April 29, 2020
According to the research report titled ‘Global Antenna Transducer and Radome (ATR) Market Size study, by Product (Antenna, Transducer and Radome), by Application (Defense, Aerospace and Homeland Security), by Technology (Radar, Communication and Sonar), by Cost (Defense Application, Application and Homeland Security Application) and Regional Forecasts 2019-2026’ available with Market Study Report LLC, global antenna transducer & radome market was worth USD 10.4 billion in 2018 and is expected to record a y-o-y growth rate of 9.6% through 2026.
For the record, an antenna is used to transfer and receive radio-frequency signals while a transducer aids in converting the received signal from one form of energy to another. A radome is used to safeguard radar systems or antennas from damage and helps to conceal an antenna from the public view. Antenna transducer and radome (ATR) allows effective wireless communication/transmission between multiple devices and is widely used in ground security, marine and aerospace sectors to monitor unmanned aerial vehicles, underwater objects and missiles.
Advancements in sensor and sonar technologies and escalating defense budgets are major factors driving the growth of global antenna transducer & radome industry. According to SIPRI (Stockholm International Peace Research Institute), worldwide military expenditure increased to USD 1822 billion in 2018, recording a 2.6% growth from 2017. Additionally, expanding fleet size as well as modernization of defense antennas are fostering the adoption of ATR devices across the globe. However, inadequate testing facilities for radomes and budget constraints in western Europe may act as restraining factor to the overall market growth.
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As per the regional analysis, North America accounts for a considerable share in worldwide antenna transducer & radome industry, primarily due to surging defense budgets in the U.S. On the other hand, Asia-Pacific market is poised to record a remunerative growth rate through 2026.
The prominent companies in antenna transducer & radome market are Leonardo S.p.A., QinetiQ Group Plc., BAE Systems PLC, The Boeing Co., Thales Group, L-3 Communications, Lockheed Martin Corp., Cobham PLC, Raytheon Co. and Exelis Inc. among others.