Radome Market To Reach USD 2.1 Billion In 2027 | CAGR 4.7% - Forencis Research

Radome Market Size, Share, Trends, Growth, Analysis, Research

Global Radome Market: Key Highlights

  • According to the new market research report “Radome Market by Type (Low Frequency Radomes, Directional Guidance Radomes, Narrowband Radomes, Multiple Frequency Band Radomes, Broadband Radomes and Very Broadband Radomes), by Materials (Fiberglass, Quartz, Graphite and Kevlar), by Application (Military Aircraft, Commercial Aircraft), by Structure (Metal Space Frame), by Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast (2018 to 2027) “the Global Radome Market is estimated & to reach USD 2.1 Billion in 2027 at a CAGR of 4.7% during forecast period 2019-2027.
  • Increasing demand for new aircraft is excepted to increase the demand for the radome market by the latest technology radome in airlines in the forecast period.
  • However, the complexity of radome issues is expected to hinder the growth of the market during the forecast period.

Radome Market

Global Radome Market: Key Market Dynamics

  • Growing demand for quartz fiber advances quartz over the glass fiber and resin Radome are some other major factors expected to boost the growth of the global radome market over the forecast period.
  • However, the complexity of radome issues during structural and manufacturing is expected to hinder the growth of the global radome market.
  • The increase in demand for new aircraft simultaneously generates the demand for the radome market of aircraft in the forecast period.
  • Unmanned aerial vehicles (UAVs) are finding increasing usage in military engagements which will boost the demand for the market.

Global Radome Market: Regional Overview

  • Asia-Pacific

The Asia Pacific region is expected to achieve unprecedented long term growth in aviation. According to The International Air Transport Association (IATA), the Asia-Pacific region will boost the demand from 2015-2035 for the passengers in the market which will lead to an increase in the new aircraft business during forecast years. By 2024 China will have the world's largest market for aviation which would be more than the US. Furthermore, in November 2018 Airlines in the Asia-Pacific took 88 of the 177 commercial airliners delivered business which is a well ahead of European airlines.

  • Europe

According to the report of the International Air Transport Association (IATA) in 2037, Europe will grow by CAGR OF 2.0 % with the total market of 1.9 billion passengers. In the region, an internal flight is accounted for nearly 80% of the total traffic, where arrivals and departures accounted for 19%. In 2040, Europe the regulation and growth would have 16.2 million flights that will more than 53% of 2017 with an average growth of 1.9% per year over 2017-2040. In 2017, the region recorded broad traffic growth which is up to 10.6 million.

Global Radome Market: Key Players Overview

  • General Dynamics Corporation:

General Dynamics Corporation is a global aerospace and defense company that is organized in five different groups aerospace, marine system, information technology, mission systems, and combat system. The company manufacture and design the various type of radar system such as single and dual-band, low reflection radome for advantaging the performances. Furthermore, the multi-band radome provide cross-polarization bias and communication performance across X, Ku, K, and Ka-Bands for SATCOM applications. Furthermore, General Dynamics entered into a strategic agreement with Boeing for offering its wideband nose radome to the F-15 Modernization Program.

  • L3Harris Technologies, Inc.:

L3Harris Technologies, Inc. is a global aerospace and defense for a technology development company which provide the end to end solution to meet the demand for the customers. The company provides advanced commercial technological and defense technological for air, land, cyber domains and space. L3 Communications ESSCO Inc. is a Subsidiary of L3Harris Technologies, Inc. which is  one of the world’s premier designers and manufacturers of ground-based radome, reflectors, and RF composite structures. Furthermore, in 2019 signed a joint venture agreement with Saudi Arabian Military Industries (SAMI) to collaborate on electro-optical and infrared (EO/IR) and special mission systems projects within the Kingdom of Saudi Arabia (KSA).

 

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Rep Id : AnD 053

Published : 2020-01-28