Antenna, Transducer, and Radome Market valued at $ 16.zero billion by 2025
CHICAGO, March 16, 2021 / PRNewswire / – Antenna, Transducers, and Radome Market by Product (Antenna & Transducer, Radome), Platform (Ground, Marine, Air), End-User, Application, Technology (Radar, Communication, Sonar), Frequency, Region, according to a research report – Global Forecast to 2025, “published by MarketsandMarkets ™, the global ATR market size is expected to grow $ 9.1 billion in 2020 to $ 16.0 billion The growth of the market is due to the growing trend of automation in flight control and the increase in defense spending and R&D activities to develop ATR that can withstand harsh conditions and provide long-range capabilities with low power consumption.
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The ATR market includes the main players Raytheon Technologies Corporation (USA), Honeywell International Inc. (USA), L3Harris Technologies Inc. (USA), Lockheed Martin Corporation (USA) and Cobham Plc (UK). These players have spread their business across different countries, including North America, Europe, Asia Pacific, middle East, Africa, and South America. COVID-19 has also had an impact on business. Industry experts believe COVID-19 could impact ATR production and services by 25-30% globally in 2020.
Based on product type, the Antennas and Transducers segment is expected to dominate the Antennas, Transducers, and Radomes market.
Based on the product, the ATR market is divided into Antenna & Transducer and Radome. The market for antennas and transducers, as well as radomes, has grown remarkably since World War I, but the actual transformation of these systems has changed little in terms of technological development.
Based on the technology, the radar segment is expected to dominate the antenna, transducer and radome markets.
Based on the technology, the Antennas, Transducers, and Radomes market is divided into Radar, Communication, and Sonar. These technologies help to recognize, identify or connect different devices and facilitate data exchange. The radar segment is expected to have the largest share of the market in the current scenario. Similarly, the growth in the sonar segment is mainly due to the increased use of antennas in sonar systems, particularly in marine applications.
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The antenna, transducer and radome market in Asia Pacific is expected to grow with the highest CAGR during the forecast period
Due to the geographical location, the market is divided into North America, Europe, Asia Pacific, the middle East, and Latin America. In 2020 North America is estimated to make up the largest share of the antenna, transducer, and radome market. This market in the Asia Pacific The region is expected to grow with the highest CAGR from 2020 to 2025. This growth is mainly due to the increasing fleet size and the modernization of military programs.
Raytheon Technologies Corporation (USA), Honeywell International Inc. (USA), L3Harris Technologies Inc. (USA), Lockheed Martin Corporation (USA) and Cobham Plc (UK) are some of the leading players in the ATR market report.
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