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(Publishing-NewsWire.com, October 20, 2021 ) According to a research report "Antenna Transducer and Radome Market by Product (Antenna & Transducer, Radome), Platform (Ground, Naval, Airborne), End User, Application, Technology (Radar, Communication, Sonar), Frequency, Region - Global Forecast to 2025" published by MarketsandMarkets, 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.
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The ATR market includes major players Raytheon Technologies Corporation (US), Honeywell International Inc. (US), L3Harris Technologies Inc. (US), Lockheed Martin Corporation (US), and Cobham Plc (UK). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect ATR production and services by 25–30% globally in 2020.
Based on product type, the antenna & transducers segment is expected to dominate the antenna, transducer, and radome market.
Based on product, the ATR market is segmented into antenna & transducer and radome. Since the First World War, the market for antennas & transducers, and radomes have started to grow remarkably, but the real transformation of these systems witnessed low levels of alteration in terms of technological development.
Based on technology, the radar segment is expected to dominate the antenna, transducer, and radome market.
Based on technology, the antenna, transducer, and radome market is segmented into radar, communication, and sonar. These technologies help detect, identify, or connect various devices and facilitate data sharing. The radar segment is expected to account for the largest market share in the current scenario. Similarly, growth of sonar segment is mainly attributed to the growing usage of antennas in sonar system, especially in naval applications.
The antenna, transducer, and radome market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period
On the basis of geography, the market is divided into North America, Europe, Asia-Pacific, the Middle East, and Latin America. In 2020, North America is estimated to account for the largest share of the antenna, transducer, and radome market. However, this market in the Asia-Pacific region is projected to grow at the highest CAGR from 2020 to 2025. This growth is mainly attributed to the increasing fleet size and modernization of military programs.
Raytheon Technologies Corporation (US), Honeywell International Inc. (US), L3Harris Technologies Inc. (US), Lockheed Martin Corporation (US), and Cobham Plc (UK) are some of the leading players operating in the ATR market report.
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