Radar-simulator market to grow to $2.85 billion by 2022, says study
VANCOUVER, Wash. The radar simulator market is projected to grow from $2.21 billion in 2016 to $2.85 billion by 2022, at a CAGR [combined annual growth rate] of 4.36 percent, according to a new market study from MarketsandMarkets, "Radar Simulator Market by Product (System Testing, Operator Training), Application (Commercial, Military), Component (Hardware, Software), and Region - Global Forecast to 2022."
The Asia-Pacific region will experience the highest CAGR in the radar simulator market during the forecast period, the study found. That area's increase in passenger traffic and aircraft deliveries will drive the increasing need to train radar operators, which in turn will drive the regional market for radar simulators.
The market research also predicted that the hardware segment will dominate the radar simulator market in 2017. The hardware segment -- or the physical parts of a radar simulator -- includes transmitters, antenna, receivers, power supply, waveform generator, amplifier, microcontroller, amplitude modulator, attenuator, matched filter, analog-to-digital converters, and signal-processing units. The dominance of this segment, the study found, is driven by the increased complexity in simulating various real-time scenarios.
The study found that the major players in the radar simulator market include Buffalo Computer Graphics, Harris Corp., Mercury Systems, Rockwell Collins, and Textron Systems in the United States; Micro Nav, Cambridge Pixel, and Ultra Electronics in the U.K.; Adacel Technologies (Australia); ARI Simulation (India); AceWavetech (South Korea); and Presagis (Canada).
For additional information on the market forecast, please visit the MarketsandMarkets website.