The research study conducted by Report Ocean on the “ Marine Radar Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Global Marine Radar Market is valued at approximately USD $$billion in 2021 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2022-2029. Marine radars are short-range radars which are widely utilized by numerous countries’ naval ships. They are used in military combat to address maritime disputes and geopolitical threats. The Marine Radar market is expanding because of factors such as increasing military spending on radar and air defence systems and the rising adoption of UAVs.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=bw7110
Radar systems improve tracking, monitoring resolution, and timeframe. Governments in major emerging economies have made significant investments in research and innovation activities to improve the functionality of naval vessels. According to the International Centre for Defence and Security, French defence spending will raise 7.4% year-on-year increase in spending from 2022 levels in 2023. Furthermore, as per Statista, in 2021, the United States led the ranking of countries with the highest military spending With USD 801, which accounts for about 38% of total global military spending. Another important component driving space increase is the adoption of UAVs. According to Statista, in 2022 the Chinese drone market was expected to generate the highest revenue worldwide at around USD 1.27 billion. The revenue of the United States and France accounts for USD 1.24 billion and USD 150 million respectively. In addition, the global commercial drone market is projected to reach a size of around USD 58.4 billion by 2026. The market is expected to grow at a compound annual growth rate of over 16% between 2021 to 2026. Also, rising technological advancements in radar technologies and growing demand for weapons guidance applications and surveillance would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Marine Radar stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Marine Radar Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing demand for surveillance radars for border surveillance, intelligence, and reconnaissance, and modern air defence systems. According to Statista, in 2020, the number of ships flying the United States flag reached 44,500, an increase of almost three per cent compared with 2019. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the increase in naval investments by the neighboring countries to procure and modernize their naval fleet., geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market player included in this report are:
Koden Electronics Co., Ltd
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon Technologies Corporation
Saab AB
Kongsberg Maritime AS
BAE Systems Plc
Teledyne FLIR LLC .
Navico Group As
Rutter Inc
Recent Developments in the Market:
In January 2023, The Air Force Research Laboratory was granted a USD 12 million Phase 2 contract for BAE Systems to develop a low-cost, all-weather, multi-mode radar open architecture seeker as part of the Maritime Weapon Innovation Program.
Global Marine Radar Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Product Type:
X Band Radars
S Band Radars
By Application:
Merchant Marine
Fishing Vessels
Yacht
Military
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
Request full Report
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.