Fact.MR states that the global 3D radar market is expected to garner a market value of US$ 54.76 Billion by registering a staggering double-digit CAGR of 12.7% by the end of the forecast period 2022-2032. The growth in defense sectors across the globe along with advancement in technology to be more vigilant and ready beforehand is shaping the landscape for 3D radar market.
The impact of COVID-19 on 3D Radar was not much seen in 3D radar market. Despite the heavy blows to almost all industries, the 3D Radar industry generated a revenue of US$ 14.7 Bn in 2021 and continued to grow positively at a rate of 13% over the last year. The reason for the growth of the industry during the pandemic may be accredited to the growing global conflicts arising across the globe.
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Furthermore, the increasing wars in different countries of the globe are increasing the demand for 3D radar technology. Moreover, the penetration of electronic and network-centric warfare is propelling the adoption of 3D radar technology. Furthermore, the deployment of 3D radar for air defense is positively influencing the growth of the market.
Key Takeaways from Market Study
- By band frequency, E/F Band expected to grow at a CAGR of 1%during the next ten years.
- By component, hardware component is expected to hold 51.6% market share for 3D radar market.
- The U.S. is expected to capture nearly a quarter of the global 3D radar revenues in 2022.
- Russia is expected to register a CAGR of 7% for 3D radar in 2032.
- S. and Russia will flourish at a CAGR of 15% combined until 2032
- 3D radar market expected to grow at a CAGR of 7%in the next ten years.
“Increase in war situations across the globe is leading to the growing dependency on war equipment. In addition, technological advancement is helping in advancing the use of war equipment,” states a Fact.MR Analyst
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Competitive Landscape
- In February 2022, Honeywell announced that a drone which has been piloted by its IntuVue RDR-84K radar has proven its ability in a critical round of dodgeball. It was done with an aircraft which repeatedly changes its direction in a sequence of tests that are deciding factor to the future of pilotless aeronautics.
- Key players in the 3D radar market are Airbus Defense and Space, BAE Systems plc, Harris Corporation, Honeywell International Inc, Leonardo S.p.A., Lockheed Martin, Northrop Grumman Corporation, Rockwell Collins, SAAB Group and Thales Group
Key Companies Profiled
- Airbus Defense and Space
- BAE Systems plc
- Harris Corporation
- Honeywell International Inc
- Leonardo S.p.A.
- Lockheed Martin
- Northrop Grumman Corporation
- Rockwell Collins
- SAAB Group
- Thales Group
Some of the recent developments of key 3D Radar providers are as follows:
- In February 2022, Honeywell announced that a drone which has been piloted by its IntuVue RDR-84K radar has proven its ability in a critical round of dodgeball. It was done with an aircraft which repeatedly changes its direction in a sequence of tests that are deciding factor to the future of pilotless aeronautics.
- In January 2022, Leonardo won US $296 Mn deal in Eurofighter radar from Germany’s Hensoldt.
- In October 2020, BAE Systems announced that Specialists from the Team Tempest, Leonardo UK, are growing new radar innovation capable of providing 10,000 times a larger number of information than existing frameworks.
Similarly, recent developments related to companies offering 3D Radar have been tracked by the team at Fact.MR, which are available in the full report.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global 3D radar market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study indulges essential insights on the market on the basis of 3D Radar Market by Component (Hardware, Software. Services), by Frequency Band (HF-UND VHF-RADAR, C-Band (UHF-Radar), D-Band (L-Band Radar), E/F-Band (S-Band Radar), Other Frequency Bands), by Industry (Automotive and Public Infrastructure, Energy and Utilities, Government, Other Industries), by Platform (Airborne, Ground, Naval) and across seven major regions (North America, Latin America, Europe, East Asia, South Asia and Pacific and MEA).
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