Electronically Scanned Array Market Size,Share,Analysis,Growth,Business Strategies By Leading Industry Players Lockheed Martin , Leonardo-Finmeccanica, Northrop Grumman, Raytheon, Israel Aerospace Industries by 2023
Electronically Scanned Array Market Synopsis:
Electronically scanned array market is used to produce radio wave beams and direct it to desired points without moving antennas. It has gained traction with the developments in technology; thus the product is likely to witness substantial demand generation over the next couple of years. The report offered by Market Research Future (MRFR) highlights that the Global Electronically Scanned Array Market Is Expected To Increase To A Valuation Of USD 8,275 Mn By 2023, Reflecting A CAGR Of 5.80% Across The Assessment Period 2018 To 2023.
Increasing research & development is anticipated to have a positive impact on the proliferation of the electronically scanned array market in the nearby future. In addition, the rising investments in technologically advanced military systems are likely to fuel demand for the product in the years to come.
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Electronically Scanned Array Market Competitive Dashboard:
Saab AB (Sweden), Thales Group (France), RADA Electronic Industries (Israel), Toshiba (Japan), and Defence Research and Development Organization (India) are few of the prominent manufacturers of the global electronically scanned array market.
Key players, in the forthcoming years, are anticipated to invest in organic approaches such as research & development, product innovations, technological developments, etc. to gain an edge over other competitors. Also, the rising investments in the expansion of global footprint are anticipated to encourage healthy competition in the market place over the next couple of years. The inorganic approaches poised to be leveraged by these players in the nearby future are acquisitions, collaborations with end-users, strategic partnerships, agreements, etc.
Electronically Scanned Array Market Segmentation:
The electronically scanned array market, on the basis of type, has been divided into active electronically scanned array systems and passive electronically scanned array systems.
Short-range, long-range, and medium-range are the segments of the electronically scanned array market profiled on the basis of range.
The segmentation of the global electronically scanned array market on the basis of end-users covers - airborne, land, and naval.
Electronically Scanned Array Market Regional Analysis:
This MRFR analysis of the global electronically scanned array market covers a detailed assessment on the basis of regional that is further narrowed down to a country-level basis. The five regional segments profiled in this study are - Asia Pacific (APAC), North America, Europe, the Middle East and Africa (MEA), and Latin America. Among these, North America is prognosticated to play a significant role in the development of the global market owing to its massive investments in research & development. In addition, the region is witnessing a shift from traditional human powered army to automated and technologically powered army. It is projected to revolutionize the future trajectory of the electronically scanned array market in the region in the upcoming years.
The U.S. is a major country-level market in the region, which is likely to exhibit a moderate growth rate over the forecast period. Also, the consolidation of global leaders such as Northrop Grumman, Lockheed Martin, and Raytheon in the region is expected to contribute to the expansion of the electronically scanned array market in the foreseeable future.
Asia Pacific region has been observing a rise in cross border conflicts, which has led to an increased demand for technologically advanced military systems. It is anticipated to propel proliferation of the electronically scanned array market in the nearby future. The dispute in the South China sea affects countries such as China, Japan, South Korea, etc. It has unleashed developmental potential for the players of the electronically scanned array market. Also, rising tensions in countries such as China, India, Pakistan, Afghanistan, etc. are anticipated to catapult the regional market on growth trajectory.
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