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Radome Market Trends, Top Companies, Share, Growth And Forecast 2032
Radome Market
The Business Research Company's Radome Global Market Report 2023 identifiesincrease in demand for new aircraft owing to the growing number of air passengers as the major driver for the radome market's growth in the forecast period. An aircraft is any machine or vehicle designed to travel through the air by the buoyancy of air on its surfaces. The increasing production of new aircraft to meet the demand requires the installation of a radome to protect radar from environmental factors such as strong wind, snow, rain, and UV light and prolong the lifespan, thereby promoting the production of the radome.
The global radome market size grew from $1.66 billion in 2022 to $1.87 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The radome market size is expected to grow to $2.77 billion in 2027 at a CAGR of 10.3%.
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Major competitors in the radome market are Northrop Grumman, General Dynamics Mission Systems Inc., Saint-Gobain Performance Plastics, Raytheon Technologies, Meggitt PLC, Airbus SE, FACC AG, CPI International Inc., Jenoptik AG, The NORDAM Group LLC, Royal DSM, TenCate Advanced Composites
A key trend in the radome market includes strategic collaborations and partnerships. Major players operating in the market are partnering and collaborating to develop a strong product portfolio and offer innovative products. For instance, in July 2021, RENK Group, a German industrial company, acquired L3Harris for a deal of $400 million. This acquisition enables the RENK group to reinforce its mission of supporting the U.S. Army and its allies. L3Harris is a US-based company that manufactures naval shipboard radomes, airborne radomes, and submarine radomes. Also, in November 2020, Meggitt PLC, a UK-based aerospace company, partnered with BAE Systems for a deal of $5.71 million. This partnership enables advanced radar technology in the Royal Air Force's Typhoon fighter jet. BAE Systems is a US-based company specializing in the design and manufacture of composite radomes.
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https://www.thebusinessresearchcompany.com/report/radome-global-market-report
The radome market is segmented -
• By Type: Shell Structure, Spherical Structure
• By Offering Type: Radome Body, Accessories, Services
• By Application: Airborne Radome, Ground-Based Radome, Shipboard Radome
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the radome market.
The Business Research Company's "Global Radome Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Radome Market Include:
1. Executive Summary
2. Radome Market Characteristics
3. Radome Market Trends And Strategies
4. Radome Market - Macro Economic Scenario
5. Radome Market Size And Growth
……
26. Africa Radome Market
27. Radome Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Radome Market
29. Radome Market Future Outlook and Potential Analysis
30. Appendix
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