Increasing spending on defense sector to foster Synthetic Aperture Radar (SAR) market growth

Synthetic Aperture Radar (SAR) Market
Synthetic Aperture Radar (SAR) Market


Synthetic Aperture Radar (SAR) Market, by product type (Space based SAR and Air based SAR), by application (Aerospace & Defense, Scientific Research, Agriculture, Energy, Financial commodity markets, and Shipping & transportation), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) as highlighted in a new report published by Coherent Market Insights

 

Market Overview:

Synthetic Aperture Radar (SAR) is a high-frequency radio waves instrument that uses an array of radio dishes for generating radio waves for non-stationary monitoring. Synthetic aperture radar is also referred to as Synthetic Aperture Radar (SAR). It is based on the Doppler principle that uses the Doppler effect to generate images of moving sources, such as aircraft and ships. Unlike conventional radar, which uses a series of radio stations to receive signals, synthetic-aperture radio uses a single radio dish for generating high-frequency radio waves that are consistent from one side of the Earth to the other. Such a technique makes use of narrow-bandwidth and low-frequency radio transmissions.

 

Competitive Landscape:

Israel Aerospace Industries (IAI), Airbus Defense and Space, Lockheed Martin, Northrop Grumman, Thales, SSTL, MDA Information Systems, Raytheon, and Sandia National Laboratories among others

 

Key Market Drivers:

The growing application of UAVs for security and countermeasures operations is driving growth of the Synthetic Aperture Radar (SAR) Market. UAVs and UCAVs are gaining traction in the market as they come with the advanced control system is again fostering growth of the market. For instance, in September 2020, ideaForge, the manufacturer of drones for defense, homeland security, and industrial applications, has launched its new drone RYNO, a micro category (<2 kg) survey-grade drone designed and specialized for high accuracy mapping applications.

 

Increasing spending on defense industry to improve the safety of homeland and defense personal is stimulating growth of the market. According to new data published by the Stockholm International Peace Research Institute (SIPRI), total global military expenditure rose to $1981 billion last year, an increase of 2.6 percent in real terms from 2019.

 

Covid-19 Impact Analysis

The Covid-19 pandemic has impacted the market dynamics and supply chain worldwide. Moreover, the revenues have gone down in 2020 and is expected to resume an uptrend gradually from 2021 years. Also, key players are optimizing their operation and strategy to sustain and beat the competition in the market.

 

Key Takeaways:

 

The Synthetic Aperture Radar (SAR) Market is expected to exhibit a CAGR of 6.9 % over the forecast period, owing to the increasing application in the military sector for surveillance and safety purpose. For instance, in July 2021, Grene Robotics’ have developed a 100% indigenous ‘unified, distributed, and wide-area autonomous drone defense dome called ‘Indrajaal’ which can protect a large area of 1000-2000 sq. km per system against threats such as Unmanned Aerial Vehicles (UAVs), incoming weapons, loitering munitions and the like, autonomously.

 

 

North America is expected to witness significant growth in the near future owing to the increased spending in the military sector. According to the Stockholm International Peace Research Institute (SIPRI), in 2020 US military expenditure reached an estimated $778 billion, representing an increase of 4.4 percent over 2019.

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