Radar Market size is Anticipated to Grow $44.35 Billion by 2028 | Growing at a CAGR of 4.7%

Allied Market Research published a report on the Radar Market by Offering, Product Type, Platform, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028.

The global radar market size was valued at $32.56 billion in 2019, and is projected to reach $44.35 billion by 2028, registering a CAGR of 4.7% from 2021 to 2028.

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Radar is an electronic system, which measures the range and behavior of objects by transmitting an electromagnetic pulse at the object. High-power radar using large dish antennas has been used to measure distances to the moon and other planets, asteroids, and artificial satellites. In addition, radar systems are widely used in air traffic control, aircraft navigation, and marine navigation.

Radar systems have witnessed increasing popularity in the military & defense sector, as radar antennas are mounted at the airports or other ground stations to detect approaching enemy airplanes or missiles. For instance, the U.S. Department of State has approved the sales of integrated air defense weapon systems of $1.87 billion to India, which includes radar, launchers, targeting, and guidance systems, advanced medium-range air to air missiles, and more, as per a statement from the state department.

Report Overview:
https://www.alliedmarketresearch.com/radar-market

Region wise, the radar market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed maximum revenue in 2019. However, between 2019 and 2028, the radar market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to increase in investment from the developed countries such as China and India.

Competitive Analysis:
The radar industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the global radar market include,
⦁ Dassault Aviation
⦁ Thales Group
⦁ Lockheed Martin Corporation
⦁ General Dynamics Corporation
⦁ Honeywell International Inc.
⦁ L3 Technologies, Inc. (L3Harris Technologies, Inc.)
⦁ BAE Systems
⦁ Northrop Grumman Corporation
⦁ Rockwell Collins, Inc.
⦁ Saab AB

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Top Impacting Factors:
The prominent factors that impact the radar market growth are increase in demand for radar systems in automotive & defense industry, advancement in radar technology, and increase in territorial battles. However, adverse climatic conditions restrict the market growth. On the contrary, deployment of lightweight radars in aerial vehicles is expected to create lucrative opportunities for the market. Each of these factors is likely to have a definite impact on the growth of the global radar market during the forecast period.

Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global radar market size along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall radar market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
⦁ The current radar market forecast is quantitatively analyzed from 2019 to 2028 to benchmark the financial competency.
⦁ Porter's five forces analysis illustrates the potency of the buyers and the radar market share of key vendors.
⦁ The report includes the market trends and the market share of key vendors.

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