Radar Systems Market Competitive Research And Precise Outlook 2020 To 2026
Top Companies in the Global Radar Systems Market
Indra Sistemas, S.A. (OTCMKTS: ISMAY), Lockheed Martin Corporation (NYSE: LMT), Raytheon Technologies Corporation (NYSE: RTX), Thales, Rockwell Collins, Saab, Honeywell, General Dynamics, BAE Systems, Northrop Grumman, Leonardo, among others.
The global Radar Systems market is expected to reach approximately US$ 41.2 Billion by 2026 growing at a CAGR of 6.3% from 2021-2026.
Radars are used to detect and track spacecraft, ships, and aircraft, as well as insects and birds in the atmosphere. It also measures the speed of automobiles; map the surface of the earth from space, and measure properties of the atmosphere and oceans.
- Weather radars improve aviation safety and increase the operational efficiency of the entire air transport industry, and they contribute to agriculture alerts and flood warnings through monitoring of rainfall intensity. These alerts help in preparation for the environmental hazards in advance. Hence, the demand for improved and continuous weather monitoring systems is increasing and driving the market for radar systems.
- Advanced Weather Interactive Processing System (AWIPS) and the Integrated Terminal Weather System (ITWS) are the new systems for short term forecasting and nowcasting based that blend data from weather radar and other instruments to produce a complete picture of atmospheric conditions.
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Aerospace & Defense is the Major Segment with Increased Demand
Aerospace & defense needs to continuously keep track of aircraft to maintain the flight path and control air traffic. Any lapse or miss in tracking can turn into a catastrophic incident. There has also been an increase in unmanned aerial systems and drone systems that fly high in the air and need to be traced for strategic as well as safety purposes. Recently, the United States has made it mandatory for drone devices bigger than a specific size to be registered with the aviation wing for tracing them and avoid any airborne accidents. In defense, the radar needs are very versatile and need to fit the varying demands, such as vehicle-mounted, naval ship-mounted, fixed radar systems, or airborne radar systems. The radar systems also help the ship navigate and avoid areas having rocky seabed.
North America to Record a Significant Growth Rate
- The United States is the highest paying country in the world for defense and military with over USD 639 billion spent on the purpose in 2018. Being the strongest military base in the world, aviation and maritime applications have a major demand for the radar systems in the region.
- Pioneer of the electric cars Tesla Inc. has its production plant in California, USA. The production of Tesla's Model 3 has an application of the radar system facing forward. in quarter 4 of the year 2018, Tesla has produced 61,394 Model 3 vehicles and the figure is towards the growing trend and is expected to follow in the forecast period.
- Radar application has a significant penetration in the space technology segment for remote monitoring of the earth from space and also for the space shuttle to the other planets. NASA has released its next ten-year plan for projects which include the next project to visit Mars. Such projects will drive the market for heavy-duty and integrated radar systems in the region.
- Jun 2019 - BAE Systems plc (OTCMKTS: BAESY). announced the acquisition of Riptide Autonomous Solutions (Riptide). It is a provider of innovative, affordable unmanned underwater vehicle (UUV) technology and solutions. The addition of Riptide's technological capabilities will position BAE systems to provide customers unmatched flexibility by offering UUVs and integrated payload solutions capable of supporting a variety of critical missions.
- Apr 2019 - Leonardo S.p.a. (OTCMKTS: FINMY), an Italian defense contractor completed the full acquisition of Vitrociset, a manufacturer of protection, command and control systems, and other electronic products. this initiative allows Italian national consolidation of the aerospace, defense, and security value chain, increasing its competitiveness with significant market opportunities.
March 2018 - BAE Systems plc (OTCMKTS: BAESY) Australia welcomed the announcement by the Minister for Defense and the Minister for Defense Industry that the company has been selected to upgrade Australia's long-range high-frequency radar network. The Jindalee Operational Radar Network (JORN) protects Australia's coastal approaches through a network of three remote radars in Queensland, Western Australia, and the Northern Territory.
The Radar Systems market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Radar Systems Market based on Types are
Pulsed Radar, Continuous Wave (CW) Radar
Based on Application, the Global Radar Systems Market is Segmented into
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Regions Are covered By Radar Systems Market Report 2020 To 2026.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of Radar Systems Market
-Changing Radar Systems market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current and projected Radar Systems market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Radar Systems Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
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All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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