According to a report published by Million Insights, the global radar market size is anticipated to reach USD $38.01 Billion by 2025. This segment will register a growth rate of 3.8% (CAGR) from 2019 to 2025. This growth can be attributed to a rising need for security and safety owing to an increasing number of crimes, international conflicts, and terrorism across the globe.
The antenna segment is anticipated to hold the largest share across the global market during the forecasted period due to surging demand for the processing of digital signals. On the other hand, the transmitter segment held a share of 16% across the global market due to their usage for the creation of frequency pulses having high power and short duration which are further radiated by the connected antennas.
The airborne platform segment generated a revenue of USD $8.8 Billion in 2018 owing to surging need across the majority of the aircraft for good performance in missions. Moreover, the ground base systems segment is expected to register significant growth in the upcoming years owing to the need for locating the targets and strengthening of the cavalry units among the developing countries.
Asia Pacific held the second-largest share across the global market in 2018 due to the factors like increasing manufacturing bases, SME's presence, surging adoption of radar technology, and rising international sea trade. North American is also expected to register substantial growth during the forecasted years owing to rising trade with other countries through airways and waterways.
Key findings from the report:
- The component segment of antenna held the largest share across the global market in 2018.
- The installation/integration service segment is anticipated to generate USD 6,127.5 Million until 2025.
- In 2018, the X-band frequency segment held the second-largest share across the global radar market.
- Key players across this industry are Collins Aerospace; Lockheed Martin Corporation; BAE Systems and Northrop Grumman Corporation.
The radar market includes key players such as Collins Aerospace; Lockheed Martin Corporation; BAE Systems; and Saab AB. They are engaged in producing radars that can be used systems being used for ground and air traffic monitoring. Moreover, several marketing strategies are being implemented by these players to gain a competitive advantage over others.
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