The North America Solid state Radar Market would witness market growth of 3.7% CAGR during the forecast period (2021-2027).
Developing countries have a significant penetration of Solid-State radar devices, particularly in the aviation and weather monitoring industries. In addition, factors such as the increased deployment of unmanned aerial vehicles, rising security concerns, and higher funding in defense equipment are boosting the growth of the solid-state radar market. Moreover, the industry is benefiting from the constant technological advancements, which is leading to the creation of lightweight radars. Military radar systems are in high demand due to strategic partnerships among market players and greater attention on border protection missions.
According to a study conducted by the United States National Transportation Safety Board (NTSB), there were 58,687 general aviation accidents caused by foggy weather between 1982 and 2013. With approximately USD 639 billion spent on defense and military in 2018, the United States is the country with maximum defense budget. As the world's most powerful military facility, the region's radar systems are in high demand for aviation and maritime applications.
Tesla Inc., the pioneer of electric vehicles, has a manufacturing facility in California, United States. Tesla's Model 3 production includes a forward-facing radar system application. Tesla manufactured 61,394 Model 3 vehicles in the fourth quarter of 2018, a figure that is on the rise and is likely to continue in the forecast period. The use of radar in space technology for remote monitoring of the earth from space as well as space shuttles to other planets has increased significantly.
The US market dominated the North America Solid State Radar Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $606.4 million by 2027. The Canada market is estimated to grow at a CAGR of 6% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 5.1% during (2021 - 2027).
Based on Waveform, the market is segmented into Frequency Modulated Continuous Wave Radar and Doppler radar. Based on End User, The market is segmented into Military & Defense, Weather Monitoring, Aviation, Automotive, and Others. Based on Dimension, the market is segmented into 3D, 2D and 4D. Based on Industry, the market is segmented into Non-Commercial and Commercial. Based on Frequency Band, the market is segmented into X-Band, S-Band, L-Band and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Solid State Radar Market is Estimated to reach $2.2 Billion by 2027, at a CAGR of 4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Furuno Electric Co., Ltd., L3Harris Technologies, Inc., Raytheon Technologies Corporation, Saab AB, Honeywell International, Inc., Northrop Grumman Corporation, Thales Group S.A., BAE Systems PLC, Lockheed Martin Corporation, and Leonardo SpA.
By Waveform
By End User
By Dimensions
By Industry
By Frequency Band
By Country
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
