Synthetic Aperture Radar (SAR) Market: Lockheed Martin, Israel Aerospace Industries (IAI), Thales, Northrop Grumman, SSTL, MDA Information Systems, Raytheon and Sandia National Laboratories

Coherent Market Insights has announced the addition of the “Global Synthetic Aperture Radar (SAR) Market report 2017-2026”. The report classifies the Global Synthetic Aperture Radar (SAR) Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
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Key participants in the synthetic aperture radar market include Airbus Defence and Space, Lockheed Martin, Israel Aerospace Industries (IAI), Thales, Northrop Grumman, SSTL, MDA Information Systems, Raytheon and Sandia National Laboratories.

Market Dynamics
Increasing application of UAVs and their requirements for security and countermeasure operations has led to significant advancements in the electronic component integration that includes command, control, communications computers, intelligence, reconnaissance and surveillance systems (C4IRS) to support military and defense operations. This in turn leads to increased utilization of these UAVs in surveillance and attack missions by the defense agencies and garner high traction to the synthetic aperture radar (SAR) market.

On the basis of product type, the global synthetic aperture radar (SAR) market is classified into:
• Space based SAR
• Air based SAR

On the basis of application, the global synthetic aperture radar (SAR) market is classified into:
• Aerospace & Defense
• Scientific Research
• Agriculture
• Energy
• Financial commodity markets
• Shipping and transportation

Defense based applications are expected to garner highest revenue margins over the forecast period

These find significant applications in aircrafts and satellites that prove instrumental in tracking missiles, rendering the images of the terrain and targets below the airborne vehicles. For instance, in July 2017, upgraded aircraft by the U.S. Air Force, the F-22 featured a SAR systems. According to Coherent Market Insights, global defense spending projected to increase at a CAGR of 3% over the forecast period is expected to present significant growth potential over the same period.

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U.S. dominated the synthetic aperture radar market share in 2016, is expected to continue its dominance over the forecast period
Collaboration of the US Department of Defense (DoD) and National Aeronautics and Space Administration (NASA) has led to significant increase in R&D activities for space-based SAR satellites. Moreover, the country contributes to over 40% of the global defense spending. These factors are expected to fuel the regional demands for the business growth. Growing defense budgets and research operations in the Asia Pacific that specifically include China, South Korea, India, and Japan are expected to provide significant growth opportunities.

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This release was published on openPR.