Antenna, Transducer and Radome (ATR) Market to Reach USD 16.73 Billion by 2027; Increasing Focus on Military Modernization Globally to Surge Demand: Fortune Business Insights™

Pune, June 11, 2020 (GLOBE NEWSWIRE) — The global antenna, transducer and radome (ATR) market size is likely to exhibit a CAGR of 10.2% between 2020 and 2027. This is ascribable to factors such as rising military budgets and total modernization of military for the countries across the globe. Fortune Business Insights, publish this information in its latest report, titled “Antenna, Transducer and Radome (ATR) Market Size, Share and Covid-19 Impact 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.” The report observes that the market was worth USD 11.13 Billion in 2019 and is likely to reach USD 16.73 by 2027.
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What does the Market Report Offer?The market report offers an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.Drivers and Restraints:Increasing Military Budgets Worldwide to Drive the MarketAccording 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.Segmentation:Adoption of Wide Range of Commercial and Military Application to Spur Demand for AntennaThe 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.Regional Analysis:Presence of Major Manufacturers in North America to Stoke DemandAmong 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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Competitive Landscape:Product Launches by the Companies to Augur High DemandIn 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.List of the key companies operating in the Antenna, Transducer and Radome (ATR) 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)IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Industry Developments –Contracts & Agreements, Mergers, Acquisitions and PartnershipsLatest technological AdvancementsPorters Five Forces AnalysisSupply Chain AnalysisQualitative InsightsImpact of COVID-19 on the Antenna, Transducer and Radome (ATR) MarketSupply Chain ChallengesSteps Taken by the Industry/Government/Companies to Overcome the ImpactKey Developments in the Industry in Response to COVID-19Potential Opportunities due to COVID-19 OutbreakTOC Continued…!!!
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