Global Radar Market Value Rested at .37 Billion by End of 2018
Posted by niharika on July 22nd, 2019
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 .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.
View Full Table Of Content Of Radar Market
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
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
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life Sciences and Healthcare.
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Joined: July 9th, 2019
Articles Posted: 64
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