Market Overview
The global 3D radar market is expected to record a CAGR of 19.12% from 2020 to 2026. Rapidly growing geopolitical instabilities and the growing need for 3D radar at airports have significantly contributed to the expansion of the 3D radar market . The high competition due to the presence of different players in the market has prompted 3D radar suppliers to focus on innovation. Additionally, increased product launches by companies such as FLIR Systems, Inc. are expected to drive market growth. For example, in 2018, FLIR Systems, Inc. launched the FLIR Ranger R8SS-3D and R8SS radars, which offer medium range detection capabilities. The product launch has enabled the company to strengthen its presence in the global 3D radar market. Furthermore,
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Competitive Landscape
Lockheed Martin Corporation (USA)
Raytheon Technologies Corporation (USA)
Indra Sistemas, SA (Spain )
Northrop Grumman Corporation (United States)
Thales Group (France)
BAE Systems (United Kingdom)
Airbus SAS (Netherlands)
Honeywell International Inc. (United States)
Saab AB (Sweden)
L3Harris Technologies, Inc. (United States)
Market segmentation
The medium range segment is expected to grow with the highest CAGR on the market: The medium range segment is expected to grow with the highest CAGR during the study period as most military applications such as missile guidance are covered, mapping of objects and ground surveillance activities below the middle segment.
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Regional Analysis
Air Segment to Record Highest CAGR During Forecast Period – Expected the aircraft segment will record the highest CAGR during the forecast period due to the growing demand for military aircraft and UAVs from emerging countries. Additionally, various technology upgrade programs by developed countries such as the United States to include radar systems in their military aircraft are expected to drive the segment’s growth in the global market.
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