PUBLISHER: The Business Research Company | PRODUCT CODE: 1425228
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425228
Antenna, Transducer, and Radome Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on antenna, transducer, and radome market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for antenna, transducer, and radome? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The antenna, transducer, and radome market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
An antenna serves as a device that transforms electrical energy into electromagnetic waves and vice versa. Conversely, a radome acts as a protective enclosure for radio antennas, shielding them from environmental elements like snow and rain. In the context of radio communication, the antenna functions as a transducer, converting electrical energy into electromagnetic waves. Radomes play a crucial role in safeguarding antennas within radio communication systems.
Within the antenna, transducer, and radome market, the primary product types are antennas, transducers, and radomes. Transducers, as devices converting electrical energy to electromagnetic waves and vice versa, are integral components in radio communication systems. Antennas, which act as transducers in radio communication, are vital for signal transmission and reception. These technologies find application across various platforms, including airborne, ground, and naval, encompassing functionalities such as communication, radar, and sonar. The market spans both commercial and defense sectors.\
The antenna, transducer, and radome market research report is one of a series of new reports from The Business Research Company that provides antenna, transducer, and radome market statistics, including antenna, transducer, and radome industry global market size, regional shares, competitors with a antenna, transducer, and radome market share, detailed antenna, transducer, and radome market segments, market trends and opportunities, and any further data you may need to thrive in the antenna, transducer, and radome industry. This antenna, transducer, and radome market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The antenna, transducer, and radome market size has grown strongly in recent years. It will grow from $11.49 billion in 2023 to $12.44 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the historical period can be attributed to the expansion of telecommunications, advancements in radar systems, the proliferation of wireless connectivity, the development of satellite communication, the evolution of consumer electronics, and progress in the development of medical imaging equipment.
The antenna, transducer, and radome market size is expected to see strong growth in the next few years. It will grow to $16.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be attributed to the emergence of smart cities, advancements in space exploration and satellite constellations, upgrades in aviation communication, the expansion of renewable energy infrastructure, progress in automotive connectivity, and the development of next-generation radar systems. Key trends expected in the forecast period include the integration of antennas in smart devices, a surge in automotive antenna technologies, the use of multiple-input multiple-output (MIMO) antennas, the rise of satellite communication antennas, advancements in radar technologies, and a growing demand for 3D printed antennas and radomes.
Rising defense spending is anticipated to drive the growth of the antenna, transducer, and radome market in the foreseeable future. Defense expenditure, which encompasses financial investments in military resources and related equipment, contributes significantly to the procurement of antenna, transducer, and radome technologies. These technologies are essential components utilized in various defense systems such as aircraft, ships, submarines, missiles, and their respective components. For example, the Stockholm International Peace Research Institute reported a global military expenditure increase of 0.7% in 2021, reaching $2,113 billion, indicating a direct correlation between defense spending and the growth of the antenna, transducer, and radome market.
The proliferation of Internet of Things (IoT)-connected devices is poised to propel the expansion of the antenna, transducer, and radome market. IoT-linked devices, which encompass a range of wireless-connecting gadgets transmitting data, heavily rely on antennas for efficient communication. These components play a pivotal role in ensuring reliable wireless connectivity, thereby facilitating seamless data transmission within IoT networks. For instance, Ericsson's report in November 2022 highlighted that broadband IoT connections, predominantly facilitated by 4G and 5G networks, reached 1.3 billion connections. This surge in IoT connectivity is a driving force behind the growth of the antenna, transducer, and radome market.
Innovative advancements in radome designs constitute a notable trend gaining traction within the antenna, transducer, and radome market. Continuous research and development in radome technology continually introduce novel designs that offer improved functionalities and convenience. For instance, in November 2021, Rohde & Schwarz GmbH & Co. KG introduced the R&S QAR50, a cutting-edge radome tester tailored for measuring radomes and bumpers during production. This innovative radome design delivers precise and reproducible outcomes, ensuring swift measurement processes with an appealing performance ratio. Additionally, its highly modular software concept allows adaptability to individual requirements, signifying an evolution in radome design technology.
Leading companies in the antenna, transducer, and radome market are leveraging innovation by developing wireless communications antennas to expand their customer reach, drive sales, and boost revenue. A wireless communications antenna serves as a specialized transducer that converts electrical signals into electromagnetic waves, enabling the wireless transmission or reception of data between electronic devices through radio frequency signals. For instance, pureLiFi introduced the Light Antenna ONE in February 2023, a groundbreaking antenna designed with compact dimensions smaller than a US dime. This pioneering innovation aims to accelerate the widespread adoption of LiFi technology in connected devices and smartphones. Additionally, the module aligns with the anticipated IEEE 802.11bb Light Communication standard, currently in the final stages of ratification.
In May 2022, Communications & Power Industries (CPI), a prominent aerospace manufacturer specializing in sitcom and radar products, completed the acquisition of AdamWorks for an undisclosed sum. This strategic acquisition aims to reinforce CPI's radome business by expanding its range of airborne products and incorporating new product lines. AdamWorks LLC, based in the United States, is recognized for its expertise in designing and manufacturing pods, radomes, and fairings catering to both manned and unmanned defense applications.
Major companies operating in the antenna, transducer, and radome market report are L3Harris Technologies Inc., Cobham Limited, Raytheon Technologies, Lockheed Martin Corporation, General Dynamics Mission Systems Inc., Northrop Grumman Corporation, Honeywell International Inc., Astronics Corporation, BAE Systems, Thales Group, The NORDAM group, CPI International Inc., Pacific Radomes Inc., Airbus, Harbin Topfrp Composite Co. Ltd., Saab Group., Kratos Defense & Security Solutions Inc., Qorvo Inc., Esterline Technologies Corporation, Terma A/S, RADA Electronic Industries Ltd., Comtech Telecommunications Corp., Rohde & Schwarz GmbH & Co. KG, Diehl Defence., Cobham Advanced Electronic Solutions, Ultra Electronics Holdings PLC, Mercury Systems Inc., Antenna Products Corporation, Rantec Microwave Systems, TCI International Inc.
North America was the largest region in the antenna, transducer, and radome market in 2023. Asia-Pacific is expected to be the fastest-growing region in the antenna, transducer, and radome market report during the forecast period. The regions covered in the antenna, transducer, and radome market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the antenna, transducer, and radome market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The antenna, transducer and radome market consists of sales of isotropic, cosine, cardioid, and gaussian for scalar fields and dipole short dipole, crossed-dipole, and NR-element antennas. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.