Radar Systems Market 2021 Analysis by Global Manufacturers - Lockheed Martin, Raytheon, Thales, Rockwell Collins, Saab, Honeywell, General Dynamics

The Radar Systems Market Research Report is an in-depth study that provides industry-leading insight into existing and emerging growth patterns, end-user analysis, and other key data that have been tested and validated by experts and industry professionals. The report studies the market for importance, share, Status, demand and supply, models, competitive landscape, industry chain analysis, and other significant factors. The report also provides a detailed overview of the driving forces of the industry, along with the micro and macro-economic factors that are likely to affect its development.

The Radar Systems Market was valued at USD 29.12 billion in 2020 and expected to reach USD 35.9 billion by 2026 and grow at a CAGR of 3.57% over the forecast period (2021 - 2026). 

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The Top Key Players in the Global Radar Systems Market are like Indra, Lockheed Martin, Raytheon, Thales, Rockwell Collins, Saab, Honeywell, General Dynamics, BAE Systems, Northrop Grumman, Leonardo and Others.

Industry News:

- Jun 2019 - BAE Systems, Inc. announced the acquisition of Riptide Autonomous Solutions (Riptide). It is a provider of an innovative, affordable unmanned underwater vehicle (UUV) technology and solutions. 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., 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.

Key Market Trends:

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 for 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.

- The technological advancements in the Unmanned Vehicles for defense applications have increased its applications in the segments resulting in demanding more radar for the product.

- 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 stuttles to the other planets. NASA has released its next ten-year plan for projects which includes the next project to visit Mars. Such projects will drive the market for heavy duty and integrated radar systems in the region.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Radar Systems Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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