The Worldwide Antenna, Transducer, and Radome Industry is Expected to Reach $16 Billion by 2025 at a CAGR of 11.9% from 2020 – ResearchAndMarkets.com | Financial Buzz

The Worldwide Antenna, Transducer, and Radome Industry is Expected to Reach $16 Billion by 2025 at a CAGR of 11.9% from 2020 – ResearchAndMarkets.com

The “Antenna, Transducer, and Radome Market by Product (Antenna & Transducer, Radome), Platform (Ground, Naval, Airborne), End User, Application, Technology (Radar, Communication, Sonar), Frequency, Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The global ATR market size is projected to grow from USD 9.1 billion in 2020 to USD 16.0 billion by 2025, at a CAGR of 11.9% from 2020 to 2025.

The growth of the market can be attributed to the growing trend of automation in flight control and increase in defense expenditure and R&D activities to develop ATR, capable of withstanding harsh conditions and providing long-range capabilities at low power consumption.

The ATR market includes major players such as Raytheon Technologies Corporation (US), Honeywell International Inc. (US), L3Harris Technologies Inc. (US), Lockheed Martin Corporation (US), and Cobham Plc (UK) among others. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect ATR production and services by 25-30% globally in 2020.

Ground: The largest market share segment of the ATR market, by platform

Based on platform, the ATR market is segmented into airborne, ground, and naval platform. Ground platform is the platform segment contributing the largest share of the ATR market. Increasing demand for enhanced and optimized communication, navigation, and surveillance across all platforms is driving the antenna, transducer, and radome market. The naval segment of the antenna, transducer, and radome market is projected to grow at the highest CAGR during the forecast period, owing to an increase in demand for unmanned underwater vehicles and upgrades in military vessels, which, in turn, results in an increase in the demand for antennas and transponders.

Defense: largest market share segment of the ATR market, by end user

Based on end user, the ATR market is segmented into commercial and defense. The defense segment is the largest segment of the ATR market compared to the commercial segment. The market growth is attributed to the high volume of antennas, transducers, and radomes used in defense platforms.

Asia Pacific: The fastest-growing region in the ATR market.

Asia Pacific is projected to be the highest CAGR rate for the ATR market during the forecast period. Countries in the Asia Pacific region are undergoing rapid development and upgrading the capabilities of aircraft systems, which are presenting opportunities for manufacturers of antennas, transducers, and radomes to enhance their business in the region. A rise in demand for low-cost carriers (LCCs) is one of the factors driving the growth of the ATR market in the Asia Pacific.

Market Dynamics

Drivers

  • Increasing Aerospace Modernization Programs
  • Increasing Demand for Military Uavs
  • Demand for Technologically Advanced ATR for Next-Generation Aircraft
  • Significance of Radomes in Warfare

Restraints

  • Long Duration of Product Certification

Opportunities

  • Emergence of Aircraft Manufacturers in Asia-Pacific and Latin America
  • Rising Popularity of Evtol Aircraft
  • New Composites Developed to Improve Radome Properties

Challenges

  • High Manufacturing Cost and Designing Constraints
  • Maintenance of Radomes
  • Economic Challenges due to COVID-19
  • Reduced Global Demand for Maintenance, Repair, and Overhaul (Mro) due to COVID-19

Companies Mentioned

  • Antcom
  • Astronics
  • Bae Systems plc.
  • Cobham plc
  • Communications & Power Industries LLC
  • Comtech Telecommunications
  • Delta G
  • FDS Italy Srl
  • Flir Systems (Raymarine)
  • General Dynamics
  • Harbin Topfrp Composite Co., Ltd (Htc)
  • Honeywell International Inc.
  • HR Smith Group of Companies
  • Jenoptik
  • Kaman Composites
  • Kelvin Hughes
  • Kitsap Composites
  • Kongsberg Gruppen
  • L3Harris Technologies, Inc.
  • Lockheed Martin Corporation
  • Nordam
  • Northrop Grumman Corporation
  • Pacific Radomes Inc.
  • Rami
  • Raytheon Technology Corporation
  • Rohde & Schwarz
  • Royal DSM
  • Royal Engineered Composites
  • Saint-Gobain
  • Starwin Industries
  • Thales Group
  • The Boeing Company
  • Toray Advanced Composites
  • Verdant Telemetry & Antenna Systems

For more information about this report visit https://www.researchandmarkets.com/r/qd9nc8

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