BANGALORE, India, March 3, 2022 /PRNewswire/ -- Radome Market is segmented By Type - Shell Structure, Spherical Structure, Others, By Application - Airborne Radome, Ground-Based Radome, Shipboard Radome. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under theHeavy Machinery Category.
The global Radome market size is estimated to be worth USD 1424.6 million in 2022 and is forecast to be a readjusted size of USD 2350 million by 2028 with a CAGR of 8.7% during the review period.
Major factors driving the growth of the radome market are
The radome market is expected to expand due to the rising demand for radomes in aircraft. Furthermore, advancements in composite materials technology for Radome structure, a focus on developing compact radomes for UAV platforms, demand for technologically advanced radome systems for next-generation aircraft, and the importance of radomes in warfare are all driving the radome market forward.
The equipment's maintenance and operating costs are reduced by using a radome. It also extends the life of components and equipment, allowing the radar to operate in all types of weather. This factor is expected to further propel the radome market growth.
Radomes are important for protecting radar from environmental factors such as rain, snow, strong winds, and UV light, which is expected to drive global market growth.
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TRENDS INFLUENCING THE GROWTH OF THE RADOME MARKET
Air travel has increased significantly over the years as a large portion of the population with high disposable income prefers airways as a mode of transportation, increasing the demand for airline carriers while also increasing the demand for aircraft radomes. Because the entire structure of the aircraft, including the radar system, is expensive, the radome is critical for security, safety, and efficient operation. As a result, this is another factor that will help the aircraft radome market grow. The radar system's maintenance costs are reduced by the aircraft radome because the antenna is protected during travel, allowing for seamless communication.
The need to protect antennas from the weather is expected to drive the growth of the radome market. Large radar antennas are usually covered with radomes to protect them from harsh weather and to allow them to operate continuously and precisely without sacrificing performance. Because of their large size, the radomes are made up of many panels connected by metallic or dielectric beams.
Furthermore, several sensitive antennas mounted on a surveillance ship are protected by radomes. This in turn is expected to drive the radome market growth.
The increased use of advanced military unmanned aerial vehicles (UAVs) to gain an advantage over enemy forces, as well as rising defense spending in various countries. Industry players are conducting research and development activities aimed at improving the radomes' ability to perform in all weather conditions and provide support for commercial and defense operations such as long-range surveillance, search and rescue, navigation, and communications, among others. This factor is expected to further fuel the radome market growth.
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RADOME MARKET SHARE ANALYSIS
Based on region, North America is the most lucrative. Significant investments in R&D activities by key players for the development of advanced radome solutions, as well as increased demand for advanced radome systems, are expected to drive the radome market in this region forward.
Based on application, Airborne radome is the most lucrative. In the coming years, UAV, a relatively small segment, is expected to generate impressive growth opportunities for market participants, primarily governed by the United States.
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TOP COMPANIES IN THE RADOME MARKET
The major players areGeneral Dynamics, Saint-Gobain, Cobham (Meggitt), Nordam, ATK, L-3 ESSCO, Harris, Raytheon, Kelvin Hughes, Royal Engineered Composites, Infinite Technologies, CPI, Leonardo, Jenoptik, HTC, AVIC etc. Top 3 companies held around 30% market share.
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Radome Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Radome Market By Company
- General Dynamics
- Saint-Gobain
- Cobham (Meggitt)
- Nordam
- ATK
- L-3 ESSCO
- Harris
- Raytheon
- Kelvin Hughes
- Royal Engineered Composites
- Infinite Technologies
- CPI
- Leonardo
- Jenoptik
- HTC
- AVIC
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SIMILAR REPORTS
- The global Aerospace Radome market size is estimated to be worth USD 359.9 million in 2022 and is forecast to be a readjusted size of USD 405.3 million by 2028 with a CAGR of 2.0% during the review period.
- The global Antenna, Transducer and Radome market size is estimated to be worth USD 11520 million in 2022 and is forecast to be a readjusted size of USD 20860 million by 2028 with a CAGR of 10.4% during the review period.
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