According to the latest report by IMARC Group, titled " Synthetic Aperture Radar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global synthetic aperture radar market reached a value of US$ 3.42 Billion in 2021. Synthetic aperture radar (SAR) refers to a technology that is generally utilized for collecting data, which is usually mounted over a spacecraft or aircraft. It involves the usage of radio waves, which are transmitted on the target and the echo of each pulse is recorded. It is widely used as a preferred alternative for conventional stationary beam-scanning radars as it provides a finer spatial resolution of the object. As a result, it offers various benefits, including accurate characterization of surface features and topography while offering a high-resolution image in 3D. The rising utilization of SAR systems for monitoring oil spillage and exploration activities across the oil and gas industry is providing a boost to the market growth.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Synthetic Aperture Radar Market Trends:
The global market is primarily driven by the increasing product demand across the defense sector. This is supported by the rising utilization of SAR for monitoring missile sites, battlefield surveillance and weapon guidance. In line with this, the increasing adoption of SAR in the manufacturing of missiles for improving precision is also creating a positive outlook for the market. Moreover, the rising utilization of SAR devices for studying the economic impact of the coronavirus disease (COVID-19) and conducting remote monitoring of healthcare infrastructure and facilities has further propelled the market growth. Along with this, various technological advancements and the widespread integration of high-performance computing systems with SAR are acting as major growth-inducing factors. Furthermore, the increasing adoption of SAR instruments for identifying the differences in surface roughness for crop harvesting across the agriculture industry is positively influencing the market growth. Other factors, including the increasing defense budget, the rising security concerns due to geopolitical conflicts on the global level and extensive research and development (R&D) activities conducted by key players, are also contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.64 Billion in 2027, growing at a CAGR of 11.20%?during 2022-2027.
- On the basis of the component, the market has been segmented into antenna, receiver and transmitter.
- Based on the mode, the market has been bifurcated into single-mode and multi-mode.
- On the basis of the frequency band, the market has been segregated into X, L, C, S, K, Ku and Ka, VHF/UHF and other bands.
- Based on the platform, the market has been classified into airborne and ground.
- On the basis of the application, the market has been categorized into defense and commercial.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players are Airbus SE, ASELSAN A.?., BAE Systems plc, Cobham Limited, General Atomics, Israel Aerospace Industries, L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB and Thales Group.
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