Press release
X-Band Radar Market Report 2024: Strategies And Recent Developments | Japan Radio Company Limited, Furuno Electric Co. Ltd., Terma A/S, Northrop Grumman Corporation
X-Band Radar Market Size
The Business Research Company offers in-depth market insights through X-Band Radar Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The x-band radar market size has grown steadily in recent years. It will grow from $5.86 billion in 2023 to $6.06 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to military modernization programs, threat perception and security concerns, increased naval and maritime applications, weather monitoring and forecasting, aviation safety, coastal surveillance..
The x-band radar market size is expected to see steady growth in the next few years. It will grow to $7.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to increasing demand for unmanned systems, space exploration and satellite communication, commercial aviation upgrades, environmental monitoring and disaster response, advancements in material science, focus on cybersecurity.. Major trends in the forecast period include advancements in technology, dual-use applications, phased array radar systems, gallium nitride (gan) technology, compact and mobile radar systems, integration of artificial intelligence (ai), digital radar systems, international collaborations..
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Market Segmentation:
The x-band radar market covered in this report is segmented -
1) By Type: Mobile X-Band Radar, Sea-Based X-Band Rada
2) By Array: Active Electronically Scanned Array (AESA), Passive Electronically Scanned Array (PESA)
3) By Platform: Airborne, Terrestrial, Naval
4) By Application: Defense, Government, Commercial
Major Driver - The Rising Demand For Security Systems Drives The X-Band Radar Market
The growing demand for security systems is driving the X-band radar market. Security systems refer to several techniques or equipment intended to protect people and property against a wide range of dangers. The border security system offers administration of border-patrol missions, real-time surveillance, early warning, and targeting, further enhancing land and maritime security, regional control, and border protection. The X-band radar is one of the security equipment used for detecting objects and helps in surveillance. For instance, according to the 2022 Global Terrorism Index (GTI), the number of terrorist attacks around the world increased to 5,226 in 2021. Thus, the growing demand for security systems will increase the demand for X-band radar.
Competitive Landscape:
Major companies operating in the x-band radar market report are Japan Radio Company Limited, Furuno Electric Co. Ltd., Terma A/S, Northrop Grumman Corporation, Saab AB Group, Israel Aerospace Industries Ltd., Thales Group, Leonardo S.p.A., Hensoldt AG, Reutech Radar Systems, Vaisala Oyj, Indra Sistemas S.A., Prosensing Inc., Raytheon Technologies Corporation, Kelvin Hughes Limited, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Selex ES Inc., Telephonics Corporation, Harris Corporation, BAE Systems plc, ASELSAN A.S., ELTA Systems Ltd., Bharat Electronics Limited, RADA Electronic Industries Ltd., SRC Inc., Cobham plc, Echodyne Corporation, Cambridge Pixel Ltd., Blighter Surveillance Systems Ltd., DeTect Inc., Exelis Inc., GEM elettronica srl
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Top Trend - Major Players In X-Band Radar Market Embrace Environmentally-Friendly Materials
Product innovation is a key trend gaining popularity in the X-band radar market. Major players in the X-band radar market are focusing on innovation by using environment-friendly materials to sustain their position in the market. For instance, in June 2021, Raytheon Technologies, a US-based aerospace, and defense company that manufactures X-band radars entered into a partnership with the U.S. Missile Defense Agency (MDA), the Department of Defense. The partnership aimed at moving to more environmentally friendly materials for the Sea-Based X-Band Radar (SBX) cooling system. The restoration of the outdated system dramatically reduces energy demands and greenhouse gas emissions while enhancing dependability.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. X-Band Radar Market Characteristics
3. X-Band Radar Market Trends And Strategies
4. X-Band Radar Market - Macro Economic Scenario
5. X-Band Radar Market Size And Growth
…..
27. X-Band Radar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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