NEW YORK, Aug. 30, 2017 /PRNewswire/ --
"The 3D radar market is projected to grow at a CAGR of 20.36% from 2017 to 2022."
The 3D radar market is projected to grow from USD 702.8 million in 2017 to USD 1,775.0 million by 2022, at a CAGR of 20.36% from 2017 to 2022. The emergence of modern warfare techniques, adoption of 3D radar by airports, and geopolitical instabilities in the Middle East and Asia Pacific regions are the key factors driving the growth of the 3D radar market. However, increasing deployment of ballistic missiles and air & missile defense systems offers opportunities for the growth of the 3D radar market during the forecast period.
"Based on the platform, the airborne segment is estimated to account for the largest share of the 3D radar market in 2017."
Based on the platform, the airborne segment is estimated to account for the largest share of the 3D radar market in 2017. The growth of this segment of the market can be attributed to the increasing applicability of airborne 3D radar in the aerospace industry. Airborne 3D radar is deployed in both, civil as well as military aircraft. Airborne 3D radar facilitates the detection of another aircraft without requiring visual contact during conditions of reduced visibility. It also provides information with respect to weather conditions and issues warnings to pilots.
"The North American region is estimated to account for the largest share of the 3D radar market in 2017 while the Asia Pacific 3D radar market is projected to grow at the highest CAGR during the forecast period."
The North American region is estimated to account for the largest share of the 3D radar market in 2017. The increased demand for different types of 3D radar that are utilized in surveillance activities is anticipated to drive the growth of the 3D radar market in the North American region. In addition, the military forces of the US are currently involved in replacing their legacy radar systems with highly advanced 3D radar systems. Thus, the development of advanced radar systems is one of the most significant factors driving the growth of the North America 3D radar market. The Asia Pacific 3D radar market is projected to grow at the highest CAGR during the forecast period, owing to the increased military budgets and deployment of various defense systems, such as X-band radar at military bases.
The breakup of the profiles of the primary participants in this report on the 3D radar market has been given below:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America - 45%, Europe – 20%, Asia Pacific – 30%, and RoW – 5%
The key players profiled in this report on the 3D radar market are Northrop Grumman Corporation (US), Raytheon Company (US), Thales Group (France), Airbus Defense and Space (US), BAE Systems plc (UK), etc., and manufacturers of different types of 3D radar such as Honeywell International Inc. (US), SAAB Group (Sweden), ELTA Systems Ltd. (Israel), Leonardo S.p.A. (Italy), Indra Sistemas, S.A. (Spain), etc.
The market study segments the 3D radar market based on the range (long range, medium range, short range), frequency band (C/S/X band, L band, E/F band, and others), platform (airborne, ground, and naval) and maps these segments and subsegments across five major regions, namely, North America, Europe, Asia Pacific, Middle East and Rest of the World (RoW). The report provides an in-depth market intelligence regarding market dynamics and major factors such as drivers, restraints, opportunities, and industry-specific challenges that influence the growth of the 3D radar market, along with analyzing micro markets with respect to individual growth trends, future prospects, and their contribution to the 3D radar market.
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analysis, which include industry analysis (industry trends), market share analysis of the top players, supply chain analysis, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high growth segments of the 3D radar market, high growth regions, and drivers, restraints, opportunities, and challenges for the 3D radar market.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on different types of 3D radar offered by the top players operating in the 3D radar market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the 3D radar market.
• Market Development: Comprehensive information about emerging markets as the report analyzes the markets for 3D radar across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the 3D radar market.
• Competitive Assessment: In-depth assessment of the market shares, strategies, products, and manufacturing capabilities of the leading players operating in the 3D radar market.
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