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Radio detection and ranging (RADAR) is a technologically advanced electronic equipment used to track an object by using radio waves. It is also used to detect the missiles, weather, spacecraft, aircraft, and other forms of vehicles. Radar was initially developed for defense operations, but with upcoming technologies and invention, radar is used in astronomy, anti-missiles systems, marine, aircraft anti- air-defense system, collision system, air traffic control, and meteorological monitoring.
The factors expected to drive the market are advancement in border surveillance systems. Moreover, increasing the need for a missile detection system is anticipated to boost the market. Increased investments in advanced surveillance technologies are upcoming opportunities for the market. However, extreme weather conditions hampering the accuracy of surveillance radars.
Key Market Driver -
• High Demand for RADAR Technology in Military Applications • Increase in the demand for Weather Radar
Key Market Restraint -
• Natural Calamities and Huge Investment Cost will act as a Restraint to the Market.
By component, the market segmented into an antenna, transmitter, receiver, and others. Based on the service, the market segmented into the installation/integration, support & maintenance, and training & consulting. Based on the application, the market categorized into ground-based, airborne, naval, and space-based. Based on frequency, the market is segmented into L-band, S-band, C-band, X-band, Ku-band, Ka-band, and others. Based on the end-use, the market categorized into military applications, air traffic control, remote sensing, ground traffic control, and others. From a geographical standpoint, the market categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Major key players that are present in the radar market are ASELSAN A.Ş. (Turkey), Blighter Surveillance Systems Ltd. ( The U.K), Detect Inc. ( The U.S.), Elbit Systems Ltd.( Israel), Flir Systems, Inc.(The U.S.), Harris Corporation ( The U.S.), Israel Aerospace Industries Ltd.(Israel), Leonardo S.P.A (Italy), Lockheed Martin Corporation( The U.S.), Hensoldt ( Germany), Raytheon Company ( The U.S.), Saab AB ( Sweden), Terma A/S ( Denmark), Thales Group( France), Honeywell International Inc.( The U.S.)and among others.
The Radar market is analyzed across four major regions North America, Europe, Asia Pacific, and the Rest of the World. At present, North America is anticipated to steer the market during the forecast period. This growth is attributed to the presence of key players, which include Lockheed Martin Corporation, Raytheon Company, and Detect Inc.
The Asia Pacific is estimated to capture a significant market share during the forecast period. This market growth is owing to increasing demand for modern naval radars with advanced technologies from emerging nations such as India and China. Furthermore, the need for anti-ballistic missile systems in the defense service across Asia pacific help to grow the market. In Europe, demand for air surveillance radars from the ministry of defense Germany is propelling the market. The Rest of the World registers significant growth in the radar market during the forecast period. This growth is attributed to the increasing installation of advanced coastal radars in Latin America and the Middle East & Africa.
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