DUBLIN, June 14, 2023 /PRNewswire/ — The “Radome Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global radome market grew from $1.66 billion in 2022 to $1.87 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The radome market is expected to grow to $2.77 billion in 2027 at a CAGR of 10.3%.
Major players in the radome market are Northrop Grumman, General Dynamics Mission Systems Inc., Saint-Gobain Performance Plastics, Raytheon Technologies, Meggitt PLC, Airbus SE, FACC AG, CPI International Inc., Jenoptik AG, The NORDAM Group LLC, Royal DSM, TenCate Advanced Composites, Verdant, Royal Engineered Composites, Infinite Technologies Radomes, and Composite Structures Inc
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A radome is an electronic antenna enclosure. It is constructed of a material that will minimally attenuate the electromagnetic signal transmitted or received by the antenna. These enclosures are made of either rigid self-supporting materials or air-inflated flexible fabrics. The radome is used to enclose radar systems and satellite communications antennas and protect radar from environmental factors such as strong wind, snow, rain, and UV light and prolong the lifespan of components.
The main types of radome are shell structure and spherical structure. The shell structure radome refers to a thin, curved plate structure shaped to transmit applied forces through compressive, tensile, and shear stresses of the surface. The various types of offerings include radome bodies, accessories, and services and are used in shipboard radome, ground-based radome, and airborne radome applications.
Strategic collaborations and partnerships are the key trends gaining popularity in the radome market. Major players operating in the market are partnering and collaborating to develop a strong product portfolio and offer innovative products. For instance, in July 2021, RENK Group, a German industrial company, acquired L3Harris for a deal of $400 million.
This acquisition enables the RENK group to reinforce its mission of supporting the U.S. Army and its allies. L3Harris is a US-based company that manufactures naval shipboard radomes, airborne radomes, and submarine radomes. Also, in November 2020, Meggitt PLC, a UK-based aerospace company, partnered with BAE Systems for a deal of $5.71 million. This partnership enables advanced radar technology in the Royal Air Force’s Typhoon fighter jet. BAE Systems is a US-based company specializing in the design and manufacture of composite radomes.
North America was the largest region in the radome market in 2022. The regions covered in the radome market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the radome market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The increasing demand for new aircraft owing to the growing number of air passengers is contributing to the growth of the radome market. An aircraft is any machine or vehicle designed to travel through the air by the buoyancy of air on its surfaces. The increasing production of new aircraft to meet the demand requires the installation of a radome to protect radar from environmental factors such as strong wind, snow, rain, and UV light and prolong the lifespan, thereby promoting the production of the radome.
For instance, according to the India Brand Equity Foundation, by 2027 the number of aeroplanes is expected to reach 1,100 due to an increase in demand in the sector. Therefore, the increasing demand for new aircraft owing to the growing number of air passengers will drive the growth of the radome market.
The radome market consists of revenues earned by entities by providing devices and services such as radio frequency analysis, structure analysis, RF testing coordination, fiberglass tooling, and radome installation & supervision to enhance the protection of radar antennas. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Topics Covered:
1. Executive Summary
2. Radome Market Characteristics
3. Radome Market Trends And Strategies
4. Radome Market – Macro Economic Scenario
4.1. COVID-19 Impact On Radome Market
4.2. Ukraine-Russia War Impact On Radome Market
4.3. Impact Of High Inflation On Radome Market
5. Radome Market Size And Growth
5.1. Global Radome Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Radome Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Radome Market Segmentation
6.1. Global Radome Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Shell Structure
- Spherical Structure
6.2. Global Radome Market, Segmentation By Offering Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Radome Body
- Accessories
- Services
6.3. Global Radome Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Airborne Radome
- Ground-Based Radome
- Shipboard Radome
7. Radome Market Regional And Country Analysis
7.1. Global Radome Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Radome Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/w9oo5g
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