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| Global Synthetic Aperture Radar (SAR) Market Size |
Synthetic aperture radar is a form of radar that is used for observation of the
Earth's surface. It is an active microwave remote sensing system used to
collect high-resolution images of the Earth's surface and ocean. Synthetic
aperture radar systems can acquire images in all weather conditions, including
rain, snow, and darkness. They have applications in fields like defense,
agriculture, forestry, and oil & gas exploration.
The global
Synthetic Aperture Radar Market is estimated to be valued at US$ 4.69 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
One of the key drivers of growth in the synthetic aperture radar market is
increasing defence spending and demand from the defence sector. Synthetic
aperture radars are widely used in defence for applications like
reconnaissance, missile guidance, airborne early warning systems, air and
marine surveillance, and terrain imaging. Many countries have been witnessing a
rise in defence budgets to strengthen their military capabilities. For
instance, the defense budget of the United States rose from US$ 686 billion in
2020 to US$ 770 billion in 2021. Such increasing defence expenditures is
expected to boost demand for synthetic aperture radars from the defence sector
over the forecast period.
Segment Analysis
The global Synthetic Aperture Radar market is dominated by the Airborne SAR
sub-segment due to its ability to capture high-resolution images for
applications across government, commercial, and defence sectors. Airborne SAR
holds the largest market share as it offers mobility and flexibility in
capturing images from various altitudes to detect and monitor subtle surface
changes accurately.
Key Takeaways
Global
Synthetic Aperture Radar (SAR) Market Size is expected to witness high growth. The global
Synthetic Aperture Radar Market is estimated to be valued at US$ 4.69 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period
2023 to 2030.
Regional
analysis related content comprises North America region is expected to lead the
global Synthetic Aperture Radar market during the forecast period. This is
attributed to the presence of major players and increasing investments by
governments & private organizations in R&D in the region.
Key players related content comprises Key players operating in the Synthetic
Aperture Radar market are DuPont de Nemours, Inc., Roquette Frères, Ashland
Global Holdings Inc., and Innophos Holdings, Inc. Innophos Holdings, Inc. is
focused on expanding its product portfolio and customer base in Europe and Asia
Pacific regions.
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