$2.5+ Billion Worldwide Radome Industry to 2031 - Increasing Demand for New Aircraft Owing to the Growing Number of Air Passengers Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 29, 2022--
The “Radome Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global radome market.
The global radome market is expected to grow from $1.45 billion in 2021 to $1.66 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The radome market is expected to grow to $2.54 billion in 2026 at a CAGR of 11.2%.
- Northrop Grumman
- General Dynamics Mission Systems Inc.
- Saint-Gobain Performance Plastics
- Raytheon Technologies
- Meggitt plc.
- Airbus Se
- Facc AG
- Cpi International Inc.
- Jenoptik AG
- the Nordam Group LLC
- Royal Dsm
- Tencate Advanced Composites
- Royal Engineered Composites
- Infinite Technologies Radomes
- Composite Structures Inc.
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The radome market consists of sales of the radome by entities (organizations, sole traders, and partnerships) that protect radar from environmental factors such as strong wind, snow, rain, and UV light and prolong the lifespan of components. A radome is an electronic antenna enclosure.
It is constructed of a material that will minimally attenuate the electromagnetic signal transmitted or received by the antenna. These enclosures are being made of either rigid self-supporting materials or air-inflated flexible fabrics. The radome is used to enclose radar systems and satellite communications antennas.
The main types in radome are shell structure and spherical structure. The shell structure radome refers to a thin, curved plate structure shaped to transmit applied forces through compressive, tensile, and shear stresses of the surface. The various types of offerings include radome body, accessories, and services and are used in shipboard radome, ground-based radome, and airborne radome applications.
North America was the largest region in the radome market in 2021. The regions covered in the radome market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing demand for new aircraft owing to the growing number of air passengers is contributing to the growth of the radome market. An aircraft is any machine or vehicle designed to travel through the air by buoyancy of air on its surfaces. The increasing production of new aircraft to meet the demand requires the installation of radome to protect radar from environmental factors such as strong wind, snow, rain, and UV light and prolong the lifespan, thereby promoting the production of the radome.
For instance, according to India Brand Equity Foundation, by 2027 the number of airplanes is expected to reach 1,100 planes due to an increase in demand in the sector. Therefore, the increasing demand for new aircraft owing to the growing number of air passengers will drive the growth of the radome market.
Strategic collaborations and partnerships are the key trends gaining popularity in the radome market. Major players operating in the market are partnering and collaborating to develop a strong product portfolio and offer innovative products. For instance, in July 2021, RENK Group, a German industrial company acquired L3Harris for a deal of $400m amount.
This acquisition enables the RENK group to reinforce its mission of supporting the U.S. Army and its allies. L3Harris is a US-based company that manufactures naval shipboard radomes, airborne radomes, and submarine radomes.
Also, in November 2020, Meggitt PLC, a UK-based aerospace company partnered with BAE Systems for a deal of $5.71 million amount. This partnership enables advanced radar technology in the Royal Air Force’s Typhoon fighter jet. BAE Systems is a US-based company specializing in the design and manufacture of composite radomes.
In November 2021, Communications & Power Industries, a US-based electronic component manufacturing company acquired L3Harris ESSCO business for an undisclosed amount.
Through this acquisition CPI’s high-performance, low-loss composite material-based aerial and shipboard radomes will be supplemented by ESSCO’s radio-frequency ground structures and innovative alternative materials. L3Harris is a US-based company that manufactures naval shipboard radomes, airborne radomes, and submarine radomes.
The countries covered in the radome market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
For more information about this report visit https://www.researchandmarkets.com/r/4ue0h7
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SOURCE: Research and Markets
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PUB: 12/29/2022 05:40 AM/DISC: 12/29/2022 05:40 AM