Radar Warning Receiver Market Overview
The global Radar Warning Receiver Market will grow at a 5% CAGR by 2023, as per the recent Market Research Future report.
Market Drivers
Increasing Use in Commercial Aviation to Boost Market Growth
Radar warning receivers are used in commercial aviation to increase safety by seeing and avoiding possible collision hazards including other aircraft & bad weather. The commercial RWR sector benefits from the rising demand for air travel.
Market Opportunities
Technological Advances to offer Robust Opportunities
These systems are becoming more adept and efficient in identifying and thwarting threats as a result of ongoing improvements in RWR technology, including the incorporation of machine learning, artificial intelligence, and enhanced signal processing techniques.
Market Restraints and Challenges
Budget Constraints to act as Market Restraint
Budget constraints, export restrictions, global competition, integration complexity, cybersecurity concerns, and limited awareness may act as market restraints over the forecast period.
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Market Segmentation
The global radar warning receiver market is bifurcated based on component, fit, and aircraft type.
By aircraft type, the market is bifurcated into rotary wing and fixed wing.
By fit, retro-fit will lead the market over the forecast period.
By component, control, processing & display unit will dominate the market over the forecast period.
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COVID-19 Analysis of Radar Warning Receiver Market
Global supply chains were hampered by the epidemic, which caused delays in the manufacturing and delivery of parts & systems, including RWRs. This could have made it more difficult for defense contractors to satisfy demand. As a result of the epidemic, several defense priorities changed. For instance, funds were transferred to initiatives to combat pandemics and provide healthcare. This could have momentarily slowed down RWR technological investment. Because of how crucial cybersecurity is, there may have been a greater emphasis on creating RWR systems which are resistant to cyber threats after the epidemic.
Regional Analysis
North America to Command Radar Warning Receiver Market
Due to the rising use of RWR in military, homeland security, & commercial activities, North America led the radar warning receiver market in 2017. The area dominates the world market with regards to spending, technical breakthroughs, and RWR systems. The need for radar systems utilized for defense in the US is quite strong. The US, which is also the world’s largest manufacturer of RWR systems, dominates the market in major part. Canada contributed significantly to the growth of the RWR market.
Key Players
Eminent industry players profiled in the global radar warning receiver market report include ASELSAN A.?.(Turkey), BAE Systems (UK), Bharat Electronics Limited (India), Indra (Spain), Israel Aerospace Industries Ltd. (Israel), Leonardo S.p.A (Italy), Lockheed Martin Corporation (US), Raytheon Company (US), Saab AB (Sweden), and Thales Group (France).
Key players have incorporated multiple strategies to stay ahead such as mergers, acquisitions and partnerships, geographic expansions, new product launch and development, and more.
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