The Increasing Adoption of Unmanned Vehicle for Military Application is Driving the Growth of 3D Radar Market

Globally, the 3D radar market is expected to grow with a CAGR of 18.2% during the forecast period from 2023 to 2030, starting from US$ 1250.4 Mn in 2021. The market is driven by the increasing adoption of the unmanned aerial vehicles for military operations and advance surveillance application. As the political tension across the countries is rising and the terrorist activities are increasing, the governments are shifting towards advance UAVs for borderline surveillance and monitoring. This has resulted in the increasing procurement of UAVs for military application. Since 3D radar is widely used across UAVs for remote sensing, the growing adoption of UAVs are estimated to drive the adoption of 3D radar.

The rising significance of the air traffic management solutions is further estimated to drive the adoption of the 3D radar systems. 3D radars are widely used across the military and civil aircrafts for collision detection and remote sensing applications. Its superior properties make it an ideal solution for air traffic management applications hence, driving the growth of the 3D radar market. However, the high cost of the 3D radar systems is estimated to be the major inhibitor in the growth of the market.  

Short Range Radar is Estimated to Grow Significantly During the Forecast Period  

The 3D radar market is categorized based on the range into long range, medium range, and short range. The long range 3D radar segment accounted for more than 62% share in the revenue in 2020. The growth of the market is driven by the large scale adoption of the long range radar systems in weather monitoring applications. It is used for accurate prediction of natural disasters. On the other hand, short range radar market is estimated to gain traction during the forecast period due to its wide scale adoption across the UAVs.

North America is Leading the 3D Radar Market                                             

North America led the global 3D radar market in 2021 with a market share of more than 41%. The growth of the market is driven by high spending on military and defense applications in the region. The Increasing activities for the procurement of UAVs for military applications are also acting as a major driver for the growth of the market. Additionally, the increasing research activities for the UAVs are also supporting the market growth in the region.

The major vendors in the 3D radar market are ASELSAN A.S., Airbus Defense and Space, ELTA Systems Ltd, BAE Systems PLC, Honeywell International Inc, Harris Corporation, Leonardo S.P.A, SAAB Group, Raytheon Company, Northrop Grumman Corporation, Rheinmetall AG, and Thales Group.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of 3D Radar market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the 3D Radar market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of 3D Radar market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the 3D Radar market?
• Which is the largest regional market for 3D Radar market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving 3D Radar market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the 3D Radar market worldwide?