The global 3D radar market is expected to gain from rising concerns pertaining to border security and increasing threat from anti-social outfits. Fortune Business Insights has recently announced publishing of a report, titled “3D Radar Market Size, Share and Global Trend by Range (Short Range, Medium Range, Long Range), Application (Airborne, Ground, Naval), Frequency (C/S/X Band, E/F Band, L Band, Others) and Geography Forecast till 2025.”
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/3d-radar-systems-market-100096
As per the report, in 2017 North America showcases a considerably high demand for 3D radar systems. The region is quite prone to natural calamities. Hence, the demand for 3D radar is very high in the region, to gain appropriate information and knowledge about the climatic condition. Moreover, the high production level of the warfare technologies is also generating demand for 3D radar. This is expected to enable growth in the global 3D radar market. Europe also holds a significant share in the global market. Governments in Europe are insisting on the deployment of advanced technology such as 3D radar in a surveillance system to attain high security. Besides this, the European Union is emphasizing implementing 3D radar in cars to reduce road accidents and attain better location services. These factors are expected to contribute towards the European Market’s expansion and further generate demand for 3D radar system, sensors, and associated apps.
Top Key Players Mentioned:
- Northrop Grumman Corporation
- Indra Sistemas
- Raytheon Company
- Thales Group
- BAE Systems PLC
- Airbus Defence and Space
- Honeywell International Inc.
- SAAB Group
- ASELSAN AS
- Rheinmetall AG
- ELTA Systems Ltd
The 3D radar market in Asia Pacific is expected to grow at a relatively higher CAGR. The expanding aerospace industry in nations such as India, China, and Malaysia and the rising need to monitor terror threats are a few factors expected to boost the Asia Pacific market. Besides this, the high production of nuclear weapons in the region is contributing to the rapid adoption of 3D radar. This is expected to increase the growth rate in the global market.
Adoption of Location Services Among Various End Users to Propel Growth
Increasing violation of traffic rules and high adoption of GPS services is anticipated to fuel the demand for 3D radar imaging and other services. Moreover, the increasing defense expenditure is positively contributing to the global market expansion.
Raytheon Company got into a Foreign Military Sales (FMS) contract in 2018 with the U.S. Air Force. The aim of the contract was to conduct a surveillance radar program operation. The deal was worth US$ 333.4 Mn. This is anticipated to increase the growth rate in the global 3D radar market.
On the contrary, harmful radiations extracting from the 3D radar and high cost associated with it are some major factors that may hamper the growth in the market during the forecast period.
Thales Acquired Aveillant to Gain a Strong Brand Presence
The global market is expanding and witnessing the influx of new players. Key players are adopting diverse strategies to strengthen their market position. Several mergers and acquisitions have taken place in the global market. For instance, in 2017 Thales acquired Aveillant, owing to the acquisition Thales owns a diverse product portfolio to offer. Some of the organizations operating in the global 3D radar market are Northrop Grumman Corporation, Indra Sistemas, Raytheon Company, Thales Group, BAE Systems PLC, Airbus Defence and Space, Honeywell International Inc., SAAB Group, ASELSAN AS, Rheinmetall AG, and ELTA Systems Ltd.