3D Radar Market Is Driven By The Increasing Adoption Of Advanced Warfare Technologies

SAN JOSE, Calif. - Dec. 11, 2019 - PRLog -- According to a new market research report published by Credence Research "Global 3D Radar Market – Growth, Future Prospects and Competitive Analysis, 2019 - 2027", the 3D radar market is set to grow with a CAGR of 18.2% during the forecast period, starting from US$ 775.6 Mn in 2018.

Market Insights

The market is driven by the growing adoption of advanced military technology and systems by the military. Over the last few years, it has been seen that defense organizations are moving rapidly towards advanced technologies to improve their defensive capabilities.  The proliferation of UAVs and ballistic missiles is a major factor in increasing the demand for 3D radar systems across the globe.

The market is classified as airborne, ground-based, and naval based on the platform. The airborne segment accounted for a majority share of more than 50% of revenues generated in 2018. The growth of the market is motivated by the widespread adoption of 3D radar between military and civilian aircraft. In addition, the increasing proliferation of UAVs also drives the market for airborne 3D radar systems. On the other hand, ground-based platforms are expected to grow significantly during the forecast period.

You can get the sample copy of this research by Credence Research here @ https://www.credenceresearch.com/sample-request/60049

The Asia Pacific 3D radar market is expected to grow substantially at a CAGR of more than 23 per cent during the forecast period. The growth of the market is driven by the government's increasing military and defense spending. In addition, the growing political tension and terrorist activity in the region is also acting as a major driver of market growth. In addition, the increasing importance of air traffic management also contributes to the growth of the market.

The prominent vendors of 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.