April 4, 2020

3D Radar Market- Airborne segment accounted for a majority share of more than 50% of revenues generated in 2018

According to a new market research report issued by Credence Research, the 3D radar market is set to grow with a CAGR of 18.2% over the forecast period, starting from US$ 775.6 million in 2018.

Key questions answered in this report

  • What was the market size of 3D radar in 2018 and forecast up to 2027?
  • Which is the largest regional market for 3D radar?
  • What are the major trends followed in 3D radar market across different regions?
  • Who are the key companies in the 3D radar market?
  • What are the key strategies adopted by the leading 3D radar companies in the market?

Credence Research is providing Free Sample Get it here: https://www.credenceresearch.com/sample-request/60049

Market Insights

The market is driven by the growing adoption of advanced military technologies and systems by military forces. Over the past few years, it has been seen that defence organizations are moving rapidly towards advanced technologies to enhance their defensive capabilities. The adoption of UAVs and ballistic missiles is a major factor in increasing demand for 3D radar systems across the globe.

Rapid technology advancement in radar systems also provides as a major driver of market growth. Over the last decade, radar systems have evolved significantly from traditional radar technology to 3D radar systems. This is resulting in the development of a number of new avenues for market growth. However, lack of expertise is a major challenge for the market players.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/3d-radar-market

The market is categorized based on the platform into airborne, ground-based, and naval. The airborne segment accounted for a majority share of more than 50% of revenues generated in 2018. Market growth is driven by the widespread adoption of 3D radar between military and civil aircraft. In addition, the growing adoption of UAVs is also driving the demand for airborne 3D radar systems. On the other hand, it is estimated that the ground-based platforms will grow significantly during the forecast period.

The Asia Pacific 3D radar market is projected to grow significantly at a CAGR of more than 23 per cent during the forecast period. The growth of the market is driven by increasing government spending on the military and defence sectors. In addition, the growing political tension and terrorist activities in the region also act as a major driver of market growth. In addition, the growing importance of air traffic management also contributes to the growth of the market.

The prominent vendors of the 3D radar market are ASELSAN A.S., Airbus Defense and Space, ELTA Systems Ltd, BAE Systems PLC, Honeywell International Inc, Harris Corporation, Leonardo S.P.A, SAAB Group, Raytheon Company, Northrop Grumman Corporation, Rheinmetall AG, and Thales Group.

Credence Research is providing Free Sample Get it herehttps://www.credenceresearch.com/sample-request/60049

MarketWatch: 3D Radar Market (18.2% CAGR) 2019-2027: Global Business Growth, Size and Forecast

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