Report : Asia Pacific Radar Simulator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software), System (System Testing and Operator Training), and Application (Military and Commercial)
At 6.3% CAGR, the Asia Pacific Radar Simulator Market is speculated to be worth US$ 470.54 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific radar simulator market was valued at US$ 326.19 million in 2022 and is expected to reach US$ 470.54 million by 2028, registering an annual growth rate of 6.3% from 2022 to 2028. The rising demand for skilled and trained radar operators and increasing modern warfare systems are the critical factors attributed to the market expansion.
The rise of modern air traffic control towers and advanced military technologies has created an increasing demand for the operators that are capable of operating with modern day on-ground aircraft related equipment and military technology. Radar simulators deals with large volumes of unprocessed radar signal data to uncover unidentified airborne threats, naval threats, or any other objects within the defined perimeters. There has been an increase in the adoption of radar simulators among the military and defense forces across various countries which has triggered high investment for the development and research of radar simulation technology. This has given rise to the demand for highly skilled and trained radar operators across airports, air force base stations, naval ships, military cargo vessels and naval ports. The fact that this demand is expected to increase in the coming years presents a huge growth opportunity for the key market players as well as the overall radar simulator market in the coming years. As the aerospace and defense sectors are expected to grow during the forecast period, this is expected to further boost the demand for skilled, trained and experienced radar operator to safeguard the airspace, waterways and land borders of countries. Hence, the demand for skilled and trained radar operators across commercial and defense aviation sector coupled with naval forces and military ground forces is anticipated to propel the radar simulator market during the foreseeable future.
On the contrary, high cost and longer lifespan of radar simulators hurdles the growth of Asia Pacific radar simulator market.
The Asia Pacific radar simulator market by component has been segmented into hardware and software. The hardware segment held 65.6% market share in 2022, amassing US$ 214.14 million. It is projected to garner US$ 300.95 million by 2028 to expand at 5.8% CAGR during 2022–2028.
The Asia Pacific radar simulator market is divided on the basis of system as system testing and operator training. The operator training segment held 65.0% market share in 2022, amassing US$ 211.93 million. It is projected to garner US$ 312.19 million by 2028 to expand at 6.7% CAGR during 2022–2028.
By the application, the Asia Pacific radar simulator market is bifurcated into military and commercial. With 60.4% share of the domain, the commercial segment dominated the market in 2022. It accrued US$ 197.02 million in 2022 and is estimated to generate US$ 277.08 million by 2028 to grow at a CAGR of 5.8% over the forecast period.
Based on country, the Asia Pacific radar simulator market is categorizsed into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. Our regional analysis states that China captured 37.2% market share in 2022. It was assessed at US$ 121.36 million in 2022 and is likely to hit US$ 171.94 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.
Key players dominating the Asia Pacific radar simulator market are Adacel Technologies Limited; ARI Simulation; Collins Aerospace; L3Harris Technologies, Inc.; Mercury Systems Inc.; Micro Nav Limited; Textron Systems Corporation; and Ultra Electronics Inc. among others.
- In 2021, Adacel Technologies Limited has announced a new five-year contract with Airservices Australia for Control Tower Simulator (CTS) support services. The contract value is estimated at almost A$1 million.
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