TMCnet News

RADAR Market to Garner $44.35 Bn, Globally, by 2028 at 4.7% CAGR: Allied Market Research
[June 08, 2021]

RADAR Market to Garner $44.35 Bn, Globally, by 2028 at 4.7% CAGR: Allied Market Research


Rise in demand for radar systems in automotive and defense industries, surge in territorial battles, and advancements in radar technology drive the growth of the global radar market

PORTLAND, Ore., June 8, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Radar Market by Offering (Hardware, Software, and Services), Product Type (Continuous Wave Radar, Pulse Radar, and Others), Platform (Marine, Air, Ground, and Space), Application (Air Traffic Control, Remote Sensing, Ground Traffic Control, and Space Navigation & Control), and End User (Automotive, Aviation, Industrial, Weather Monitoring, Military & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028". As per the report, the global RADAR industry was accounted for $32.56 billion in 2019, and is estimated to reach $44.35 billion by 2028, growing at a CAGR of 4.7% from 2021 to 2028.

Allied-Market-Research-Logo

Drivers, restraints, and opportunities

Rise in demand for radar systems in automotive and defense industries, surge in territorial battles, and advancements in radar technology drive the growth of the global radar market. However, high cost of radar system hinders the market growth. On the contrary, high investment from the developed countries in the military sector is expected to create lucrative opportunities for the market players in the future.

Download Report Sample (372+ Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/1930

Covid-19 scenario:

  • The Covid-19 outbreak severely affected the production process of several industries. Moreover, the prolonged lockdown resulted in temporary or complete shutdown of a number of industries.
  • The pandemic affected the supply chain and gave way to uncertainty in the stock market. Moreover, falling business confidence and increased panic among customers hampered the market.
  • The Covid-19 outbreak severely affected the automotive and industrial sectors as production facilities were closed. The large-scale manufacturing interruptions across Europe and disruptions in Chinese exports hampered the global radar market.

The air traffic control segment held the lion's share

By application, the air traffic control segment held the largest share in 2019, accounting for more than one-fourth of the global radar market, due to rise in number of airports and air travel in developing countries and the need for efficient airspace management system. However, the ground traffic control segment is estimated to register the highest CAGR of 5.8% during the forecast period, owing to growing opportunities for the airports to integrate advanced taxing guidance systems based on the existing international standards and integrated technologies.

Get detailed COVID-19 impact analysis on the Radar Market: https://www.alliedmarketresearch.com/request-for-customization/1930?reqfor=covid

The military and defense segment dominated the market

By end user, the military and defense segment held the largest share in 2019, contributing to around two-fifths of the global radar market, due to rise in usage of electronic warfare systems and UAVs and advancement in radar technologies and adaptabilities of new missions, platforms, and urroundings. However, the automotive segment is projected to manifest the highest CAGR of 6.7% during the forecast period, owing to surge in demand for safety features in automobiles and rise in demand for comfortable driving.



North America held the largest share

By region, the market across North America held the largest share in 2019, accounting for nearly one-third of the market, due to surge in road victims, rapidly increasing urbanization, changing consumer lifestyles, and stimulating demand for radar in a luxury vehicle. However, the global radar market across Asia-Pacific is expected to portray the highest CAGR of 6.4% during the forecast period, owing to rise in the defense budget of India and China, along with increasing demand for the radar systems.


Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/1930

Major market players

  • Northrop Grumman Corporation
  • SAAB AB
  • Lockheed Martin Corporation
  • Thales Group
  • Rockwell Collins Inc.
  • Honeywell International Inc.
  • General Dynamics Corporation
  • Dassault Aviation
  • BAE Systems
  • L-3 Communications Holdings

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter 

Get more information: https://www.alliedmarketresearch.com/library-access

Related Reports:

Global & Asia-Pacific Radar Market by Product Type (Continuous Wave Radar, Pulse Radar, and Others), Platform (Marine, Air, Ground, and Space), Application (Air Traffic Control, Remote Sensing, Ground Traffic Control, and Space Navigation & Control), and End User (Automotive, Aviation, Industrial, Weather Monitoring, Military & Defense, and Others): Opportunity Analysis and Industry Forecast, 2020–2027

LiDAR Market By Type (Terrestrial, Aerial, Mobile, and Short Range), Component (LASER, Inertial Navigation System, Camera, GPS GNSS Receiver, and MEMS), Application (Corridor Mapping, Seismology, Exploration & Detection, and Others), and End User (Defense & Aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining, and Transportation): Global Opportunity Analysis and Industry Forecast, 2020-2027

Airborne LiDAR Market by Component (Lasers, Inertial Navigation Systems, Cameras, GPS/GNSS Receivers, and Micro-electromechanical Systems), Application (Corridor Mapping, Seismology, Exploration & Detection, and Others), and End User (Aerospace & Defense, Civil Engineering, Archaeology, Forestry & Agriculture, Mining Industry, and Transportation & Logistics): Global Opportunity Analysis and Industry Forecast, 2018–2025

LiDAR Sensor For Environmental Market By Technology (2D LiDAR, 3D LiDAR, and 4D LiDAR), Installation Type (Airborne LiDAR and Ground-Based LiDAR), Service (Aerial Surveying and Ground-Based Surveying), and Application (Forest Management, Coastline Management, Air Pollution, Water Pollution, Agriculture, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

LiDAR Market By Type (Terrestrial, Aerial, Mobile, and Short Range), Component (LASER, Inertial Navigation System, Camera, GPS GNSS Receiver, and MEMS), Application (Corridor Mapping, Seismology, Exploration & Detection, and Others), and End User (Defense & Aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining, and Transportation): Global Opportunity Analysis and Industry Forecast, 2020-2027

Prebook These Reports:

Ground Penetrating Radar Market By Type (Handheld Systems, Cart-Based Systems, and Vehicle-Mounted Systems), Application (Utility Detection, Concrete Investigation, Transportation Infrastructure, Archaeology, and Others), and Offering (Equipment and Services): Global Opportunity Analysis and Industry Forecast, 2020–2027

Marine Radar Market By Product Type (S-Band, X-Band, and Others), Application (Fishing Vessel, Recreational Boat, Merchant Marine, and Others), and Industry Vertical (Naval): Global Opportunity Analysis and Industry Forecast, 2020–2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected] 
Web: https://www.alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg  


[ Back To TMCnet.com's Homepage ]