Radar beacon or Radar Transponder or RACON is receiver/transmitter electronic device that operates in the radar frequency of 9 and 3 GHz. The device is used to detect and identify radar targets at a fixed location. They are also used to identify the position of ships or aircraft by sending a radar signal. The radar signal will be displayed on the ship’s radar screen in coded form and give information regarding the range and bearing of the beacon. When the beacon receives a radar signal, it transmits the signal with the same frequency and displays the image on the radar display screen. The radar beacon finds applications in air traffic control, radio navigation, military purposes, satellite orbit detects, and others.
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.
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.
Impact of COVID-19 on the Radar Beacon Market
Due to the Covid-19 pandemic, several industries have witnessed a significant shift in terms of security in their businesses. Similarly, there has been a significant impact on the growth of the radar beacon market. Owing to bans imposed on international and domestic travel by several countries across the globe, there has been a decline in the growth of the aviation industry. Most of the people are staying at home and followed social distancing to contain the spread of coronavirus. These factors are expected to lower demand for radar beacons in the airline industry. The radar beacons are used in airline industry for surveillance, monitoring, and safety of the passengers. For instance, according to The International Air Transport Association (IATA), revenue losses between US$ 63,000 million and US$ 113,000 million are experienced in the global air transport industry.
Key players in the Radar Beacon Market
Key players operating in the radar beacon market are Northrop Grumman Corporation, Lockheed Martin Corporation, Saab AB, Collins Aerospace, Thales Group, Honeywell International Inc., L3Harris Technologies, Inc., Dassault Aviation, BAE Systems, and General Dynamics Corporation.
Segmentation of the Radar Beacon Market
The radar beacon market is segmented on the basis of product type, component type, application, and region.