Synthetic aperture radar market to hit double digit growth

September 29, 2017 // By Jean-Pierre Joosting
RnRMarketResearch predicts that the synthetic aperture radar market is forecast to reach $4.21 billion by 2022 from $2.41 billion in 2017 at a CAGR of 11.75 percent over the 2017 to 2022 period.

The market is being driven by the growing demand for technologies providing situational awareness, increasing deployment of space-based radars, and geopolitical instabilities in the Asia Pacific and the Middle East regions are fueling the demand for radars for airborne and maritime surveillance applications.

According to the market research firm, North America is estimated to account for the largest share of the synthetic aperture radar market in 2017 while the Asia Pacific synthetic aperture radar market is projected to grow at the highest CAGR during the forecast period. Major factors that are expected to drive the North America synthetic aperture radar market include an increase in the demand for surveillance systems and radars since the US military is in the process of replacing its legacy systems of more than three decades with advanced synthetic aperture radars.

Countries in the Asia Pacific region are upgrading their military capabilities through technological developments in the field of synthetic aperture radars. It serves as an opportunity for synthetic aperture radar manufacturers to enhance their businesses in the Asia Pacific region.

Based on platform, the airborne segment is estimated to account for the largest share of the synthetic aperture radar market in 2017. The growth of this segment can be attributed to the rise in the use of airborne synthetic aperture radars in the aerospace industry. Civil as well as military aircraft are being equipped with synthetic aperture radars. These radars provide unique information to resolve challenges such as climate change, resource monitoring, disaster management, environmental monitoring, and so on.

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