Market Research Future (MRFR), in its fresh “Radar Transmitter Market” report, states that the global radar transmitter market is likely to expand at nearly 20 % of CAGR in the review period and touch a valuation of about USD 19 billion by 2023. The exponential growth of the worldwide radar transmitter market 2020 market is likely due to increased usage of radar sensors across ever-growing aerospace sector. The increase in the air traffic is demanding for enhanced protection measures. Radar sensors are ideal solution as a preventive measure for collision and understand distance between two aircraft. In addition, radar transmitters are also used for level gauging, and surveillance and security, which is expected to impel the expansion of the radar transmitter market in the foreseeable future.Regional Outlook
Radar Transmitter Power Market in North America is expected to hold the superior position in the global market. Developments in infrastructure and advancements in technology are supporting the early adoption of radar transmitter in the region. In addition, the high production rate of shale-gas and increase in oil and gas extraction activities can propel the regional market. In Europe, the presence of renowned radar transmitter providers can bolster the market expansion. These vendors offer different product that are advantageous to industries. To illustrate, ABB’s MT5000 series guided wave radar transmitters comes with a graphic display that is incorporated with digital electronics module to measure fuel. In APAC, the fast paced expansion of telecommunication, and food and beverage industries, which are high end-user of radar transmitter is likely to surge the Asia Pacific market. Over the forecast period, the market in South America and MEA is expected to exhibit a steady growth owing to the existence of numerous oilfields and gas reservoirs.
Key Players
MRFR identified key players of the global radar transmitter market. They are Lockheed Martin Corporation (US), Emerson Electric Co.(US), Rheinmetall AG (Germany), BAE Systems plc (UK), Saab Group (Sweden), General Dynamics Corporation (US), ABB Limited (Switzerland), Rockwell Collins (US), Siemens AG (Germany), Endress+Hauser Management AG (Switzerland), VEGA Grieshaber KG(Germany), and others. Market players are investing in research and development activities for effective innovations. Hence, this is likely to leverage the global radar transmitter market 2020. Mergers and acquisitions, and strategic partnership among suppliers are resulting in the launch of cost-effective solutions. Thus, the market is expected to benefit from the same
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