The market is expected to cross US$ 7.28 billion mark in 2022 and is projected to hit US$ 13.10 billion by 2030, recording a CAGR of 7.6% during the forecast period.
The latest Electronically Scanned Array Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as most wide-ranging documentation that comprises all the aspects of the evolving Smart home market.
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Key Players:
- Thales Group
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies
- Leonardo S.p.A.
In this report, the market has been segmented based on:
- Type
- Active
- Passive
- Platform:
- Land
- Marine
- Airborne
- Frequency Band
- Single Frequency
- Multifrequency
- Array Geometry
- Planar Array
- Linear Array
- Frequency Scanning Array
- Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Electronically scanned array market has been significantly growing due to the rise in radar upgradation contracts across the globe
Military forces across both developed and developing nations are increasing their investment in upgrading their defense systems, vehicles, aircraft, and vessels. This is increasing the demand for advanced antenna technology for enhancing the performance of tracking, surveillance, and navigation systems. These factors are increasing the demand for electronically scanned array, thereby contributing to the growth of the global electronically scanned array market. For instance, in 2021, the Royal Air Force of UK, awarded a contract to Leonardo S.p.A. and BAE Systems upgrade their Typhoon jets with their ECRS Mk2 AESA radars.
The active segment accounted for a significant share in the global electronically scanned array market. This growth is attributed by the rising adoption of AESA technology for various defense vehicles, vessels, and aircraft. For instance, Leonardo S.p.A. in January 2022 received a contract from the German government worth US$ 298 million to develop AESA radar for Eurofighters along with Hensoldt AG.
The research report provides deep insights into the market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of Electronically Scanned Array Market during the forecast period, i.e., 2022–2030. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
The research provides answers to the following key questions:
- What is the estimated growth rate of the market for the forecast period 2022–2030? What will be the market size during the estimated period?
- What are the key driving forces responsible for shaping the fate of the Electronically Scanned Array Market during the forecast period?
- Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Smart home market?
- What are the prominent market trends influencing the development of the Electronically Scanned Array Market across different regions?
- What are the major threats and challenges likely to act as a barrier in the growth of the Smart home market?
- What are the major opportunities the market leaders can rely on to gain success and profitability?
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart home market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Electronically Scanned Array Market segments and regions.
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