Radar Systems: Leading the Change | Radar Systems Market | Times of India | 2021
Posted: Apr 27, 2019
Radar is a detection system that uses radio waves to determine the range, angle, or velocity of objects. It can be used to detect aircraft, ships, spacecraft, guided missiles, motor vehicles, weather formations, and terrain. The RADAR system generally consists of a transmitter which produces an electromagnetic signal which is radiated into space by an antenna. When this signal strikes any object, it gets reflected or reradiated in many directions. Radar Systems Market is expected to grow from USD 20.29 Billion in 2016 to USD 26.37 Billion by 2021, at a CAGR of 5.39% from 2016 to 2021.
Factors, such as increased usage of radar systems in unmanned vehicles and homeland security, are expected to drive the growth of the radar systems market.
The pulsed radars segment is estimated to lead the radar systems market in 2016 The pulsed radar segment led the radar systems market in 2016. This growth can be attributed to the fact that pulsed radar systems aid in efficient and accurate object detection and estimation of its range.
The modern uses of radar are highly diverse, including air and terrestrial traffic control, radar astronomy, air-defense systems, antimissile systems, marine radars to locate landmarks and other ships, aircraft anticollision systems, ocean surveillance systems, outer space surveillance and rendezvous systems, meteorological precipitation monitoring, altimetry and flight control systems, guided missile target locating systems, ground-penetrating radar for geological observations, and range-controlled radar for public health surveillance. High tech radar systems are associated with digital signal processing, machine learning and are capable of extracting useful information from very high noise levels. Radar is a key technology that the self-driving systems are mainly designed to use, along with sonar and other sensors. WIKI
Commercial is expected to be the fastest-growing segment of the radar systems market during the forecast period. Based on application, the radar systems market has been segmented into defense and commercial. The commercial segment is expected to lead the radar systems market. This can be mainly attributed to the increasing demand for radars across various industries, such as automotive and oil & gas.
North America is projected to be the largest market for radar systems market. The North American region is projected to lead the Radar Systems Market, owing to various technological developments in radar systems and the presence of key players in the region. The Asia-Pacific radar systems market is expected to grow at the highest CAGR, due to disputes and unrest in some countries in the region, which has led to the increased procurement of surveillance systems. Countries such as China, India, and Japan have invested significantly in coastal surveillance and weather detection capabilities.
Lockheed Martin Corporation is one of the key players in the radar systems market Lockheed Martin (U.S.), Rockwell Collins (U.S.), Saab Group (Sweden), BAE Systems (U.K.), Rheinmetall AG (Germany), and General Dynamics (U.S.) are among the key players operational in the radar systems market. Market share analysis has been carried out by tracking all the products of the key market players, their geographical presence, and recent developments.
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