Electronically Scanned Array Market to Grow at 7% CAGR by 2030, Increasing Adoption in Naval Sector to Boost Electronically Scanned Array Market Growth
Research Reports
Dec 19, 2023
Electronically Scanned Array Market Overview
The global electronically scanned array market was valued in 2021 at USD 12.15 billion and will grow at a 7% CAGR by 2030, as per the recent Market Research Future report.
Drivers
Increasing Adoption in Naval Sector to Boost Market Growth
The naval industry is anticipated to see the most encouraging growth in the upcoming years. Naval radars are widely employed to monitor and detect naval activity. Locating offshore patrol vessels, warships, submarines, and other military vessels is the main purpose of naval-based radar systems. Naval radar-based systems are also widely utilized for missile defense and ammo detection.
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Key Players
Eminent industry players profiled in the global electronically scanned array market report include Northrop Grumman (US), Lockheed Martin (US), Leonardo-Finmeccanica (Italy), Saab AB (Sweden), Raytheon (US), RADA Electronic Industries (Israel), Thales Group (France), Israel Aerospace Industries (Israel), Toshiba (Japan), and Defence Research and Development Organization (India), among others.
Opportunities
Advances in Radar Technology to offer Robust Opportunities
Electronics and semiconductor technology is constantly improving, which has improved the cost, effectiveness, and dependability of ESA systems. The market for ESA systems has grown to cover commercial and civic applications in addition to conventional military ones because of advancements like the incorporation of ML & AI algorithms in the radar systems.
Restraints and Challenges
High Development Costs to act as Market Restraint
The high development costs and long-time taken for replacing radar systems may act as market restraints over the forecast period. Besides, the COVID-19 impact may also impede market growth.
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Market Segmentation
The global electronically scanned array market has been bifurcated based on type, range, and end use.
By type, active will lead the market over the forecast period.
By range, long will domineer the market over the forecast period.
By end use, airborne will spearhead the market over the forecast period.
Regional Analysis
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