DUBLIN, Dec. 22, 2022 /PRNewswire/ — The “3D Radar Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030” report has been added to ResearchAndMarkets.com’s offering.
The Increasing Adoption of Unmanned Vehicle for Military Application is Driving the Growth of 3D Radar Market
Globally, the “3D radar market” is expected to grow with a CAGR of 18.2% during the forecast period from 2022 to 2030, starting from US$ 1250.4 Mn in 2021.
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The market is driven by the increasing adoption of the unmanned aerial vehicles for military operations and advance surveillance application. As the political tension across the countries is rising and the terrorist activities are increasing, the governments are shifting towards advance UAVs for borderline surveillance and monitoring.
This has resulted in the increasing procurement of UAVs for military application. Since 3D radar is widely used across UAVs for remote sensing, the growing adoption of UAVs are estimated to drive the adoption of 3D radar.
The rising significance of the air traffic management solutions is further estimated to drive the adoption of the 3D radar systems. 3D radars are widely used across the military and civil aircrafts for collision detection and remote sensing applications.
Its superior properties make it an ideal solution for air traffic management applications hence, driving the growth of the 3D radar market. However, the high cost of the 3D radar systems is estimated to be the major inhibitor in the growth of the market.
Short Range Radar is Estimated to Grow Significantly During the Forecast Period
The 3D radar market is categorized based on the range into long range, medium range, and short range. The long range 3D radar segment accounted for more than 62% share in the revenue in 2020.
The growth of the market is driven by the large scale adoption of the long range radar systems in weather monitoring applications. It is used for accurate prediction of natural disasters. On the other hand, short range radar market is estimated to gain traction during the forecast period due to its wide scale adoption across the UAVs.
North America is Leading the 3D Radar Market
North America led the global 3D radar market in 2021 with a market share of more than 41%. The growth of the market is driven by high spending on military and defense applications in the region.
The Increasing activities for the procurement of UAVs for military applications are also acting as a major driver for the growth of the market. Additionally, the increasing research activities for the UAVs are also supporting the market growth in the region.
The major vendors in the 3D radar market are ASELSAN A.S., Airbus Defense and Space, ELTA Systems Ltd, BAE Systems PLC, Honeywell International Inc, Harris Corporation, Leonardo S.P.A, SAAB Group, Raytheon Company, Northrop Grumman Corporation, Rheinmetall AG, and Thales Group.
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of 3D Radar market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the 3D Radar market?
Which is the largest regional market for 3D Radar market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving 3D Radar market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the 3D Radar market worldwide?
Company Profiles
ASELSAN A.S.
Airbus Defense and Space
ELTA Systems Ltd
BAE Systems PLC
Honeywell International Inc
Harris Corporation
Leonardo S.P.A
SAAB Group
Raytheon Company
Northrop Grumman Corporation
Rheinmetall AG
N35Thales Group.
Frequency Band
C/S/X Band
E/F Band
L Band
Others
Range
Short Range
Medium Range
Long Range
Application
Airborne
Naval
Ground Surface
For more information about this report visit https://www.researchandmarkets.com/r/by0y5h
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SOURCE Research and Markets