Press release
X-band radar market is expected to project a significant compound annual growth rate of 3.49% between 2015 and 2020
X band radar technology is basically used for air traffic control at airport, wide range surveillance, and lots of defense applications. There are two types of X band radar systems used for different purposes. First is mobile X band radar (9.375 GHz, 3cm), the radar has a variety of applications like information related to tropical cyclones, cloud microphysics, hydrology and urban rainfall. Mobile X band radar is generally deployed at coastal areas. Second is sea based X band radar; radar is mounted on a floating tower attached in the sea. The radar is designed to operate in high winds and high tides and basically used for military and defense purposes. A continuous watch required by the border security forces, increased terror activities in Europe, Africa & Middle East have forced the defense, government and commercial segment to adopt and install X band radar. Due to the growing need of advance security and surveillance system, governments across the world now need complete security and surveillance in order to safeguard people in their country from upcoming threats. The vendors of aerospace and defense equipment are also aiming at developing advance security and surveillance systems technology that can detect threat from long distance.Market size and forecast
X-band radar market is expected to project a significant compound annual growth rate of 3.49% between 2015 and 2020. The market is estimated to be valued at $4.32 billion by the end of 2015 and is expected to uplift further in near future. The development and launch of several new satellites through different programs are expected to have a positive impact on market growth during the forecast period. Further, Americas is projected to account for the largest market share during the forecast period by expanding at CAGR of >4% by 2021. X-band radar market is further expected to receive positive movement with the increased global seaborne trade; expected to reach 24 billion tons.
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Growth drivers and challenges
A continuous up-surged trading through waterways to allow the implementation of X-band radars in ships and harbors in near future. Further, launch of new military communication satellite, growing demand of defense securities and shortage of vendors are the main growth drivers of global X band radar market. However, factors like strict government regulations, congestion faced in X-band frequency due to spiked usage in commercial sector and restraints from government agencies to allocate this frequency range for commercial purposes to dampen the market growth in near future.
This report also provides the existing competitive scenario of some of the key players of the global X band radar market which includes company profiling of Israel Aerospace Industries (IAI), Northrop Grumman., Raytheon, Reutech Radar Systems, Saab Group, Japan Radio Company Limited, Furuno Electric Co Ltd, Prosensing Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global X band radar market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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