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A High Single-Digit CAGR Projected for X-Band Radar Market During 2016 - 2026

02-06-2018 07:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

A High Single-Digit CAGR Projected for X-Band Radar Market

X-band radars are vastly used in surveillance and navigation systems of borders, aircrafts, sea or coast. These radars also regulate air-traffic control system at airport and also control long-ranged defense surveillance and alarming systems. In a published report by Future Market Insights (FMI), the global x-band radars market is expected to witness a robust growth throughout the forecast period, (2016–2026). In addition to, the report is estimated that the market will expand at a CAGR of 3.8% over the assessment period. Furthermore, the mobile x-band radar type segment is likely to witness an expansion of 4.1% CAGR and sea-based x-band radar type segment is foreseen to expand at a CAGR of 3.8% in the forthcoming period.

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Key Segments with Dynamics of Global Market for X-Band Radar

The report has provided a thorough forecast on the segments of the global market for x-band Radar. There are three major segments, such as different types of x-band radars, various system components and regions, in the market with their further segments.

On the basis of different types of x-band radar, there are two sub-segments, such as sea-based x-band radar and mobile x-band radar. Mostly in aircrafts and coastal areas, the mobile x-band radars are installed. And, the sea x-band radars are fixed on a floating tower that is attached in the sea. Dual-polarization and doppler are the two main features of mobile x-band radar. With a mobile x-band radar, rain, polarization parameters and radial winds can be measured in coastal areas and aircraft. Besides, this radar is moveable to both coastal and border areas. On the contrary, the sea-based x-band radar is static to a particular place in semi-submersible position in the sea. Owing to the static feature of sea-based x-band radar, the market will face a challenge in the years to come.

The system component segment has further segmented into command & control system and communication system. Furthermore, it is expected that the command & control system segment is estimated to expand at a CAGR of 4.0% along with the largest market share during the forecast period. As per the strict instruction from government, 24/7 security and surveillance has become a compulsion due to identification of both internal and external crimes. As a result, this is fueling up the expansion of security and surveillance segment in the global market for x-band radar in the forthcoming years. Regardless, all the x-band radars don’t have the equal detection capacity and henceforth, the variation of target limits of x-band radars in detection is restraining the rapid development of global market for x-band radar.

On the basis of geography, there are six major regions, include Latin America, Western Europe, North America, Eastern Europe, Middle East & Africa (MEA) and Asia-Pacific excluding Japan, have strong implementation of x-band radars. Henceforth, the x-band radars market in these regions are growing rapidly. U.S and Canada are the two growing cities in North America that are expanding robustly in the approaching years. In addition, most of the radar manufacturers are from U.S., who provide the security & surveillance need to its government. Some of the countries, such as France, Spain, Germany, Italy, Nordic, U.K. and Benelux in Western Europe, are expected to grow rapidly in the near future. Maximum share of revenue to the global x-band radar market are coming from both Western Europe and North America regions. Besides, Brazil and Mexico are the two major countries in Latin America that are likely to witness a progressive demand for x-band radars in the upcoming years. In addition, India, ASEAN, ANZ & China in APEJ, Africa & GCC in MEA, Poland & Russia in Eastern Europe and Japan are the other developing regions, where the demand for x-band radars are increasing robustly.

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Key Participants

The global market for x-band radar has included some key participants that are expected to dominate throughout the forecast period. The key stakeholders are ProSensing Inc., Reutech Radar Systems (RRS), Furuno Electric Co. Ltd., Japan Radio Company Limited, Raytheon Company, Terma A/S, Detect Inc., Saab Group, Northrop Grumman Corporation and Israel Aerospace Industries Ltd., among others.

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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