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

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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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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