Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Airport Surveillance Radar Market Overview
Airport surveillance radar refers to a radar system used to identify and display the position of the aircraft in the airspace around airports. Further, advanced airport surveillance radar system consists of primary surveillance radar and secondary surveillance radar. Using airport surveillance radar, air traffic controllers maintain a safe flow of air traffic and prevents collisions.
Market Size and Forecast
Global airport surveillance radar market is projected to grow at a CAGR of 4.8% during the forecast period. In recent years, airport surveillance radar market has witnessed significant growth is anticipated to expand during the forecast period owing to the increasing infrastructure airport construction activity in the developing regions. Moreover, massive growth in tourism across the globe is expected to drive the growth of airport surveillance market in the next few years.
Geographically, North America accounted for the major market share in overall airport surveillance radar market in 2016. High number of airports coupled with massive passenger traffic is expected to drive the growth of the airport surveillance market. U.S. is the major contributor to the growth of the airport surveillance radar market. Further, presence of major manufacturers in the nation is envisioned to strengthen the market of airport surveillance in the nation.
Asia Pacific is projected to witness lucrative growth during the forecast period. Furthermore, Asia Pacific is expected dominate the overall airport surveillance radar market by the end of forecast period. This can be attributed to the unprecedented growth in commercial aviation. Additionally, rising growth of tourism in the region is likely to spur the demand for better global connectivity and airports. As per International Air Transport Association, number of air travels in Asia Pacific is expected to outnumber combined North America and Europe air travels by 2030. Additionally, number of jet fleet in Asia Pacific is projected to reach 16,180 in 2034 from 5,850 in 2014. These factors are anticipated to increase the demand for air traffic control system which further, is likely to supplement the growth of the airport surveillance radar market. Europe airport surveillance market is expected to grow at significant pace over the forecast period. Growth in air transport of passengers, increasing mail & freight transportation are some of the factors which are expected to garner the growth of the Europe surveillance radar market during the forecast period. Additionally, presence of some key manufacturing players in the region is also projected to strengthen the growth of the airport surveillance radar market.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis has segmented global airport surveillance radar market into the following segments:
By Product
By Application
By Region
Global airport surveillance radar market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Increase in global tourism and rising number of airports in developing regions is one of the key factors driving the growth of the airport surveillance radar market. Further, the number of international tourist is expected to exceed 2 Billion by the end of 2030. Additionally, this high growth in passenger traffic and number of airports is anticipated to accelerate the growth of the global airport surveillance radar market.
Apart from this, massive utilization of airport surveillance radar for military airport is spurring the growth of the airport surveillance radar market globally. Subsequently, increase in defense budgets is expected to supplement the growth of the airport surveillance radar market. Furthermore, technological advancements such as integration of satellite navigation system with airport surveillance radar are likely to increase the market size of the airport surveillance radar market.
In contrast, reduction in number of airports in developed regions such as North America and Europe is likely to dampen the growth of the global airport surveillance radar market. For instance, as per Bureau of Transportation Statistics, number of airports in U.S. was estimated to be 20,341 in 2007. However, this number declined to 19,536 in 2016.
Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global airport surveillance radar market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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