New York,US, Jan. 23, 2023 (GLOBE NEWSWIRE) -- 3D Radar Market Overview
Market Research Future (MRFR) 's report highlights 3D Radar Market Information By Platform, Frequency Band, Range, And Region - Forecast till 2030"; the market will reach USD 702.7 Million by 2030 at a 20.35% CAGR.
3D Radar Market Synopsis
Any defense inventory must have 3D Radar Systems, a technology for tracking and detecting images and information. 3D radar systems rapidly replace traditional 2D radars because they offer better location and height parameters—even in severe weather conditions. The market for 3D radar systems has expanded due to the rise of the unmanned aircraft vehicles (UAV) market. Small unmanned aircraft systems also frequently use 3D radar systems (UASs). These aircraft are frequently utilized for sophisticated military surveys and surveillance activities. The technology's expanded capabilities have increased demand even further by making it possible to detect surface targets.
Radio detection and the ranging system are what radar stands for. Radars with three dimensions are an improvement over two. A three-dimensional image of the object's elevation, range, and speed is provided by a 3D radar. Automatic airborne target detection is possible with 3D radars, which also efficiently operate in all weather conditions. The 3D radar system utilizes wireless connectivity and can collect data that may be used for 3D mapping of space from numerous perspectives. One of the key factors propelling the market for airborne 3D radar is an increase in the money allocated to unmanned aerial vehicle research and development.
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 2030: 702.7 Million |
| CAGR | 20.35% (2020–2030) |
| Base Year | 2019 |
| Forecast Period | 2020–2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Platform, Frequency Band, Range, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing adoption of 3D radars by airports · Rising geopolitical instabilities · Growing use of modern warfare techniques |
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Market Competitive Landscape:
The essential players in the 3D radar market are:
- Lockheed Martin Corporation (US)
- Raytheon Technologies Corporation (US)
- Indra Sistemas, S.A. (Spain)
- Leonardo S.p.A (Italy)
- Aselsan A.S. (Turkey)
- Rheinmetall AG (Germany)
- 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)
- ELTA Systems Ltd (Israel)
Market U.S.P. Covered:
Market Drivers:
Extreme weather, disruptions from nature or humans, and other factors do not affect the location and detection skills of 3D radar systems. Air traffic administration (ATM) becomes essential for ensuring safe and collision-free performance and efficient operations. The adoption of 3D radar systems is expanding since it is the long-term solution. These systems also include a weather processor, which offers precise weather data necessary for the effective and secure operation of air traffic. Due to the increased demand for information, surveillance, and other services, as well as the geopolitical unrest in the Middle East, defense organizations have begun to employ network-centric warfare and electronic warfare techniques.
Governments used 3D radar systems to find stranded citizens during assaults, and they were crucial in helping the disaster management teams get to key locations in time to provide the necessary medical assistance and other essential amenities. Many reputable companies are concentrating on creating cutting-edge military equipment that features 3D radar technology to increase their market share. Some of the key reasons propelling the expansion of the 3D radar market include the expanding use of contemporary combat tactics and the deployment of 3D radar by airports. In addition, it is projected that the increasing deployment of air and missile defense systems will stimulate the market for 3D radar.
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Market Restraints:
Some challenges that could impede the growth of the 3D radar market include the high installation costs and the technical skills needed to operate and maintain the system.
COVID 19 Analysis
Due to the COVID-19 issue, research and development for 3D radars have been thwarted globally because government bans on public meetings and announced lockdowns. Government expenditure is projected to shift to economic recovery due to the COVID-19 pandemic, which will cause a decline in 3D radar orders for the industry. Due to labor scarcity, the COVID-19 pandemic has negatively impacted the production rates of businesses that produce 3D radar. The market for military radars has been negatively impacted by the cancellation of several training operations between states and the worldwide reduction in military actions due to COVID-19, as the demand for pertinent spare parts is also low. After COVID-19, the market for 3D radars is anticipated to experience tremendous development because several nations have either already purchased or are planning to buy such radars for their armed forces.
Market Segmentation
By range, the market includes long-range, medium-range, and short-range. By platform, the market includes ground, airborne, and marine. By frequency band, the market includes the C/S/X band, E/F band, and L band.
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Regional Insights
According to estimates, North America will lead the market for 3D radar systems. Due to the large production of military technology and the monitoring of meteorological conditions due to the region's high vulnerability to natural disasters like hurricanes, floods, and cyclones, the United States promises a high potential market for 3D Radar Systems. Due to increased government efforts to install technically sophisticated surveillance systems and even some European governments' encouragement of the installation of novel radar systems in cars that help drivers better localize nearby objects and support the European Union's effort to reduce traffic fatalities, there is sizable market growth in Europe.
A sizable revenue share is anticipated for the Asia-Pacific region's 3D radar market. The requirement for sophisticated radars will expand as more cargo is transported over marine channels in the Indian Ocean and the Arabian Sea. To reinforce their national security protocols and military systems, nations throughout the APAC region heavily invest in cutting-edge radar technologies. The global market for 3D radar Systems is also anticipated to grow due to defense organizations' development of network-centric military tactics and electronic warfare methods in response to the expanding demand for intelligence, surveillance, and the geopolitical unrest in the Middle East.
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