RADAR BEACON MARKET ANALYSIS

Market Challenges And Opportunities

Factors driving growth of the radar beacon market

The increasing demand for air traffic control is expected to drive the market growth during the forecast period. This is attributed to an increase in the number of national and international travelers across the globe. There is higher preference among travelers for flights compared to railways for long distance travelling. As a result, most passengers prefer to travel by air to save time. The radar beacon is used in aircraft for monitoring and surveillance purposes to ensure the safety of the passengers. Moreover, manufacturers of aircraft are now focusing on developing safety systems and deploying radio detection systems to facilitate air traffic control and ensure passengers' safety. For instance, according to Coherent Market Insight’s analysis, in India, the number of passengers travelling by air reached 20 million in 2019 from 12.3 million in 2015.

The increasing demand for security in military applications is also expected to drive the market growth during the forecast period. This is attributed to growing focus of governments in countries such as China and India on developing equipment and the rising investment in military operations. Due to increasing threats of attacks and border security, several countries are increasing their spending on military operations. For instance, in May 2017, China developed J–31 prototype stealth fighter planes with enhanced radar systems which have supercruise capabilities and replaced the old F–35 fighters. The supercruise capability allows aircraft to fly at supersonic speed without using its afterburner which consumes large amounts of fuel. Moreover, increasing instances of border infiltrations, inter-country conflicts, and terrorist activities are expected to facilitate the growth of the radar beacon market. Thus, all these factors are expected to drive market growth during the forecast period.