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3. Lockheed Martin Corporation (US) and Northrop Grumman Corporation (US) are the Major Player in the Synthetic Aperture Radar Market

A synthetic aperture radar can be defined as a radar system that uses the motion of the vehicle (such as a spacecraft) to simulate a system having a much larger antenna area and is used to obtain high-resolution images of a surface. The synthetic aperture radar market is projected to grow from USD 2.41 Billion in 2017 to USD 4.21 Billion by 2022, at a CAGR of 11.75% from 2017 to 2022. The Europe synthetic aperture radar market is growing at a significant pace due to the increase in the defense expenditure of various countries in the region. Moreover, the growth of the Asia Pacific synthetic aperture radar market can be attributed to the rise in defense spending of various countries of the region, which has further led to an increase in the procurement of defense equipment such as synthetic aperture radars for surveillance activities.

Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), Thales Group (France), BAE Systems (UK), etc., are the key players operating in the synthetic aperture radar market. These players have been focusing on securing contracts to ensure organic growth in the synthetic aperture radar market. The core competencies of these market players include geographical presence and increased investments in R&D activities.

The Lockheed Martin Corporation (US) is a major player in the synthetic aperture radar market. The company focuses on extensive R&D activities to gain contracts. The company has a wide product portfolio that consists of various synthetic aperture radars used in different applications and platforms. For example, in 2016, the Lockheed Martin Corporation received a contract from the Telephonics Corporation (US) for the 103 AN/APS-153(V)1 multi-mode radar, which is lightweight and has low prime power.

Northrop Grumman Corporation (US) is another major player in the synthetic aperture radar market. It is a leading supplier of synthetic aperture radars to defense and commercial sectors. The company has received some contracts mostly from the North American region. For example, in September 2017, Northrop Grumman Corporation has signed an agreement with Terma (Denmark) to develop a SCANTER 6002 surveillance radar, which is affordable and easily integral in radar systems and can detect small targets in low visibility and harsh weather conditions.

Related Reports:

Synthetic Aperture Radar Market by Frequency Band (X, L, C, S, K/Ku/Ka, UHF/VHF), Component (Receiver, Transmitter, Antenna), Platform (Airborne, Ground), Application Area (Defense, Commercial), Mode (Multimode, Single mode), and Region - Global Forecast to 2022

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