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RADAR Market By Type (Pulsed-Wave, Continuous Wave), By Component (Antenna, Transmitter, Receiver, Others), By Range (Long, Medium, Short), By End-use (Military, Aviation, Weather Forecasting, Ground Traffic Control, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

New Areas of Applications to Boost RADAR market Worldwide

Technological up-gradation in the RADAR system has widened its application in multiple sectors such as aviation, automotive, marine, meteorology, etc. RADARs are increasingly deployed for air traffic control, remote sensing, and ground traffic control. Additionally, the increase in sea trade among countries of the world and the rising number of travel by ships have further influenced the demand for RADAR across the globe. Moreover, the global aviation industry has been growing exponentially over the last few years. It is expected to keep its growth rate until 2035, doubling the current passenger number of 3.8 Bn, per the International Air Transport Association (IATA).

The significant contribution to this growth is from the Asia Pacific, experiencing rapid development in its aviation sector with an increasing number of passenger travel and cargo planes & ships. In August 2018, China stated that it would encourage US$ 16 Bn of private investment in its 28 airports to make the sector globally competitive. The growth of the air travel industry has encouraged market players to offer RADARs in order to enhance flight safety.

Market Snapshot

Aviation Segment to keep Driving RADAR Market

With the growing aviation industry and economic development, the aviation segment garnered a major share of the market. In the year 2018, based on end-use, the aviation segment led the market with nearly 35%, in terms of revenue, of the total market size of the globe. In 2018, over 1900 aircraft were delivered to airlines, which kept the demand for RADAR in the aviation sector increasing. In addition, technological development such as the RDR-7000 of Honeywell International Inc., which gives the 3D mapping of storms and hail while flying, is greatly helpful to pilots. Such new development in RADAR technology is expected to lift the market during the forecast period further.

Asia Pacific is estimated to register the highest CAGR.

In 2018, North America was the largest regional market, with over 30% share, in terms of revenue. However, with economic development, Asia Pacific is going through rapid progress in the aviation sector, which is expected to raise the demand for RADAR during the forecast period. Also, free trade agreements have increased the sea trade of Asian economies with other countries that are further expected to influence the RADAR market in the near future. For instance, China maintains free trade agreements with 16 countries or regional groups like ASEAN. Furthermore, besides the long-term enmity of countries in the region like China with India and other ASEAN countries, the military's rapid modernization with escalating defense spending will further boost the RADAR market in the region. Recently, in June 2019, China developed a new high-frequency surface wave radar that can detect stealth aircraft like F-35 and anti-radiation missiles hidden from other early warning systems.

New Technological Development is keeping the Market Competitive

Major players profiled in the RADAR market include BAE Systems, Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation, Airbus S.A.S., Honeywell International Inc., Leonardo S.p.A., Thales Group, Saab AB, Reutech Radar Systems, TERMA, and Infineon Technologies AG among others.

The overall RADAR market is slightly fragmented, and companies are improving their current technology to expand their global market share. For instance, in August 2019, Northrop Grumman Corporation introduced its new scalable RADAR antenna (RAPTR), capable of providing better situational understanding to fighter pilots. The system operates in multiple RADAR modes, including synthetic aperture RADAR and ground moving target indicator. With this improved RADAR, the company is expecting to grab major defense deals in the future. Furthermore, in June 2019, Honeywell International Inc. signed an agreement with yet to be named air taxi developer to supply its IntuVue RDR-84K Band RADAR system. This RADAR is capable of detecting multiple objects in and around the flying path of an air taxi. This agreement is expected to grow the company's share in the global RADAR market.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

RADAR market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global RADAR market based on type, component, range, end-use, and geography.

Frequently Asked Questions

The market for RADAR is expected to reach US$ XX Bn in 2027.

The RADAR market is expected to see significant CAGR growth over the coming years, at 4.12%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

BAE Systems, Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation, Airbus S.A.S., Honeywell International Inc., Leonardo S.p.A., Thales Group, Saab AB are some of the major players in the global market.

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Published Date:  Nov 2019
Category:  Technology & Media
Report ID:   60058
Report Format:   PDF
Pages:   140
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
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