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Cloud gaming is fastest growing segment fueling the growth of Synthetic Aperture Radar Market

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Cloud gaming is fastest growing segment fueling the growth of Synthetic Aperture Radar Market

The global Synthetic Aperture Radar Market is estimated to be valued at US$ 4.69 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Synthetic aperture radar (SAR) is used to create two-dimensional images or three-dimensional reconstructions of objects, such as landscapes etc. SAR uses the motion of the radar antenna over a target region to provide finer spatial resolution than conventional beam-scanning radars. It is mostly used for military and civilian remote sensing applications.

Market key trends:

One of the key trends in the synthetic aperture radar market is the increasing adoption of space-based SAR systems. Space-based SAR systems provide a persistent wide-area surveillance capability with all-weather day-and-night imaging. They have advantages over airborne systems as they cover larger areas with higher resolution and less atmospheric interference. With the miniaturization of electronics, smaller satellites carrying SAR systems are being increasingly used, making space-based solutions more affordable. This is expected to drive the growth of the synthetic aperture radar market during the forecast period.

Segment Analysis

The global synthetic aperture radar market is segmented by frequency into X band, L band, C band, S band, and K/Ku/Ka band. The X band segment dominates the market and accounted for more than 30% share of the global market in 2022. X band synthetic aperture radars are preferred for high-resolution imaging applications due to their short wavelengths. They provide the best spatial resolution among all the bands.

Key Takeaways

Global Synthetic Aperture Radar Market is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing defense spending globally on advanced surveillance technologies.

Regional analysis

North America dominated the synthetic aperture radar market in 2022 and accounted for around 35% of the global market share. The region is expected to continue its dominance during the forecast period. This is attributed to high defense spending and presence of major players in the US. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to increasing investment in defense technologies by emerging economies such as China and India.

Key players

Key players operating in the synthetic aperture radar market are Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), Thales Group (France), L3Harris Technologies, Inc. (US), BAE Systems (UK), Airbus SE (Netherlands), Israel Aerospace Industries Ltd (Israel). The market is moderately consolidated with the top four players accounting for around 55-60% share of the global market. Lockheed Martin dominates the market and has the highest revenue share globally.


Get More Insights on this Topic- https://www.marketwebjournal.com/synthetic-aperture-radar-market-demand-and-forecast-analysis/ 

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