The integrated 3D radar market is estimated to grow at a steady CAGR of 12.8% during the forecast period. The market is expected to generate US$ 19.54 billion in revenue in 2023, with a value of US$ 62.01 billion by 2033.
Sales of integrated 3D radar are likely to skyrocket. Furthermore, sales of integrated 3D radars are expected to reach US$ 27.9 billion by 2026. Increasing integrated 3D radar sales are also expected to contribute to the expansion of the integrated 3D radar market share.
Integrated 3D radar technology is used to monitor and detect views and information, and it is an essential component of any defense arsenal. Even in bad weather, integrated 3D radars provide more exact position and height parameters and are gradually replacing ordinary 2D radars.
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The market for unmanned aerial vehicles (UAVs) has expanded in lockstep with the availability of integrated 3D radar. The growing need for intelligence, surveillance, and other capabilities, as well as geopolitical instabilities in the Middle East, are expected to drive the global integrated 3D radar market.
Manufacturers in the integrated 3D radar market now have a large platform from which to fulfill the whole integrated 3D radar demand. The global market for integrated 3D radars is becoming more competitive. With increasing competition, new competitors are providing a number of alternatives at reasonable prices, making integrated 3D radar more accessible to clients.
Key Takeaways:
- Increased R&D activities in the field of military simulation and rising defence expenditure in emerging economies are opportunities for the integrated 3D radar market, as total world military expenditure rose to around US$ 1739 billion in 2017, primarily due to increased spending by many countries such as China, India, Saudi Arabia, and others.
- In addition, firms like Vayyar Imaging have created new evaluation kits that make it easier to design, integrate, and scale integrated 3D radar image sensing for better application.
- Because of the high production of combat technologies and the monitoring of meteorological conditions in this region, which is prone to natural disasters like cyclones, floods, and hurricanes, the United States offers a strong potential demand for integrated 3D radar.
- In Europe, there has been significant market growth, owing to increased government activities to deploy technologically advanced surveillance systems and some European governments encouraging the implementation of innovative radar systems in cars to assist drivers in better localization of nearby objects, thus contributing to the European Union’s goal of reducing road fatalities.
- The rising aerospace sector, surveillance of global threats, and the advent of nuclear weapons having governments in this area have forced the acceptance or deployment of additional integrated 3D radar at a quick rate in emerging economies such as China, India, Malaysia, and others.
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Competitive Landscape
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., and others are among the prominent competitors participating in the integrated 3D radar Market.
- Thales finalized the acquisition of Aveillant in November 2017. Customers will be able to benefit from a new capability that complements the company’s new radar surveillance product as a result of this purchase.
- Raytheon Company was awarded a foreign military sales (FMS) contract by the US Air Force in January 2018 to run the surveillance radar program. The transaction was for USD 333.4 million.
Key Segments:
By Component
- Hardware
- Software
- Services
- Consulting
- Installation & Integration
- Maintenance
By Frequency Band
- HF-UND VHF-RADAR
- C-Band (UHF-Radar)
- D-Band (L-Band Radar)
- E/F-Band (S-Band Radar)
By Industry
- Automotive & Public Infrastructure
- Energy and Utilities
- Government
By Platform
- Airborne
- Ground
- Navel
By Region
- United States
- United Kingdom
- China
- Japan
- India
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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Future Market Insights (ESOMAR-certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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