The 3D Radar Market Is Driven By The Increasing Adoption Of Advanced Warfare Technologies

According to a new market research report published by Credence Research “Global 3D Radar Market (Frequency Band (C/S/X Band, E/F Band, L Band, Others); Range (Short Range, Medium Range, Long Range); Application (Airborne, Naval, Ground Surface)) Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the 3D radar market is set to grow with a CAGR of 18.2% during the forecast period, starting from US$ 775.6 Mn in 2018.

Market Insights

The market is driven by the increasing adoption of the advance warfare technologies and systems by the military forces. Over the past few years, it has been witnessed that the defense organizations are swiftly shifting towards advance technologies to enhance their defensive capabilities.  The adoption of the UAVs and ballistic missiles are the major factor augmenting the demand for 3D radar systems across the globe.

The rapid technology advancement in the radar systems is also serving as a major driver for the growth of the market. The radar systems have evolved significantly over the past decade from the traditional radar technology to 3D radar systems. This is resulting in the development of multiple new avenues for the growth of the market. However, the lack of expertise is a major challenge among the market players.

The market is categorized based on the platform into airborne, ground based, and naval. The airborne segment accounted for majority share of over 50% of the revenue generated in 2018. The growth of the market is driven by the widespread adoption of 3D radar among the military and civil aircrafts. Furthermore, the growing adoption of UAVs is also driving the demand for airborne 3D radar systems. On the other hand, ground based platforms are estimated to grow significantly during the forecast period.

Asia Pacific’s 3D radar market is estimated to grow substantially at a CAGR of over 23% during the forecast period. The growth of the market is driven by the increasing spending of the government on the military and defense. Furthermore, the increasing political tension and terrorist activities in the region is also acting as a major driver for the growth of the market. Additionally, the growing importance of air traffic management is also aiding in the market growth.

The prominent vendors of the 3D radar market are ASELSAN A.S., Airbus Defense and Space, ELTA Systems Ltd, BAE Systems PLC, Honeywell International Inc, Harris Corporation, Leonardo S.P.A, SAAB Group, Raytheon Company, Northrop Grumman Corporation, Rheinmetall AG, and Thales Group.

 

OUR Website: Credence Research – Market Research Consulting Firm San Jose (CA) USA

Our Blog:  Home – Target Market Size

Back to top button