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)
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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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.
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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