Market Research Report
Global 3D Radar Market - By Platform, Range Type, Band, and Region - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||707295|
|Published||Content info||115 Pages
Delivery time: 2-3 business days
|Global 3D Radar Market - By Platform, Range Type, Band, and Region - Growth, Trends, and Forecast (2018 - 2023)|
|Published: August 1, 2018||Content info: 115 Pages||
The 3D radar market was valued at USD 657.59 million in 2017 and is expected to reach USD 1,836.34 million by 2023, recording a CAGR of 18.67%, during the forecast period of 2018-2023. The report profiles segmentation, by platform type (airborne, ground, naval) of the 3D radar market.
The military and defense sector has been accounting for a prominent share of the budgets of all developed countries, for some years. However, during the past couple of decades, several emerging economies, such as India, have increased their defense expenditure, to ensure the safety and security of their nations (USD 51.1 billion in 2016 to USD 52.5 billion in 2017, in India). This factor has boosted the demand for advanced military and defense technologies, among which, the 3D radar market is flourishing.
An increase in the number of unmanned aerial vehicles (UAVs) is one of the important drivers that has accelerated the demand for the 3D radar market. Additionally, UAVs are operated by radio signals. Nowadays, UAVs are used to detect moving objects, such as choppers, tanks, and aircrafts, using a 3D radar.
This has resulted in an increased demand for the procurement of UAVs for military operations, which, in turn, propels the need for 3D radar, in the market. Rapid and continuous technological developments have led to the replacement of the old, conventional radar systems with 3D radar systems, thus augmenting the growth of the 3D radar market. Manufacturers have been striving to develop specialized 3D radars for airborne applications, to enable easy data collection in fast-changing terrains, such as active volcanoes and snow slopes. This factor is another significant driver for the 3D radar market. For instance, airborne 3D radar is deployed in both civil and military aircrafts that are utilized to detect another aircraft, without requiring visual contact, during the condition of zero visibility.
The North American segment of the 3D radar market is expected to record healthy growth, owing to the increasing demand for various types of radar that are utilized in surveillance activities. Additionally, the defense force of the United States has adopted advance 3D radars, which, in turn, boosted the growth of the regional market. The US government is developing new fighter jets, in collaboration with a few other countries. However, its market share is estimated to reduce significantly, with the booming demand for aircraft, in Asia-Pacific. The US Department of Defense has been investing large sums of money, to improve and upgrade its fleet of military aircraft with modern aircraft avionic systems and new components.
For instance, the US Navy agreed upon USD 12.3 million worth contracts with BAE Systems' Electronic Systems business, in Greenlawn, New York, to build 265 conformal-controlled reception pattern antenna (C-CRPA) units, for the several versions of the Navy39, F/A-18 carrier-based combat jet.
Nov 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.
Jan 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.
Major Players: Northrop Grumman Corporation, Raytheon Company, Thales Group, BAE Systems PLC, Airbus Defense and Space, Honeywell International Inc., SAAB Group, Harris Corporation, Leonardo SpA, Aselsan AS, Rheinmetall AG, and Elta Systems Ltd, among others.
Provides the latest insights into global 3D radar market
Analyzing various perspectives of the market, with the help of Porter's five forces analysis
To understand the dominating technology in the market studied
The region that is expected to witness the fastest growth, during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 month analyst support along with the Market Estimate sheet (in Excel)
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