SYNTHETIC APERTURE RADAR (SAR) MARKET
Increasing traction of UAVs and UCAVs is expected to present considerable market traction through the forecast period
Incorporation of advanced control system software tools to seamlessly support planning, implementing, seamless communication, data processing and dissemination has led to increased applications. Moreover, substantial potential of utilization for these systems in commercial applications that include agriculture, energy, financial commodities and shipping industries would present significant opportunities for industry growth.
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Synthetic Aperture Radar (SAR) Market Taxonomy:
On the basis of product type, the global synthetic aperture radar (SAR) market is classified into:
Space based SAR
Air based SAR
On the basis of application, the global synthetic aperture radar (SAR) market is classified into:
Aerospace & Defense
Financial commodity markets
Shipping and transportation
Defense based applications are expected to garner highest revenue margins over the forecast period
These find significant applications in aircrafts and satellites that prove instrumental in tracking missiles, rendering the images of the terrain and targets below the airborne vehicles. For instance, in July 2017, upgraded aircraft by the U.S. Air Force, the F-22 featured a SAR systems. According to Coherent Market Insights, global defense spending projected to increase at a CAGR of 3% over the forecast period is expected to present significant growth potential over the same period.
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Space-based SAR is expected to continue to dominate the industry revenue through 2025
Space-based SAR segment employs operating frequencies or microwave illuminators that makes the sensor imaging unaffected by even in hostile weather conditions. Moreover, significant applications for research is expected to consistently fuel the overall industry demands.
U.S. dominated the synthetic aperture radar market share in 2016, is expected to continue its dominance over the forecast period
Collaboration of the US Department of Defense (DoD) and National Aeronautics and Space Administration (NASA) has led to significant increase in R&D activities for space-based SAR satellites. Moreover, the country contributes to over 40% of the global defense spending. These factors are expected to fuel the regional demands for the business growth. Growing defense budgets and research operations in the Asia Pacific that specifically include China, South Korea, India, and Japan are expected to provide significant growth opportunities.
Industry is characterized by the fragmented market presence of large players dominating the regional industry share. Requirement to strengthen their industry foothold, players are increasingly investing in product differentiation strategies and establishing partnerships with the large end users to garner increased usability in low cost operations. For instance, in June 2017, Pentagon announced its plans to capitalize on commercial opportunities through establishing ties with the firms in the U.S. Key participants in the synthetic aperture radar market include Airbus Defence and Space, Lockheed Martin, Israel Aerospace Industries (IAI), Thales, Northrop Grumman, SSTL, MDA Information Systems, Raytheon and Sandia National Laboratories.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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