Antenna, Transducer & Radome (ATR) Market to Exhibit CAGR of 10.2% by 2027; High Demand for Traffic Management Activities to Bolster Growth

The global antenna, transducer and radome (ATR) market size is expected to rise at USD 16.73 billion by 2027, while exhibiting a CAGR of 10.2% between 2020 and 2027. Fortune Business Insights, in its latest report, titled “Antenna, Transducer and Radome (ATR) Market Size, Share and Covid-19 Impact Analysis, by Component (Antenna, Transducer, and Radome), By Technology (Radar, Communication and Sonar), By Application (Commercial, Defense, and Homeland Security), and Regional Forecast, 2020 – 2027.” mentions that the market was worth USD 11.13 Billion in 2019. Furthermore, increasing impetus on air traffic management activities will drive the market growth during the forecast period.

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Raytheon Secures Colossal Defense Logistics Agency’s Contract

Fortune Business Insights with its qualitative and quantitative market research methodologies states that several companies are trying to gain maximum chunk of the overtly competitive global marketplace. Raytheon is one such company that is putting continuous efforts to maintain market stronghold and consolidate its position. In April 2020, Raytheon Co. announced that the US Defense Logistics Agency for a single-period purchase of radomes has awarded it over $13.7 million to protect its Army radars. Furthermore, Raytheon informed that it is a two-year contract with no option period.

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https://www.fortunebusinessinsights.com/antenna-transducer-and-radome-atr-market-102955

Adoption of Efficient Air Traffic Management Activities to Surge Demand

Air Traffic management activities involves every type of systems that assist in  aircraft departing from an aerodrome, while keeping tabs on airspace transit and further overlooking the landing at its destination. Increasing adoption of efficient and reliable air traffic management activities is expected to drive the market growth in the forthcoming years. For instance, the air traffic control radar beacon system (ATCRBS) is a type of system adopted in air traffic control (ATC) to enhance the surveillance and radar monitoring of air traffic. In addition to this, the system consists of a rotational ground antenna that transmit beams of microwaves across the airspace. Furthermore, when the beam strikes an aircraft, the transponder in the aircraft transmits a return signal providing vital data such as altitude and a squawk code, which is a four-digit code specially assigned to aircrafts entering particular regions. Increasing air traffic across the globe is likely to propel the market growth during the projected horizon.

Contract Signing Strategies by the Companies to Favor Growth

According to the market report, there are several players operating in the market with a sole focus on consolidating their position. The players are actively trying to adopt strategies such as contract signings, product launches, and merger and acquisition to strengthen their position. Furthermore, increasing investment in research and development activities to introduce innovative products by the large companies will contribute to the growth of the market between 2020 and 2027.

Industry Developments:

• April 2019: Cobham plc, the U.K.-based antenna manufacturing company, announced its launch of novel triple-band helix antenna at the AUVSI XPONENTIAL, Chicago in 2019. The company informed that the antennas were specially designed to counter drones and can operate on different frequency bandwidth such as 1.6 GHz (GPS), 2.4 GHz, and 5.8 GHz.

List of the Companies Operating in the Market:

• BAE Systems (The U.K.)
• Cobham plc. (The U.K.)
• General Dynamics Corporation (The U.S.)
• Honeywell International Inc. (The U.S.)
• L-3Harris Technologies Inc. (The U.S.)
• Leonardo S.p.A (Italy)
• Lockheed Martin Corporation (The U.S.)
• Northrop Grumman Corporation (The U.S.)
• Raytheon Company (The U.S.)
• Thales Group (France)

Further Report Findings:

• The market in North America is expected to hold the highest global antenna, transducer and radome market revenue during the forecast period. Furthermore, it registered a revenue of USD 4.68 Billion in 2019. High spending for modernization of Defense mechanisms and presence of large manufacturers in the region are likely to be the driving factors for the market growth.
• Asia-Pacific, on the other hand, will witness significant demand owing to increasing adoption of advanced surveillance technology and growing focus on military modernization programs. 
• The segment communication (By Technology Analysis) is anticipated to witness steady growth backed by increasing demand for effective and efficient communication systems even in harsh environments.
• The segment homeland security (By Application Industry Analysis) is expected to register promising growth backed by increasing focus on consolidating security services to keep in check rising criminal activities.

Table of Segmentation: