According to a new report Global Solid State Radar Market, published by KBV research, The Global Solid State Radar Market size is expected to reach $2.2 billion by 2027, rising at a market growth of 4.0% CAGR during the forecast period.
The Frequency Modulated Continuous Wave Radar is growing at a CAGR of 2.9% during the forecast period. The growth of the segment would be driven by the growing number of applications of FMCW in altimetry for airplane landings, speed guns, laboratory test equipment, teaching, runway debris monitoring, avalanche detection, and others.
The Military & Defense market is growing at a CAGR of 3.2% during the forecast period. The growth of the segment is attributed to the growing requirement for detecting systems used for military surveillance, fire control, Air Traffic Control (ATC), weapons location identification, and vehicle search. Radar devices are critical for detecting bombs and landmines that are undetectable to the human eye. Lightweight radars are one of the most in-demand products in the worldwide military radar industry.
The 3D market dominated the Global Solid State Radar Market by Dimension 2020, and would continue to be a dominant market till 2027; thereby, growing at a CAGR of 3.6 % during the forecast period.
The Non-Commercial market dominated the Global Solid State Radar Market by Industry 2020, and would continue to be a dominant market till 2027; thereby, growing at a CAGR of 3.1 % during the forecast period.
The X-Band market dominated the Global Solid State Radar Market by Frequency Band 2020, and would continue to be a dominant market till 2027; thereby, growing at a CAGR of 3 % during the forecast period. Aviation is one of the most common applications for X-band radars. Weather detection, bird activity detection, and anti-icing remote sensing are just a few of the applications for X-band radars. In addition, rising trends such as the rapid development of dual-band radar, the shrinking of radar design, and the rise in number of applications of X-band radar in space-based applications would boost the growth of the segment during the forecasting period.
The North America market dominated the Global Solid State Radar Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $840.4 million by 2027. The Europe market is estimated to witness a CAGR of 3.8% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 4.1% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/solid-state-radar-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Furuno Electric Co., Ltd., L3Harris Technologies, Inc., Raytheon Technologies Corporation, Saab AB, Honeywell International, Inc., Northrop Grumman Corporation, Thales Group S.A., BAE Systems PLC, Lockheed Martin Corporation, and Leonardo SpA.
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