RADAR BEACON MARKET ANALYSIS

Regional Analysis

Regional analysis of radar beacon market

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to account for the largest market share during the forecast period owing to the presence of key players in the region such as Northrop Grumman Corporation, Lockheed Martin Corporation, Saab AB, Collins Aerospace, Honeywell International Inc. and L3Harris Technologies, Inc. Moreover, increased spending on innovative technologies, the growing use of radar technologies, and the increasing demand for early detection is expected to drive the market growth.

The market in Asia Pacific is also expected to witness significant market growth owing to factors such as the increasing adoption of radar technology and growing sea trade which are expected to drive the market growth. Furthermore, government funding and investment in the aviation sector are also expected to drive demand for radar beacons. For instance, according to the Civil Aviation Administration of China (CAAC), in December 2018, the government announced plans to build 450 airports to improve accessibility of air travel in China.