Airport Surveillance Radar Market is projected to expand at a CAGR of 7.05% during the forecast period

Knowledge Sourcing Intelligence announces the publication of a new report on “Airport Surveillance Radar Market - Forecasts from 2019 to 2024" to their offering. An airport surveillance radar system is used at airports to display and detect the position of the aircraft in the aerospace around the airport. This system is used to monitor the air traffic inside the radius of 50 nautical miles of the terminal.
This report provides forecast and analysis of the airport surveillance radar market which is estimated to grow at a CAGR of 7.05% over the period of 2018-2024.

The airport surveillance radar market is poised to grow during the coming years on account of significant growth in the air traffic due to a surge in the tourism sector at the global level. In addition, the growing number of fatalities in the aviation industry owing to poor surveillance has led the governments across the globe to invest heavily in the equipment of the latest surveillance technology. Furthermore, the increasing military expenditure in the major regions for the advancement of technology and a strong defense due to growing security threats in many countries are also anticipated to amplify the growth of the market for the coming years.

The rising disposable income, on the other hand, is further leading to burgeoning growth in the tourism sector which is further leading to the increasing investments in the expansion and constructions of airports of various developed economies around the world, thus also expected to positively impact the growth of the market. Moreover, the increasing investments by major developing countries for uplifting their air transport infrastructure is also one of the factors which are anticipated to drive the demand for these radar systems and add up to the growth of the market. As per the data from OECD the air transport infrastructure spending in China increased from 9,953,464,625 Euros in 2010 to 31,433,791,175 Euros by 2017.

Geographically, the market has been segmented into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The Asia Pacific region is projected to hold a noteworthy market share on account of the rapid rise in the investments, both public and private, in the construction of new airports in countries like China and India. North America and Europe are projected to grow substantially over the forecast period on account of early adoption of technology and growing requirements for the up-gradation of age-old transport infrastructure.

Some of the major players covered as part of the report are Harris Corporation, Thales Group, Lockheed Martin Corporation, Raytheon Company, and BAE Systems among others.

This report segmented the airport surveillance radar market on the basis following terms:
• By Type
• Primary Radar
• Secondary Radar

• By Component
• Radar Unit
• Other Telecommunication Components

• By Geography
• North America
• USA
• Mexico

• South America
• Europe
• Middle East and Africa

• Asia Pacific
• China
• India
• Others

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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on the niche and latest technologies. We engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.

This release was published on openPR.