Radar Link Market Top Manufacture, Growth, Share Report, Forecast by 2029
The global radar link market size was valued at USD 1.55 billion in 2021. The market is expected to grow from USD 1.66 billion in 2022 to USD 2.73 billion by 2029, exhibiting a CAGR of 7.39% during the forecast period. The rising adoption of lightweight and compact hardware components and technological developments is estimated to foster the radar link industry’s growth. Fortune Business Insights™ mentions this information in its report titled “Radar Link Market, 2022-2029.”
Russia-Ukraine War Impact
Strong Adoption of Electronic Warfare Systems to Foster Market Progress
The Russia-Ukraine war had a positive impact on this industry due to the increasing adoption of electronic warfare. Electronic warfare has enhanced defense spending during the Russia-Ukraine dispute. For example, Russian electronic warfare equipment’s deployment in Syria in 2014 accelerated research and development investments. Further, India and China have enhanced their radar industry defense budgets to develop effective communication solutions. These factors may boost the industry’s progress during the Russia-Ukraine War.
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Electronic Segment to Dominate Owing to Robust Adoption of Radar Systems in the Defense Industry
By link type, the market is classified into electronic links & optical links. The rising demand for radar systems in the defense sector is expected to boost segmental growth.
Antenna Segment to Dominate Backed by its Increasing Adoption for Military and Commercial Applications
Based on component, the market is classified into antenna, diplexer, transmitter, phase lock loop, receiver, processor, and others. The antenna segment is anticipated to dominate due to its increasing adoption in commercial and military applications.
Naval Segment to Lead Owing to Expansion of Naval Fleet
As per application, the market is categorized into airborne, naval, space, and land. The naval segment is expected to lead due to expansions of naval fleets.
Regionally, the market is grouped into North America, Europe, Asia Pacific, and the rest of the world.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Rising Disputes Among Neighboring Countries to Foster Market Growth
Radar link is used in the defense sector to detect land, sea, and air threats. It uses optical fibers to offer accurate and efficient signals to users. Rising land disputes among neighboring countries may elevate the product adoption. Further, the rising cross-border conflicts among nations are expected to increase defense budget spending. Moreover, the increasing demand for radar links to enhance security and safety is expected to boost sales. Also, rising fiber optic usage trends for efficient radar sensing software development may foster sales. Additionally, increasing disputes among neighboring countries may boost the radar link market growth.
However, the complex installation and maintenance of fiber optic is estimated to hinder market growth.
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Strong Investment in Advanced Radar System Procurement to Facilitate Growth in North America
The market in North America stood at USD 0.60 billion in 2021 and is expected to gain a huge portion of the global radar link market share in the coming years. North America is projected to dominate due to strong investments in procuring advanced radar systems. Furthermore, the presence of numerous software and hardware developers is likely to fuel market growth.
In Asia Pacific, strong defense expenditure from India, South Korea, and China may elevate radar link adoption. These factors are likely to elevate market progress in the region.
In Europe, numerous key players such as TE Connectivity., Radiall, and others are expected to foster market growth.
Major Players Deploy Acquisitions to Expand their Market Presence
The prominent companies operating in the market deploy acquisition strategies to expand their market presence. For example, Amphenol Corporation acquired MTS Systems Corporation (“MTS”) in April 2021. This strategy may allow major players to expand their market presence. Furthermore, major companies deploy research and development, mergers, partnerships, innovations, and industrial automation to boost their market position and achieve organizational goals.
Key Industry Development
- March 2020- Carlisle Companies Inc. announced its novel LITEﬂight EP product range that offers several benefits and performance of its predecessors.
List of Key Players Profiled in the Report
- AFL (U.S.)
- Amphenol Corporation (U.S.)
- Carlisle Companies Inc. (U.S.)
- Elbit Systems (Israel)
- II-VI Incorporated (U.S.)
- Ofs Fitel, LLC (U.S.)
- Optical Cable Corporation (U.S.)
- Radiall (France)
- TE Connectivity (Switzerland)
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