Key Players:
Lockheed Martin Corporation (US), Raytheon Technologies Corporation (US), Indra Sistemas, S.A. (Spain), Northrop Grumman Corporation (US), Thales Group (France), BAE Systems (UK), Airbus SAS (The Netherlands), Honeywell International Inc. (US), Saab AB (Sweden), L3Harris Technologies, Inc. (US).
Market Overview:
The 3D Radar Market is expected to reach USD 702.7 Million by 2030 at 20.35% CAGR during the forecast period 2020-2030. The 3D radar systems are used in small unmanned aircraft systems. It is widely used in military missions and surveillance. The higher demand for unmanned aerial vehicles is extensively growing. Hence, the development and investment in unmanned aerial vehicles are chiefly driving the 3D Radar Market.
In the modern world, the usage of advanced warfare equipment is propelling. The adoption rate of 3D radar in airports is enhancing the market’s growth. The major growth in missile defense systems along with technological advancements like the miniaturization of 3D radar will provide wide opportunities for the market. Now unmanned vehicles are highly utilized in commercial applications for delivery purposes and events for surveillance.
Unmanned aerial vehicles are also used to detect moving objects like tanks, helicopters, and aircraft. This is possible when the equipment has 3D radars in unmanned aerial vehicles. Therefore, the growing rate of procurement of unmanned aerial vehicles in the defense sectors is simultaneously increasing the demand for 3D Radar Market Trends.
Market Segments:
The 3D Radar Market is segmented into major segments such as platform, frequency band, and range.
The platform segment is segregated into ground, airborne, and marine. Among these, the ground segment is the dominating one due to the growing number of military surveillance programs and investments in the defense sector. The airborne segment will obtain the highest CAGR, while the marine segment will register a steady growth rate.
The frequency band segment consists of C/S/X Band, E/F Band, L Band, etc. The C/S/X will acquire the highest CAGR, and the E/F will notice a significant growth rate. The L band segment shows a considerable growth rate.
The range segment of the market is divided into the long, short, and medium ranges. The long-range is the dominating segment, and the medium-range is to reach the highest CAGR in the forecast period. The short-range will notice significant growth.
Regional Analysis:
According to the geographical report, the 3D Radar Market Share covers the major regions worldwide, such as North America, the European region, Asia Pacific, the Middle East, and Africa.
Among these regions, North America is leading the market because of the prominent industrial players in the region. The European market is driven by the naval modernization programs in the UK are expected. The Asia Pacific will reach the highest CAGR in the forecast period due to the growth in the aviation sector in India, China, and Japan.
The other regions, such as the Middle East, are also showing significant growth due to the investment by the governments in border and airport security in countries like UAE, Israel, and Iran. Mexico, South Africa, and Brazil will notice a steady growth due to the growing investment in the military sector.
Industry News:
In April 2022, Israel Aerospace Industries (IAI) signed an agreement with Hyundai Heavy Industries (HHI) to provide the radar system for the Philippine Navy’s new corvettes.
Based on the agreement Israel Aerospace Industries will provide the ALPHA 3D radar system, a lightweight, multi-functional 3D Active Electronically Scanned Array radar. It will provide 3D long-range maritime surveillance for Philippine Navy’s next-generation combatant ships.
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