PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1266662
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1266662
Global Coherent Radar Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Coherent Radar uses a reliable oscillator or reference signal as the source to compare the phase or frequency of a target echo. Natural objects with relatively stable phases or frequencies include trees and islands. Moving objects, such as ships and aircraft, produce echoes that differ from the steady source. These fluctuations can be used to spot moving targets, gauge their speed in relation to the radar, or learn more about the target, such as what kind of jet engine it is running on. The increasing defense spending as well as growing concern over cross-border security are the key factors driving the market growth.
Over the years major countries in the world are increasing their spending in defense sector for the advancement of the security forces, hence this factor is positively influencing the market growth. For instance - as per Stockholm International Peace Research Institute (SIPRI) estimates - in 2020, the global military expenditure was estimated at USD 1981 billion, and this amount further reached USD 2113 billion in 2021. Furthermore, in 2020, the United States of America spent around USD 801 billion on military expenditure and accounted for around 38% of the global military expenditure followed by China, which spent USD 293.4 billion and made up nearly 14% of global military spending. Also, rising demand for advanced radar systems and technological advancement in radar technology would create opportunities for the market. However, the high Cost of Coherent Radar systems coupled with high maintenance and repair costs hinder the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Coherent 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 spending on military advancements and rising presence of key market players from leading defence system manufacturers in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising FDI limit in defence sector in the region. For instance, in 2020, the government of India announced increasing the foreign direct investment (FDI) limit from 49 per cent to 74 per cent under the automatic route.
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.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable