X-Band Radar Market Industry Trends, Share, Size and Forecast Report By 2029
Research Nester published a report titled “X-Band Radar Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global X-Band radar market in terms of market segmentation by type, end-use, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global X-Band radar market is anticipated to garner noteworthy CAGR over the forecast period, i.e., 2021–2029.The market is segmented by type into mobile and sea X-Band radar, out of which, the mobile segment is expected to hold the largest share during the forecast period owing to the varied uses of mobile X-Band radar, such as, weather forecast, border security, and others. Based of end-use, the market is branched into defense, government, and civil, out of which, the defense segment is projected to gain the largest share during the forecast period, owing to the growing demand for X-Band radar for strengthening the defense sector.
The Global X-Band radar market is estimated to grow on the back of its varied applications, including satellite communication, wireless computer networking, airspace monitoring, weather forecast, and others. Moreover, the market growth can be attributed to the growing demand for X-Band radars in defense industry due to increasing terror attacks. Furthermore, the rising advancements in technology is estimated to boost the market growth.
Regionally, the market in North Americaregion is estimated to garner the largest share over the forecast period owing to the high government funding in defense sector along with growing technological research and development activities. The U.S. is the leading country in satellite communication, aerospace technology and defense satellite manufacturing, which is estimate to boost the market growth throughout the forecast period. The market in Asia Pacific and Middle East and Africa are also expected to witness significant growth during the forecast period owing to the growing threat of terrorism in both the regions.
Growing Demand for X-Band Radar in Defense Sector likely to Boost the Market Growth
Rising national security concerns among every nation due to the increasing incidences of terror attacks has led to raised government funding in defense sector. X-Band radars are used to track airspace and coastline to detect any unauthorized object, which is estimated to boost the demand of such radars in defense sector, which, in turn, is estimated to boost the market growth.
However, restraint by government on commercial use of X-Band radar is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global X-Band radar market which includes company profiling ofJapan Radio Co., Hensoldt AG (ETR: HAG), Terma A/S, Israel Aerospace Industries Ltd., Northrop Grumman Corporation (NYSE: NOC), Raytheon Technologies Corporation (NYSE: RTX), Reutech Pty (Ltd), Saab AB (STO: SAAB-B), Furuno Electric CO., LTD. (TYO: 6814) and Prosensing Inc.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global X-Band radar market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
