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Region : Global | Published Date: Upcoming | Report ID: FBI100096| Status : Upcoming
3D Radar Systems is a technology used for tracking & detecting the visions and information and is an essential part of any defense inventory. 3D Radars Systems provide more accurate positioning as well as height parameters even in extreme weather conditions and therefore are gradually replacing the traditional 2D radars. The increase in the Unmanned Aircraft Vehicles (UAV’s) market has contributed to the growth of 3D radar Systems market. The U.S. is expected to have an estimated production of 2,530 UAV’s worth US$ 4.4 Bn and the worldwide production is expected to increase from US$ 4.2 Bn in 2017 to US$ 10.3 Bn in 2026.
The emergence of network-centric warfare and electronic warfare techniques by defence organizations owing to the growing need for intelligence, surveillance, etc. & the geopolitical instabilities in the Middle East is also expected to boost the market growth of 3D radar Systems market globally.
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The key players operating in the 3D radar Systems Market are Northrop Grumman Corporation, Indra Sistemas, Raytheon Company, Thales Group, BAE Systems PLC, Airbus Defence and Space, Honeywell International Inc., SAAB Group, ASELSAN AS, Rheinmetall AG, ELTA Systems Ltd., etc.
Segmentation of the Global 3D Radar Systems Market
· Short Range
· Medium Range
· Long Range
· C/S/X Band
· E/F Band
· L Band
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The opportunities for 3D Radar Systems market are increasing R&D activities in the field of military simulation and increasing defence expenditure in emerging economies as the total world military expenditure rose around more than US$ 1739 billion in 2017 primarily due to increased spending of many countries such as China, India, Saudi Arabia, etc. Furthermore, companies such as Vayyar Imaging have developed new evaluation kits facilitating development, integration, and scaling of 3D Radar Systems image sensing for its improved application.
North America estimated to dominate the market for 3D Radar Systems. The U.S. promises a high growth market for 3D Radar Systems owing to the high production of warfare technologies and monitoring of weather condition as this region is very prone to natural calamities such as cyclones, floods, hurricane, etc. In Europe, there is a significant market growth mainly due to the rising government activities to deploy technologically advanced surveillance systems and some European governments encouraging implementation of innovative radar systems in cars assisting drivers in better localization of nearby objects, thus contributing in the European Union’s goal to control road deaths.
The market in the Asia Pacific is expected to witness the fastest growth during the forecast period 2018-2025. Emerging economies such as China, India, Malaysia, etc. are expected to show a substantial increase in market of the global 3D Radar Systems owing to the growing aerospace industry, monitoring of global threats and emergence of nuclear weapons possessing states in this region had necessitated the adoption or deployment of more 3D radar systems at a rapid pace. Moreover, the use of 3D Radars Systems to catch traffic offenders automatically in India would contribute to the growth of 3D Radar Systems market in the region.
Key Industry Developments
· November 2017: Thales completed the acquisition of Aveillant. With this acquisition, the company would be able to offer a new capability that complements its new radar surveillance offering, to customers.
· January 2018: Raytheon Company secured a foreign military sales (FMS) contract from the US Air Force, for conducting the surveillance radar program operations. The deal was valued at USD 333.4 million.