Radar Simulator Market Is Estimated To Reach USD 24 Billion By 2028 It Is Projected To Grow at a CAGR Of 5% From 2022 To 2028.
Radar Simulator Market Is Estimated To Reach USD 24 Billion By 2028 It Is Projected To Grow at a CAGR Of 6% From 2022 To 2028.
Radar simulators are integrated software and hardware. Hardware simulates the control room of naval ship, aircraft, and ground-based radar stations. Software solutions are primarily installed on computer systems to optimize the use of the hardware. Simulators recreate real-life radars and dynamics for users to train in an artificial environment for system or functional testing.
The radar simulator market is segmented based on product, platform, component, and region. Based on component, the market is divided into hardware and software. The hardware segment is expected to be the largest segment during the forecast period. The growth can be attributed to rising complexity in simulating real-time scenarios. Moreover, the demand for skilled and trained military personnel is expected to fuel market growth. Based on platform, the market is bifurcated into military and commercial. The military segment is expected to register highest CAGR during the forecast period, owing to the emergence of modern warfare systems, such as network-centric warfare and electronic warfare, which require radar simulators for functional testing.
The major drivers for the radar simulator market include the affordability of simulator training and the emergence of modern warfare systems. The complexity of radar simulators and issues in development of customer-centric products are expected to restrain the growth of the market. The increasing R&D activities in military simulation and growing defense expenditure in developing economies are expected to create growth opportunities for the players in the market.
Segmentation of the Global Radar Simulator Market
North America dominated the radar simulator market in 2018, owing to the increased use of military radar simulators in the region. The region leads the global market in terms of technological advancements and expenditure towards military technologies. The US is expected to generate the highest demand for radar simulators for commercial purposes. The regional market is dominated by the US, which is also the largest manufacturer of radar simulator systems. Canada also made considerable investments in development of radar systems. Europe is the second-largest market in terms of revenue. Countries such as the UK, Germany, and France have a high presence of key manufacturers, which is expected to contribute towards market growth. Asia-Pacific is expected to register the highest CAGR during the forecast period. Manufacturers in the region are adopting cost-effective manufacturing technologies to develop radar simulators. The growing adoption of radar simulator in countries, such as China, India, and Japan, is expected to contribute significantly towards the regional market growth. Thus, the radar simulator market is estimated to witness a CAGR of more than 6% during the forecast period, 2018 to 2025.
Intended Audience of Radar Simulator Market
Key Players Included in Radar Simulator Market
The key players operating in the global radar simulator market are AAI Corporation (US), ARI Simulation (India), Acewavetech (South Korea), Buffalo Computer Graphics (US), Cambridge Pixel Ltd (US), Adacel Technologies Limited (Australia), Harris Corporation (US), Mercury Systems, Inc. (US), Micro Nav Limited (UK), Rockwell Collins (US), Presagis Canada Inc. (Canada), and Ultra Electronics Inc. (UK).
Radar Simulator Market Research Methodology
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Radar Simulator Market Is Estimated To Reach USD 24 Billion By 2028 It Is Expected To Grow at a CAGR Of 6%
key players operating in the global radar simulator market are AAI Corporation (US), ARI Simulation (India), Acewavetech (South Korea), Buffalo Computer Graphics (US), Cambridge Pixel Ltd (US), Adacel Technologies Limited (Australia), Harris Corporation (US), Mercury Systems, Inc. (US), Micro Nav Limited (UK), Rockwell Collins (US), Presagis Canada Inc. (Canada), and Ultra Electronics Inc. (UK).
North America dominated the radar simulator market in During The Year