Insights Into The Radar Market’s Growth Opportunities Through 2023-2032 – Includes Radar Market Share
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An increase in seaborne trade globally are expected to drive innovation in radar manufacturing, thus driving the market during the forecast period.
The global radar market is expected to grow from $32.93 billion in 2022 to $35.41 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The radar market size is expected to grow to $45.55 billion in 2027 at a compound annual growth rate (CAGR) of 6.5%.
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- By Type:Detection And Search, Targeting Radars, Weather Sensing Radars, Navigational Radars, Mapping Radars, Other Types
- By Component:Antenna, Transmitter, Receiver, Other Components
- By Range:Long, Medium, Short
- By End Use:Military, Aviation, Weather Forecast, Ground Traffic Control, Others End Uses
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global radar market in 2021.
Major Market Players in the radar market include Lockheed Martin Corporation, BAE Systems, Saab Group, L-3 Communications Holdings, Northrop Grumman Corporation, Dassault Aviation, Thales Group.
Technological innovation is a key trend gaining popularity in the radar market. Radars are used today to detect and track aircraft, spacecraft, ships at sea, and insects and birds in the air. The market is witnessing the demand for active electronically scanned array (AESA) radar systems because of their superior target power, spatial resolution, and robustness compared to conventional radars. AESA is a fully active radar array that consists of multiple antennas, each with its phase and gains control. Major companies engaged in the radar market are focused on technological innovation to sustain their marketplace. For instance, in September 2021, Raytheon Intelligence & Space, a US-based aerospace and defense company, launched a new lightweight AESA radar for any platform. It combines the power of a heavyweight AESA fire control radar with a minor possible form factor. This radar combines the power of Gallium Nitride technology with an intelligent packaging of its digital receiver/exciter and processor with a unique air-cooled design to deliver Gen 4-plus performance.
The Radar Global Market Report 2023 provides a radar market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The radar market forecast analyzes radar market size, radar market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Radar refers to a system that emits radio waves and processes their reflections for display. Radar devices are synchronized with radio transmitters and receivers, mainly used for detecting and locating objects. It has an electromagnetic sensor that detects, finds, tracks, and recognizes objects in the atmosphere, such as aircraft, spacecraft, ships, insects, and birds.
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