IMARC Group, a leading market research company, has recently releases report titled, “Radar System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “, The study provides a detailed analysis of the industry, including the global radar system market report size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the radar system market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 33.7 Billion |
| Market Forecast in 2028 | US$ 42.2 Billion |
| Growth rate (2023 to 2028) | CAGR of 3.3% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is radar system?
An electromagnetic-based detection device called radio detection and ranging (RADAR) emits electromagnetic waves and analyses the returned echoes. It aids in precisely finding an object and determining its intended speed. It is frequently employed in military operations for ground, air, and naval defence. It is also employed to track and detect satellites and spacecraft, and guide an aircraft for proper landing and take-off during bad weather conditions. Besides this, it finds application in air traffic control, remote sensing, ground traffic control, and space navigation applications.
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What are the growth prospects and trends in the radar system industry?
One of the primary factors favourably affecting the market is the thriving automotive sector and growing use of cutting-edge safety features in passenger automobiles and other transportation systems. Radar systems are also used for digital signal processing because they can distinguish between signals and high noise levels produced by other electrical components. Moreover, the rising applications of radar systems in weather monitoring on account of the ability of radar signals to penetrate through fog, clouds, snow, and mist are propelling the market growth. Furthermore, the increasing use of radar technology in the healthcare sector for monitoring signals associated with respiration, heartbeat, and blood pressure is creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Pulse Radar
- Continuous Wave (CW) Radar
Breakup by Component:
- Antenna
- Transmitter
- Receiver
- Others
Breakup by Range:
- Short Range Radars
- Medium Range Radars
- Long Range Radars
Breakup by Application:
- Air Traffic Control
- Remote Sensing
- Ground Traffic Control
- Space Navigation and Control
- Others
Breakup by Frequency Band:
- X Band
- S Band
- C Band
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- BAE Systems Plc
- Dassault Aviation
- General Dynamics Corporation
- Honeywell International Inc.
- L3harris Technologies, Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Company
- Rockwell Collins Inc.
- SAAB AB
- Thales Group.
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