3D Radar provides radar coverage in three dimensions. 3D Radars can be used for multiple applications based on characteristics such as antenna’s height and target detection range. Deployment of 3D Radar in the industry sector is growing significantly because 3D Radars provide more accurate and precise data. Increasing government investments in military and defense in order to enhance detection capabilities, and surveillance resolution and duration is expected to drive the market growth during the forecast period. Furthermore, companies are emphasizing on the manufacturing of lightweight and innovative radars. Governments and automotive companies will continue to invest huge amounts in the advancement of 3D Radar. The 3D Radar market is estimated to reach value of US$ 27,919.8 Mn by 2026, recording a CAGR of 13.5%.
Several developed economies are progressively increasing their defense budgets for national safety and security. In addition, emerging countries are replacing legacy radar systems with 3D Radar systems in order to provide better border surveillance. Thus, growing economic and security concerns among different countries is anticipated to contribute significantly to market growth. Furthermore, increasing demand for lightweight radars which can be easily integrated in almost any type of mobile platform, fixed structure, or C² systems is contributing to the growth of the market.
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However, high implementation cost of certain radars (as some radars have shorter lifecycle) is expected to hamper the market growth during the forecast period.
Furthermore, companies are finding integration of artificial intelligence into radar systems a huge opportunity to develop advanced products. Companies are investing massive amounts to meet the growing needs of commercial enterprises and governments to deploy technologically advance radars.
The 3D Radar market is segmented on the basis of component, frequency band, industry, and platform. Based on component, the market is segmented into software, hardware, and services. Services component can be further segmented into consulting, installation & integration, and maintenance. Based on frequency band, the market is segmented into HF- and VHF- Radar, C- Band (UHF- Radar), D- Band (L-Band Radar), E/F-Band (S-Band Radar), and others. Based on platform, the market can be segmented into airborne, ground, and naval. On the basis of industry vertical, the market is segmented into automotive and public infrastructure, energy & utilities, government and others (agriculture, hospitals etc). From a geographical perspective, North America is expected to hold major share in the 3D Radar market. Growth in this region is attributed to strong adoption and penetration of 3D Radar in the military segment, as well as presence of large number of manufacturers in the region. Asia Pacific is expected to witness lucrative growth due to the rising adoption of technologically advanced 3D Radar systems.
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3D Radar is prominently expanding with crucial technological advancements in different industry sectors; therefore existing players are focusing on maintaining their market presence by investing huge amounts in research and development. The market is extremely saturated and consists of many local and regional players. Companies present in the market are focusing on consolidating their foothold in the 3D Radar market by strategic partnerships, product innovation, and investments in research & development. For instance, in January 2017, under a US$ 122.04 Mn contract, BAE Systems developed, manufactured, and provided support for 19 of the radars of the Royal Navy until 2024. All 19 Artisan 3D systems were delivered to the Ministry of Defence (MoD) by the middle of 2017.
Some of the active players profiled in the 3D Radar market report include Airbus Defense and Space, BAE Systems plc, Harris Corporation, Honeywell International Inc., Leonardo S.p.A., Lockheed Martin, Northrop Grumman Corporation, Rockwell Collins, SAAB Group, and Thales Group.
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