The newly launched report by Stratview Research, titled ‘Radar Simulator Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025’ has been bifurcated by Product Type (System Testing, Operator Training), by Application Type (Military, Commercial), by Component Type (Hardware, Software), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report the Radar Simulator Market is likely to witness an impressive CAGR of 5.2% during the forecast period.
The growing affordability of radar simulators over live training, along with the emergence of modern warfare systems is bolstering the radar simulator market.
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Market Segmentation Analysis -
Based on the product type, the market is segmented as system testing and operator training. The operator training segment is estimated to lead the market, driven by the rising claim in various applications, such as navigation, search, weather monitoring, surveillance, fire control, and mission rehearsal, among a host of others.
Based on the application type, the market is segmented as military and commercial. The military segment is anticipated to be the faster-growing segment in the coming five years. This growth can be majorly attributed to the development of modern warfare systems, such as electronic warfare and network-centric warfare, which call for radar simulators for their functional testing. Another significant factor that has influenced the high growth of this segment is the claim for skilled and trained military personnel.
Based on the component type, the market is segmented as hardware and software. The hardware segment is projected to be the faster-growing segment during the forecast period. The growing intricacies in simulating different real-time scenarios with the purpose to deliver best learning for operators signify the dominance of this segment. Another factor that is bolstering the growth of the segment is the simulation of different warfare scenarios, which needs imitating radar hardware.
In terms of regions, the North American region was estimated to account for the largest share of the radar simulator market in 2018. The US and Canada are the growth engines of the region. North America is expected to maintain its dominance during the forecast period, owing to the regional presence of some of the giant radar simulator manufacturers, such as Cambridge Pixel Ltd (US), Harris Corporation (US), Buffalo Computer Graphics (US), Mercury Systems, Inc. (US), Textron Systems (US), Rockwell Collins (US), and Presagis Canada Inc. (Canada), among a host of others. Europe and Asia-Pacific are also expected to offer considerable growth opportunities in the coming five years.
The key players in the market are-
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.