RADAR Market Overview:
Global RADAR market size is estimated to reach $10.4 billion by 2022, growing at a CAGR of 3.9% from 2016 to 2022. Radio Detection and Raging (RADAR) is an electronic equipment used to track an object using radio waves. It determines the spread, angle, and speed of the object falling within its radius. It is also used to forecast and detect the spacecraft, aircraft, missiles, weather, and other form of vehicles. RADAR was initially developed for defense and military purposes but with upcoming technologies and innovation, it finds its application in air traffic control, astronomy, air-defense system, anti-missiles systems, marine, aircraft anti-collision system, meteorological monitoring, and more.
Advanced RADAR systems are used for digital signal processing and are helpful to extract useful information from high noise level. Introduction of new types of RADAR system has enhanced the development in technology, thus helping countries when it comes to security issues. Major factors that are driving the global RADAR market are increase in demand for the RADAR system and investment in defense due to increase in security related issues. However, adverse climatic condition, which sometimes results in malfunctioning of the RADAR system restricts the market growth.
Factors Impacting RADAR Market
The report segments the global RADAR market based on type and geography. Based on type, the market is classified into naval, airborne, ground-based and space-based. Geographically, the market is studied across North America (U.S., Canada, and Mexico), Europe (France, Germany, Italy, UK, and rest of Europe), Asia-Pacific (China, South Korea, Japan, India, and rest of Asia-Pacific), and LAMEA.
The key players profiled in the report include Northrop Gruman Corporation, Lockheed Martin Corporation, SAAB AB, Rockwell Collins Inc., Thales Group, Kelvin Hughes, L-3 Communications Holdings, General Dynamics Corporation, Dassault Group, SRC Inc., Honeywell International Inc., Leonardo-Finmeccanica-Corporation, Harris Corporation, and others.
New Types of RADAR Technologies
New types of RADAR systems with different characteristics have emerged recently, which have led to increase in demand for RADAR systems. The different types of RADAR systems are airborne ground surveillance RADAR that through use of the newest ultra-high-resolution RADAR technology can inspect wide areas and stationary targets while at the same time detecting and tracking moving targets at great distances and next generation RADAR technology by Lockheed Martin Corporation. Every new RADAR technology comes up with an innovative idea and unique features to attract customers.
Potential Benefits for Stakeholders:
- This report provides an in-depth analysis of the global RADAR market, along with current trends and future estimations to identify lucrative investment opportunities.
- It identifies the key drivers, opportunities, and restraints that shape the market along with their impact analysis.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers that participate in this market to facilitate better decision-making for stakeholders and strengthen their supplier and buyer networks.
RADAR Market Key Segmentation
The market is segmented based on type and geography.
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Market Players in Value Chain
- Northrop Gruman Corporation
- Lockheed Martin Corporation
- SAAB AB
- Rockwell Collins Inc.
- Thales Group
- Kelvin Hughes
- L-3 Communications Holdings
- General Dynamics Corporation
- Dassault Group
- SRC Inc.
- Honeywell International Inc.