key players profiled in the global radar market study include DRS RADA Technologies (Israel), Thales Group (France), Honeywell International Inc. (U.S.), Lockheed Martin Corporation (U.S.), Rosoboronexport (Russia), Raytheon Anschütz (Germany), Saab AB (Sweden), Northrop Grumman Corporation (U.S.), Israel Aerospace Industries Ltd. (Israel), General Dynamics Mission Systems, Inc. (U.S.), BAE Systems plc (U.K.), ASELSAN A.Ş. (Turkey), L3Harris Technologies, Inc. (U.S.), Airbus SE (Netherlands), and Elbit Systems Ltd. (Israel). Download Sample Copy Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5404
Key Questions Answered in the Report:
· Which are the high-growth market segments in type, dimension type, frequency band type, installation type, end-user and geography?
· What is the historical market size for radar across the globe?
· What are the market forecasts and estimates for the period 2022–2029?
· What are the major drivers, restraints, opportunities, and challenges in the global radar market?
· Who are the major players in the market, and what are their market shares?
· How is the competitive landscape for the global radar market?
· What are the recent developments in the global radar market?
· What are the different strategies adopted by the major players in the market?
· What are the key geographic trends, and which are the high-growth countries?
· Who are the local emerging players in the global radar market, and how do they compete with other players?
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