Antenna Transducer and Radome Market Size, Global Opportunities, Share, Growth, Industry Trends to 2027
Antenna
Transducer and Radome Market will exhibit a CAGR of 10.2% between 2020 and 2027
and reach USD 16.73 by 2027, and the market value as per 2019 was USD
11.13 Billion.
Fortune
Business Insights™ in a recently published report, titled, “Antenna, Transducer
and Radome (ATR) Market Size, Share and Industry Analysis by Component
(Antenna, Transducer, and Radome), By Technology (Radar, Communication and
Sonar), By Application (Commercial, Defense, and Homeland Security), and
Regional Forecast, 2020 – 2027.”
Antenna Transducer and Radome Market Drivers and Restraint :
Increasing Military Budgets Worldwide to Drive the Market
According
to a report by Stockholm International Peace Research Institute (SIPRI),
overall global military expenditure has shot to $1,917 billion in 2019 that is
a gradual increase of 3.6% from 2018. Additionally, the five largest spenders
along with Saudi Arabia and Russia accounted for about 62% of the total
expenditure. Furthermore, the United States registered the highest military
spend that was a staggering $732 billion in 2019, a growth of over 5.3%
from 2018, while holding nearly 38% of the total military spend. International
threats and political tensions is propelling the countries to modernize their
military with high-tech and advanced weaponry systems. The acute focus on
strengthening their military prowess by the government agencies that include
increased military budget will drive the market growth during the forecast
period.
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List of Significant Manufacturers Antenna Transducer and Radome
Market are:
- BAE
Systems (The U.K.)
- Cobham
plc. (The U.K.)
- General
Dynamics Corporation (The U.S.)
- Honeywell
International Inc. (The U.S.)
- L-3Harris
Technologies Inc. (The U.S.)
- Leonardo
S.p.A (Italy)
- Lockheed
Martin Corporation (The U.S.)
- Northrop
Grumman Corporation (The U.S.)
- Raytheon
Company (The U.S.)
- Thales
Group (France)
Regional Analysis:
Presence of Major Manufacturers in North America to Stoke Demand
Among
the regions, North America held the largest market of USD 4.68 billion in 2019
and is expected to gain major global antenna, transducer and radome market
revenue in the forthcoming years. This is ascribable to factors such as high
spending for modernization of military in the U.S. Furthermore, large presence
of established manufacturers providing original equipment in the region will
aid market growth. On the other hand, Asia-Pacific is likely to gain momentum
during the forecast period. This is attributable to factors such as high demand
for surveillance technology owing to increasing infiltration by the terrorists.
Moreover, growing impetus on modernization of military to flex military muscle
in countries such as China and India will bode well for the market growth
between 2020 and 2027.
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Segmentation:
Adoption of Wide Range of Commercial and Military Application to
Spur Demand for Antenna
The
segment antenna (By Component Analysis) is likely to hold the highest market
share owing to high adoption in several commercial and military purpose.
Antennas are useful for enhancing communication, thereby, extensively adopted
in military vehicles and jets to maintain strategic power. Moreover, rapid
growth in air traffic is driving the demand for antennas that will aid the
market growth.
Competitive Landscape:
Product Launches by the Companies to Augur High Demand
In
May 2020, KP Performance Antenna, an Edmonton, Alberta-based company,
introduced two new models of all-directional antennas. According to the
company, the new antennas offer a two-way communication and provide supervisory
control and data acquisition (SCADA). In addition to this, they operate over
the licensed bandwidth frequencies of 800 MHz to 900 MHz, and unlicensed ISM
bands of 902 MHz to 928 MHz effectively. Furthermore, they consist of a
lightweight fiberglass randome and an integral N-Female connector to enable
high-quality communication.
Some of the key industry developments in the Antenna
Transducer and Radome Market Include:
April 2019- The U.K based Cobham plc. (The U.K.)
introduced a newly developed triple-band helix antenna at AUVSI XPONENTIAL 2019
event organized in Chicago. This antenna is mainly designed for counter drones.
The triple-band helix antenna design has been achieved by joining three
antennas in one radome. These antennas can operate on three different
commercial frequency bands, such as 1.6GHz (GPS), 2.4GHz, and 5.8GHz
December 2018- Thales Alenia Space., a joint
venture between Leonardo S.p.A and Thales Group signed a contract with Hanwha
Systems Corp and KAI (Korean Aerospace Industries). Under the contract, Thales
Alenia Space has agreed to produce four radar satellites. These radar
satellites can be used by South Korea Agency for defense development
February 2018- Thales group headquartered in
France announced that it has won an R&D contract from the French
defense procurement agency. According to this contract, the company will
provide an innovative sonar technology solution that has the capability to
integrate with SNLE 3G, France’s future third-generation
nuclear-powered ballistic missile submarine.
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