Exclusive Report on Global Radar Industry: Growth Opportunity | Northrop Grumman Corporation, Lockheed Martin Corporation, and SAAB AB

The global Radar market size is expected to reach $46.480 Billion by 2028 growing at the CAGR of 4.47% from 2021 to 2028.

Radar devices are primarily used in defense systems and military equipment across all nations. One of the major drivers for this industry segment is terrorism threat. As a result, the need for greater surveillances systems has become a notable factor in driving radar technology usage, especially from border regions on an international scale including Afghanistan to South Korea. In addition, technological proliferation is leading to the development of lightweight radars, which also augurs well for market growth over the forecast period.

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Key Players

Some of the major Radar players holding high market share include Northrop Grumman Corporation, Lockheed Martin Corporation, and SAAB AB. These players use acquisition and expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Northrop Grumman Corporation
● Lockheed Martin Corporation
● SAAB AB
● Rockwell Collins Inc.
● Thales Group
● Honeywell International Inc.
● L-3 Communications Holdings
● General Dynamics Corporation
● BAE Systems
● Dassault Aviation

The recently published research report on Global Radar Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Radar market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Radar market report also includes the following data points:
● COVID19 Impact on Radar market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Radar market

Segmental Analysis

Market Segment By Product Type with focus on market share, consumption trend, and growth rate of Radar Market:
o Continuous Wave Radar
o Pulse Radar
o Others

Market Segment By Application with the focus on market share, consumption trend, and growth rate of Radar Market:
o Air Traffic Control
o Remote Sensing
o Ground Traffic Control
o Space Navigation & Control

For more information: https://evolvebi.com/product/radar-market-analysis-and-forecast-2021-2028-with-covid-impact-analysis/

Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

Radar systems are expected to record a healthy growth in the Asia Pacific region. Some of its key factors include funding and investments by several SMEs for monitoring sea trade, manufacturing bases which will continuously develop radar technologies for land and sea, increase in the demand for military radars, and broad-based R&D activities in defense sectors like China's (which has developed military radar that can detect all types of bombers and fighter jets).

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This release was published on openPR.