Market Trends of 3D Radar Industry
This section covers the major market trends shaping the 3D Radar Market according to our research experts:
Airborne 3D Radar is Expected to Witness Highest growth
- 3D radar systems are also extensively used in small unmanned aircraft systems (UASs). Those aircraft are widely used for surveillance operations and advanced military surveys. The demand is further augmented, owing to the additional capabilities of the technology, as it enabled surface target detection.
- Increasing research and development budget for unmanned aerial vehicles is one of the prominent drivers that accelerate the growth of the airborne 3D Radar market. According to the Teal Group Corporation study findings, the R&D UAV budget globally (excluding the USA) is projected to amount to about USD 1550 million in 2023 while in 2018, it was USD 910 million only. Such focused research and development for UAVs are expected in the market for the 3D radar system as well.
- For instance, in September 2019, Observation Without Limits (OWL) announced the GroundAware GA3360 surveillance sensor system. It is a mid-range 3d radar that enabled enable simultaneous detection, tracking classification and response to threats on the ground and in low-altitude airspace caused, including humans, animals, ground vehicles, aircraft, and Class 1 drones. Thus, such new product launches are expected to boost the market demand for 3d radar system.
- Moreover, in December 2018, The Lithuanian Defense Ministry said that two 3D radars started conducting air surveillance tasks from control posts in Southern and Western Lithuania and are expected to reach full operational capacity by end of 2019 and is expected to drive the airborne 3D radar market.
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Asia- Pacific to Witness Fastest Growth
- The Asia-Pacific region is expected to witness the fastest growth owing to the increase in sea-crimes and the adoption of marine transport of goods in the Indian Ocean and the Arabian Sea. The benefits associated with 3D radar such as to be able to work in adverse conditions like rain, fog, and dust and is able to cover long-range as well as close distance is further boosting the market growth in the region.
- Further, border tensions among the neighboring nations in the region are expected to further boost the would further boost the market growth. Moreover, increasing the defense budget among the various countries such as India and China has led to an increase in research and development in 3D radar technologies by different vendors. These vendors are trying to expand their geographical presence by enhancing their product portfolio according to country requirements.
- For instance, in March 2019, Tata Power SED signed a deal with the Ministry of Defence (India) to supply 23 ship-borne 3D air surveillance radars to the Indian Navy over the next 10 years. The contract has been executed by Tata Power SED as the prime contractor with foreign OEM (Original Equipment Manufacturer) partner Indra Sistemas, Spain. These factors are expected to drive the market for 3D radar market in the Asia-Pacific region.
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