Dublin, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The "Asia Pacific Radar Simulator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component, System, and Application" report has been added to ResearchAndMarkets.com's offering.
The radar simulator market in Asia Pacific is expected to grow from US$ 326.19 million in 2022 to US$ 470.54 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2022 to 2028.
The adoption of artificial intelligence (AI), deep learning, and big data analytics is continuously increasing across various applications in the military & defense sector, making AI increasingly important for developing modern warfare systems. Unmanned aerial vehicles (UAVs) developed by various enterprises have modern capabilities and have extended their reach and operating boundaries. There has been a surge in the development of laser-guided missiles with higher accuracy to hit the locked target. To combat this threat in the future, there would be a rise in the development of radars and radar simulators to train operators to combat the rising modern warfare systems.
Edge Computing, AI, and machine learning are expected to speed up the development and adoption of AI-enabled warfare systems, which is anticipated to boost the radar simulator market growth in the coming years. Machine learning and deep learning have increased the computing power of drones, making them smarter and faster. Furthermore, edge computing integrated with AI has enabled military and defense enterprises to detect faults in their warfare systems and proactively avoid unplanned downtime. Additionally, the implementation of 5G is expected to enable massive device connectivity, which increases the capabilities of modern warfare systems due to reducing latency while using AI technology. Thus, the growing development of modern warfare systems is expected to positively impact the growth of the radar simulator market during the forecast period.
Asia Pacific Radar Simulator Market Segmentation
The Asia Pacific radar simulator market is segmented based on component, system, application, and country.
- Based on component, the market has been segmented into hardware and software. The hardware segment would dominate the Asia Pacific radar simulator market in 2022. In terms of system, the market is divided into system testing and operator training. The operator training segment would dominate the Asia Pacific radar simulator market in 2022.
- Based on application, the market has been bifurcated into military and commercial. The commercial segment dominated the Asia Pacific radar simulator market in 2022.
- Based on country, The Asia Pacific radar simulator market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China would dominate the market in 2022.
Market Dynamics
Market Drivers
- Surge in Demand for Air Traffic Control Radar Simulators
- Escalating Procurement of Radar Simulators among Military Forces
Market Restraints
- High Cost and Longer Lifespan of Radar Simulators
Market Opportunities
- Rising Demand for Skilled and Trained Radar Operators
Future Trends
- Increasing Modern Warfare Systems
| Report Attribute | Details |
| No. of Pages | 107 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $326.19 Million |
| Forecasted Market Value (USD) by 2028 | $470.54 Million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. APAC Radar Simulator Market Landscape
5. APAC Radar Simulator Market - Key Market Dynamics
6. Radar Simulator Market - APAC Analysis
7. APAC Radar Simulator Market- By Component
8. APAC Radar Simulator Market- By System
9. APAC Radar Simulator Market- By Application
10. APAC Radar Simulator Market - Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- Adacel Technologies Limited
- ARI Simulation
- Collins Aerospace
- L3Harris Technologies, Inc.
- Mercury Systems Inc.
- Micro Nav Limited
- Textron Systems Corporation
- Ultra Electronics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hruqzp
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