(Aviation-NewsWire.Com, March 19, 2021 ) The report on the ATR market provides a detailed trend analysis from 2016 to 2025. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
The global ATR market size is projected to grow from USD 9.1 billion in 2020 to USD 16.0 billion by 2025, at a CAGR of 11.9% from 2020 to 2025. The growth of the market can be attributed to the growing trend of automation in flight control and increase in defense expenditure and R&D activities to develop ATR, capable of withstanding harsh conditions and providing long-range capabilities at low power consumption.
Based on the end user, defense capture highest market share and is projected to dominate the ATR market during the forecast period. Factors such as increasing threats from terrorism and unconventional warfare worldwide have led to an increase in the demand for new advanced radar and transducers in the defense sector.
Based on frequency band, the ATR market is segmented into HF/UHF/VHF-band, L-band, S-band, C-band, X-band, Ku-band, multi-band, and Ka-band. These bands were arbitrarily code-named with letters for defense security during World War II. They were later adopted by the Institute of Electrical and Electronics Engineers s(IEEE) in the US and the International Telecommunication Union (ITU) worldwide.
North America is estimated to hold the largest share of the global antenna, transducer, and radome market in 2020, followed by Europe, Asia Pacific, the Middle East & Africa, and Latin America. The growth of the North American ATR market can be attributed to the increase in fleet size and modernization programs related to defense transducers. In the Asia Pacific region, countries such as China, Japan, India, and Australia, have been considered for market analysis due to strong air traffic and increased military expenditure. Major factors expected to drive the market in Asia Pacific include high GDP, increased regional tensions, and a rise in demand for commercial airliners.
Key Market Players
Key manufacturers of ATR are based in North America. These players include Lockheed Martin Corporation (US), Raytheon Technologies Corporation (US), Honeywell International Inc. (US), and L3Harris Technologies, Inc. (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: