Naval Radar Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Naval Radar Market covers analysis By Type (Surveillance Radar, Fire Control Radar, Navigation Radar); Component (Antenna, Transmitter, Receiver) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00023389
  • Category : Aerospace and Defense
  • No. of Pages : 150
Buy Now

Naval Radar Market Updates by 2031

Buy Now

The Naval RADAR Market is expected to register a CAGR of 8.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report is segmented by Type (Surveillance Radar, Fire Control Radar, Navigation Radar). The report further presents analysis based on the Component (Antenna, Transmitter, Receiver). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report Naval RADAR Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Naval RADAR Market Segmentation

Type
  • Surveillance Radar
  • Fire Control Radar
  • Navigation Radar
Component
  • Antenna
  • Transmitter
  • Receiver

Strategic Insights

Naval RADAR Market Growth Drivers
  • Increasing Defense Budgets and Military Modernization: Global defense spending has been rising, particularly in countries with strategic naval interests. As militaries modernize their fleets and enhance their maritime capabilities, the demand for advanced naval radar systems has surged. Naval radar plays a crucial role in surveillance, threat detection, and navigation, making it indispensable for modern naval forces. This growing focus on strengthening naval capabilities, driven by national security concerns and territorial disputes, is a significant driver for the naval radar market.
  • Advancements in Radar Technology and Operational Efficiency: Technological advancements, such as the development of phased-array radar, solid-state radar systems, and multifunctional radars, have enhanced the performance and operational efficiency of naval radar systems. These innovations provide superior detection capabilities, including improved target tracking, faster response times, and enhanced accuracy. Additionally, advancements in signal processing algorithms and radar waveform technologies allow naval radars to function effectively in challenging environments, such as congested or cluttered seas. These technological improvements are driving the demand for next-generation naval radar systems.
  • Rising Geopolitical Tensions and Naval Threats: Geopolitical instability, territorial disputes, and the increasing presence of adversarial naval forces are driving the demand for sophisticated naval radar systems. Nations are prioritizing the development and procurement of advanced radar technologies to detect and counter threats from both traditional and emerging maritime adversaries. Naval radars are crucial for surveillance, detecting submarines, and identifying anti-ship missile threats, particularly in regions like the South China Sea, the Mediterranean, and the Arctic. As threats evolve, the need for advanced radar systems continues to grow
Naval RADAR Market Future Trends
  • Shift Toward Integrated Multi-Function Radar Systems: A key trend in the naval radar market is the shift toward integrated, multi-function radar systems that combine multiple radar capabilities into a single platform. These systems, capable of handling air, surface, and subsurface detection simultaneously, allow for enhanced situational awareness, reduce operational costs, and streamline maintenance. By integrating various radar functions, these systems are enabling naval forces to operate more efficiently and with greater effectiveness, especially in complex environments where multiple threats may exist. This trend is driving the adoption of multifunction radar in modern naval vessels.
  • Increase in Maritime Security and Border Patrol Operations: The increasing need for enhanced maritime security, especially for border control and anti-piracy operations, is a significant trend driving the naval radar market. Countries are investing in radar technologies to secure their coastal areas, monitor illegal fishing, track potential threats, and maintain safe shipping lanes. Radar systems equipped with automated detection, tracking, and classification capabilities are being increasingly used to provide continuous surveillance and real-time data, aiding in decision-making processes. This trend toward advanced radar solutions for maritime security is reshaping the naval radar landscape.
  • Adoption of AI and Machine Learning for Enhanced Radar Processing: Artificial Intelligence (AI) and machine learning are being integrated into naval radar systems to improve target recognition, classification, and situational awareness. By using AI algorithms, naval radars can analyze vast amounts of data faster and more accurately, reducing human error and increasing efficiency. These systems can automatically detect patterns, identify potential threats, and enhance decision-making for operators. As AI and machine learning technologies continue to improve, their incorporation into radar systems is becoming a key trend, ensuring faster, more accurate threat detection and improving operational outcomes in naval operations
Naval RADAR Market Opportunities
  • Growth in Naval Fleet Modernization Programs: As countries around the world focus on modernizing their naval fleets to meet evolving defense needs, there is a significant opportunity for the naval radar market. The modernization of naval vessels, including destroyers, frigates, and submarines, involves upgrading or replacing older radar systems with advanced technologies capable of providing better detection and tracking capabilities. The growing emphasis on upgrading the naval fleet presents ample opportunities for radar manufacturers to supply next-generation radar systems that integrate new technologies such as phased-array antennas, solid-state radar, and multifunctional sensors.
  • Growth of Unmanned Naval Systems and Autonomous Vessels: The increasing use of unmanned naval systems and autonomous vessels opens up new opportunities for naval radar systems. These vessels require advanced radar capabilities for autonomous navigation, obstacle avoidance, and threat detection. For example, radar systems capable of providing real-time data for unmanned underwater vehicles (UUVs) and unmanned aerial vehicles (UAVs) are in high demand. As autonomous technology continues to advance, the need for radar systems specifically designed for unmanned operations presents a growing segment within the naval radar market.
  • Defense Contracts and International Collaborations: Global defense contracts and international collaborations present significant opportunities for the naval radar market. Many countries are investing in cooperative defense programs with allies, leading to joint procurement of advanced radar systems. Moreover, several nations are entering into partnerships with defense contractors to co-develop radar systems tailored to specific needs, such as anti-aircraft, anti-ship, or anti-submarine capabilities. The increasing number of defense partnerships and contracts, driven by the demand for more sophisticated naval assets, creates opportunities for radar system manufacturers to expand their market share and cater to diverse military requirements

