06-17-2024 01:00 PM CET | Advertising, Media Consulting, Marketing Research
Press release from: The Business research company
X-Band Radar Market
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.
X-Band Radar Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.06 billion In 2028 At A CAGR Of 3.9% :
The x-band radar market size has grown steadily in recent years. It will grow from $5.86 billion in 2023 to $6.06 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to military modernization programs, threat perception and security concerns, increased naval and maritime applications, weather monitoring and forecasting, aviation safety, coastal surveillance.
The x-band radar market size is expected to see steady growth in the next few years. It will grow to $7.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to increasing demand for unmanned systems, space exploration and satellite communication, commercial aviation upgrades, environmental monitoring and disaster response, advancements in material science, focus on cybersecurity. Major trends in the forecast period include advancements in technology, dual-use applications, phased array radar systems, gallium nitride (gan) technology, compact and mobile radar systems, integration of artificial intelligence (ai), digital radar systems, international collaborations.
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X-Band Radar Market Major Segments
The x-band radar market covered in this report is segmented -
1) By Type: Mobile X-Band Radar, Sea-Based X-Band Rada
2) By Array: Active Electronically Scanned Array (AESA), Passive Electronically Scanned Array (PESA)
3) By Platform: Airborne, Terrestrial, Naval
4) By Application: Defense, Government, Commercial
Key Driver - The Rising Demand For Security Systems Drives The X-Band Radar Market
The growing demand for security systems is driving the X-band radar market. Security systems refer to several techniques or equipment intended to protect people and property against a wide range of dangers. The border security system offers administration of border-patrol missions, real-time surveillance, early warning, and targeting, further enhancing land and maritime security, regional control, and border protection. The X-band radar is one of the security equipment used for detecting objects and helps in surveillance. For instance, according to the 2022 Global Terrorism Index (GTI), the number of terrorist attacks around the world increased to 5,226 in 2021. Thus, the growing demand for security systems will increase the demand for X-band radar.
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Prominent Trend - Major Players In X-Band Radar Market Embrace Environmentally-Friendly Materials
Product innovation is a key trend gaining popularity in the X-band radar market. Major players in the X-band radar market are focusing on innovation by using environment-friendly materials to sustain their position in the market. For instance, in June 2021, Raytheon Technologies, a US-based aerospace, and defense company that manufactures X-band radars entered into a partnership with the U.S. Missile Defense Agency (MDA), the Department of Defense. The partnership aimed at moving to more environmentally friendly materials for the Sea-Based X-Band Radar (SBX) cooling system. The restoration of the outdated system dramatically reduces energy demands and greenhouse gas emissions while enhancing dependability.
X-Band Radar Market Players
Major companies operating in the x-band radar market report are Japan Radio Company Limited, Furuno Electric Co. Ltd., Terma A/S, Northrop Grumman Corporation, Saab AB Group, Israel Aerospace Industries Ltd., Thales Group, Leonardo S.p.A., Hensoldt AG, Reutech Radar Systems, Vaisala Oyj, Indra Sistemas S.A., Prosensing Inc., Raytheon Technologies Corporation, Kelvin Hughes Limited, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Selex ES Inc., Telephonics Corporation, Harris Corporation, BAE Systems plc, ASELSAN A.Ş., ELTA Systems Ltd., Bharat Electronics Limited, RADA Electronic Industries Ltd., SRC Inc., Cobham plc, Echodyne Corporation, Cambridge Pixel Ltd., Blighter Surveillance Systems Ltd., DeTect Inc., Exelis Inc., GEM elettronica srl
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the X-band radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the x-band radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. X-Band Radar Market Report Structure
3. X-Band Radar Market Trends And Strategies
4. X-Band Radar Market - Macro Economic Scenario
5. X-Band Radar Market Size And Growth
…..
27. X-Band Radar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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