The global short range radar system market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The short-range radar system is widely applicable in the automotive sector. It is a radar system that operates the surrounding of a car when in motion. The detection and recognition of objects mainly obstacles on road including walls, cars, barriers, and pedestrians among others is the major application of a short-range radar system to maintain safety and precautionary measures while traveling in a vehicle. CW radar system and pulsed radar system are the two most dominant types of short-range radar systems.
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A short-range radar system is mainly built up with components including the antenna unit that radiates waves, a transceivers unit that generates waves and processed the signals, and processing units that process the signals from the radar system and external devices. The rising demand for efficient radar systems with efficient antennas, transceivers, processing units to track and detect the obstacles around the vehicle is anticipated to create ample growth opportunities for the short-range radar systems in the global market. Additionally, the increasing adoption of short-range radar systems among various industrial verticals for speed monitoring, weather forecasting, collision avoidance, area and distance monitoring, air-traffic control, object recognition tracking, and speed enforcement is a key factor that is expected to support the growth of the global short-range radar system market during the forecast period.
Additionally, the key players present in the global short-range radar system market include Lockheed Martin, Rockwell Collins, BAE Systems plc, and others adopted various strategies that include product launches, and mergers & acquisitions, among others to remain competitive in the market. For instance, in June 2020, Longbow LLC, a joint venture between Northrop Grumman and Lockheed Martin, announced the launch of the 500th APG-78 LONGBOW Fire Control Radar for AH-64 Apache helicopter. The APG-78 LONGBOW FCR is designed with efficient features to automatically detect the target site, classification, location, and prioritization that enable multi-target, rapid detection solutions even in harsh weather conditions.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Competitive Landscape- Lockheed Martin, Rockwell Collins, BAE Systems plc, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Short Range Radar System Market Report Segmentation
By Type
- CW Radar
- Pulsed Radar
By Application
- Defense
- Commercial
- Others
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Article source: https://article-realm.com/article/Business/68977-Short-Range-Radar-System-Market-Revenue-Regional-Outlook-Up-To-2031.html
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