VALLEY COTTAGE, New York, April 7, 2016 /PRNewswire/ --
According to a new market report published by Future Market Insights titled "X-Band Radar Market - Global Industry Analysis and Opportunity Assessment, 2016 - 2026," the global X-band radar market was valued at US$ 4.6 Bn in 2015 and is expected to register a CAGR of 3.8% from 2016 to 2026 to reach US$ 6.9 Bn by 2026. Growth of the global X-band radar market is primarily driven by increasing need of advanced security and surveillance systems across the world.
Increasing significance of weather and climate predictions, and aviation safety is propelling the demand for X-band radar market globally. X-band radars help improve aviation safety and increase the operational efficiency of the entire air transport industry. Besides, they also provide alerts on floods through continuous monitoring of rainfall. Vendors such as Saab Group and Northrop Grumman Corporation recently introduced weather monitoring radar.
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Inability to adjust quickly to track a stream of separate missiles is one of the factors restraining the growth of the market. Sea-based X-band radar can be supported by a land-based early warning radar in case of an event of an attack. These radars could help X-band radars by identifying a definite location for Sea-based X-band Radar (SBX) to focus on. However, aiming and re-aiming the giant radar's beam is a clumsy process. This inhibits X-band radar's ability to bend swiftly enough to track a range of different missiles.
On the basis of type, the global X-band radar market is segmented as mobile X-band radar and sea based-X-band radar. The mobile X-band radar segment was valued US$ 3.1 Bn in 2015 and is anticipated to register a CAGR of 4.1% during the forecast period 2016-2026. The sea-based X-band radar segment was valued US$ 1.5 Bn in 2015.
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X-Band Radar Market: Region-wise Segmentation
North America, the largest market for X-Band radar, was valued US$ 1.5 Bn in 2015and is expected to grow at a CAGR of 5.1% during the forecast period of 2016-2026. In North America region, ARL-E long range radars developed by Northrop Grumman Corporation have witnessed traction in their adoption by the U.S. government. These radars have enhanced the U.S. Army's C4ISR capabilities.
Western Europe region is expected be the second largest market of global X-band radar, followed by Eastern Europe. Ground Master 400 radar, developed by the Raytheon Company is very popular in this region.
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Key Players in X-Band Radar Market
Key players of the global X-band radar market include Northrop Grumman Corporation, Raytheon Company, Saab Group, Japan Radio Company Limited, Israel Aerospace Industries Ltd, Furuno Electric Co.,Ltd, Terma A/S, Detect, Inc., Reutech Radar Systems, and ProSensing, Inc.
Leading players in the global x-band radar market are focusing on the development of end-to-end products and services such as logistics, infrastructure and maintenance, and providing support to their clients. Companies such as Saab Group, Raytheon Corporation, DeTect, Inc. serve both domestic and international government customers as a prime contractor and subcontractor of defence and related programmes.
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SOURCE Future Market Insights