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Naval RADAR Market, providing a holistic landscape.
  • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
  • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
  • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Naval RADAR Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

REGIONAL FRAMEWORK
World Geography

Have a question?

Analyst

Naveen

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst   Speak to Analyst
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
MARKET PLAYERS
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is the expected CAGR of the Naval RADAR Market?

The Naval RADAR Market is estimated to witness a CAGR of 8.1% from 2023 to 2031

What are the driving factors impacting the global Naval RADAR Market?

The major factors driving the Naval RADAR Market are: Increasing Defense Budgets and Technological Advancements

What is the future trend of the Naval RADAR Market?

Focus on Increased Surveillance Capability and Multi-Function Radar System Integration are the key future trends of the Naval RADAR Market

Which are the leading players operating in the Naval RADAR Market

The leading players operating in the Naval RADAR Market include Raytheon Technologies Company, TERMA, Leonardo S.p.A., Saab AB, IAI - Israel Aerospace Industries, Northrop Grumman Sperry Marine B.V., BAE Systems., HENSOLDT, Ultra, and ASELSAN A.S.

What are the deliverable formats of the Naval RADAR Market report?

The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

What are the options available for the customization of this report?

Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Naval Radar Market - By Type
1.3.2 Naval Radar Market - By Component
1.3.3 Naval Radar Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. NAVAL RADAR MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS

5. NAVAL RADAR MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6. NAVAL RADAR MARKET - GLOBAL MARKET ANALYSIS
6.1. NAVAL RADAR - GLOBAL MARKET OVERVIEW
6.2. NAVAL RADAR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. NAVAL RADAR MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SURVEILLANCE RADAR
7.3.1. Overview
7.3.2. Surveillance Radar Market Forecast and Analysis
7.4. FIRE CONTROL RADAR
7.4.1. Overview
7.4.2. Fire Control Radar Market Forecast and Analysis
7.5. NAVIGATION RADAR
7.5.1. Overview
7.5.2. Navigation Radar Market Forecast and Analysis
8. NAVAL RADAR MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. ANTENNA
8.3.1. Overview
8.3.2. Antenna Market Forecast and Analysis
8.4. TRANSMITTER
8.4.1. Overview
8.4.2. Transmitter Market Forecast and Analysis
8.5. RECEIVER
8.5.1. Overview
8.5.2. Receiver Market Forecast and Analysis

