Radar Market Trends
Radar systems are the detection systems that use radio waves to determine the range, angle and velocity of the objects. It is widely used to detect aircraft, ships, motor vehicles, spacecraft, guided missiles, weather formations and terrains. It was secretly developed during world war 2 for military usage to locate air, ground and sea targets. It is an electromagnetic based detection system that works by radiating energy into space by electromagnetic waves and studying the echo or the waves which reflected back. Radar-based equipment is prominently security equipment deployed in defence field of various nations.
Radar systems are the front runners of any homeland security systems and an increase in defence and military budgets across the globe have anticipated increasing the demands of radars in the upcoming period. Additionally, with infrastructural developments like the development of new airports and terminals across the globe is also expected to boost the growth of radars systems market. The growing terrorists’ activities, border infiltration and military conflicts in war towing capitals are considerably driving the increasing growth of Radar Systems.
With the growing concerns of public safety amidst growing passenger traffic on roads, rails and airways are leading to mass production of Radars which makes it easy in application use. The increased sea trade and cargo movements across the globe is encouraging the economies to invest in the increase in fleet size and making sea trade more efficient, this can positively fuel the growth of radars in locating the fleets.
Current geopolitical scenarios in developing and developed economies are focusing more on safe passenger travel as well as safe cargo shipment through the air. Thereby increasing adoption of radar systems and deploying radio detection systems across airports to enable ATC controllers to have better control over cargo and passenger movement. Similarly, the increasing use of radars in the automotive industry is by the introduction of Advanced Driver Assistance Systems (ADAS) in cars and electric vehicles which is further fuelling the growth of Radar systems.
The radar systems market is segmented on the basis of component insights, service insights, platform insights, frequency band, range insights, end-use insights and regional insights. North America is expected to witness the highest growth in radar systems market owing to the increase in military spending and development of modern passenger and military aircraft. North America is closely followed by Asia Pacific region owing to the ongoing trend of research and development in defence sectors and availability of funding and investments in this region. The presence of a number of SMEs, manufacturing bases, increase adoption of Radar technology are expected to increase the demand and development of radars.
Northrop Grumman Corporation, BAE Systems, Honeywell International Inc., Lockheed Martin Corporation; Collins Aerospace, General Dynamics Corporation, Raytheon Company and Thales Group are some of the prominent players in the radar systems market. The research and development capabilities of Northrop Grumman Corporation in developing military radars are significant.