24 March 2021
Visiongain has published a new report on Radar System Market Report to 2031: Forecasts by Technology (Pulsed Radar and Continuous Wave (CW) Radar), by Component (Antenna, Transmitter, and Receiver), by Range (Short Range Radars, Medium Range Radars, and Long-Range Radars), by Frequency Band (HF Band, V/UHF Band, L Band, S Band, C Band, X Band, K/Ku/Ka Band, and Millimetric Band), and By Application (Airborne, Land-based, and Naval). PLUS, Profiles of Leading Radar Systems Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Radar Systems market was valued at US$ xx billion in xx and is projected to reach at a market value of US$ xx billion by 2031.
COVID-19 Impact on Radar Systems Market
The COVID-19 pandemic has impacted lives of people all around the globe. It has proved quite detrimental for business across the globe and no industry and remained untouched by its impacts. This pandemic has caused a serious disruption in the supply chain and has resulted in a huge supply-demand gap in the market for radar systems worldwide.
Increased Use of Radars for Unmanned Vehicles
The increasing application of radar systems in wake of emerging demand for unmanned vehicles, and growing demand of radar systems for homeland security purpose is expected to drive the growth of the radar systems market over the forecast years.
Improved Capabilities of Radar Systems Resulting in Greater Efficiency
The radar systems help improve safety in aviation sector and increases the operational efficacy of the complete air transport business worldwide. Radar systems provide alerts related with agriculture and other weather changes by the monitoring of rainfall intensity around the year. Such valuable alerts aid in the readiness for the environmental dangers much before they happen. Thus, the rising demand for improved weather monitoring systems is expected to drive the growth of radar system market over the forecast timeframe.
Development of Autonomous Vehicle Technology
The world is experiencing a dramatic shift towards automated vehicles. Autonomous vehicles are able to run smoothly on the roads using the inputs from radar systems. Autonomous vehicles and ADAS are trending in the automotive industry, which are anticipated to enhance and expand the precision associated with autonomous driving. The rising demand for autonomous vehicles is anticipated to bolster the growth of radar systems over the forecast period.
Development of Low-Cost and Miniaturized Radars
Developed nations across the world (for instance, the U.S.) are continuously reducing the expenditure on the procurement of defence equipment. They are focused towards the miniaturization & automation of defense and security systems. This factor is predicted to offer lucrative opportunities over the forecast timeframe.
The radar systems market is a consolidated market. It is dominated by a few major players. Some of the companies profiled in the report include Rockwell Collins, Inc., Saab Group, Honeywell International Inc., General Dynamics Corporation, Rheinmetall AG, BAE Systems PLC, Finmeccanica S.P.A, Northrop Grumman Corporation, The Raytheon Company, Thales Group.
In December 2020, Saab AB revealed its plans to merge two of its business units to form a single entity, in order to strengthen its radar portfolio and target future market needs.
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