Market Size of 3D Radar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.69 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
3D Radar Market Analysis
The 3D radar market was valued at USD 926.19 million in 2020 and is expected to reach USD 2586.42 million by 2026, recording a CAGR of 18.69%, during the forecast period of 2021-2026. Trends in miniaturization of 3D radars are expected to offer lucrative opportunities for the market.
- Further, according to the International Air Transport Association, of the 316 accidents that occurred during 2014-2018, 31% may have been prevented by improving the regulatory oversight of the operator's state. Air traffic management (ATM) becomes of critical importance for maintaining safe and collision-free operation and for smooth operations 3D radar is the long-term solution, thus fueling the growth of the use of 3D radar systems.
- Moreover, the spending in the military warfare systems is expected to complement the market opportunity for the 3D radar systems, supporting infrastructure for detecting small flying or trespassing objects.
- However, high installation cost and skilled expertise are required for operating and maintaining the system are some factors that might hinder the growth of 3D radar market.