9. NAVAL RADAR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Naval Radar Market Overview
9.1.2 North America Naval Radar Market Forecasts and Analysis
9.1.3 North America Naval Radar Market Forecasts and Analysis - By Type
9.1.4 North America Naval Radar Market Forecasts and Analysis - By Component
9.1.5 North America Naval Radar Market Forecasts and Analysis - By Countries
9.1.5.1 United States Naval Radar Market
9.1.5.1.1 United States Naval Radar Market by Type
9.1.5.1.2 United States Naval Radar Market by Component
9.1.5.2 Canada Naval Radar Market
9.1.5.2.1 Canada Naval Radar Market by Type
9.1.5.2.2 Canada Naval Radar Market by Component
9.1.5.3 Mexico Naval Radar Market
9.1.5.3.1 Mexico Naval Radar Market by Type
9.1.5.3.2 Mexico Naval Radar Market by Component
9.2. EUROPE
9.2.1 Europe Naval Radar Market Overview
9.2.2 Europe Naval Radar Market Forecasts and Analysis
9.2.3 Europe Naval Radar Market Forecasts and Analysis - By Type
9.2.4 Europe Naval Radar Market Forecasts and Analysis - By Component
9.2.5 Europe Naval Radar Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Naval Radar Market
9.2.5.1.1 Germany Naval Radar Market by Type
9.2.5.1.2 Germany Naval Radar Market by Component
9.2.5.2 France Naval Radar Market
9.2.5.2.1 France Naval Radar Market by Type
9.2.5.2.2 France Naval Radar Market by Component
9.2.5.3 Italy Naval Radar Market
9.2.5.3.1 Italy Naval Radar Market by Type
9.2.5.3.2 Italy Naval Radar Market by Component
9.2.5.4 United Kingdom Naval Radar Market
9.2.5.4.1 United Kingdom Naval Radar Market by Type
9.2.5.4.2 United Kingdom Naval Radar Market by Component
9.2.5.5 Russia Naval Radar Market
9.2.5.5.1 Russia Naval Radar Market by Type
9.2.5.5.2 Russia Naval Radar Market by Component
9.2.5.6 Rest of Europe Naval Radar Market
9.2.5.6.1 Rest of Europe Naval Radar Market by Type
9.2.5.6.2 Rest of Europe Naval Radar Market by Component
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Naval Radar Market Overview
9.3.2 Asia-Pacific Naval Radar Market Forecasts and Analysis
9.3.3 Asia-Pacific Naval Radar Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Naval Radar Market Forecasts and Analysis - By Component
9.3.5 Asia-Pacific Naval Radar Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Naval Radar Market
9.3.5.1.1 Australia Naval Radar Market by Type
9.3.5.1.2 Australia Naval Radar Market by Component
9.3.5.2 China Naval Radar Market
9.3.5.2.1 China Naval Radar Market by Type
9.3.5.2.2 China Naval Radar Market by Component
9.3.5.3 India Naval Radar Market
9.3.5.3.1 India Naval Radar Market by Type
9.3.5.3.2 India Naval Radar Market by Component
9.3.5.4 Japan Naval Radar Market
9.3.5.4.1 Japan Naval Radar Market by Type
9.3.5.4.2 Japan Naval Radar Market by Component
9.3.5.5 South Korea Naval Radar Market
9.3.5.5.1 South Korea Naval Radar Market by Type
9.3.5.5.2 South Korea Naval Radar Market by Component
9.3.5.6 Rest of Asia-Pacific Naval Radar Market
9.3.5.6.1 Rest of Asia-Pacific Naval Radar Market by Type
9.3.5.6.2 Rest of Asia-Pacific Naval Radar Market by Component
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Naval Radar Market Overview
9.4.2 Middle East and Africa Naval Radar Market Forecasts and Analysis
9.4.3 Middle East and Africa Naval Radar Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Naval Radar Market Forecasts and Analysis - By Component
9.4.5 Middle East and Africa Naval Radar Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Naval Radar Market
9.4.5.1.1 South Africa Naval Radar Market by Type
9.4.5.1.2 South Africa Naval Radar Market by Component
9.4.5.2 Saudi Arabia Naval Radar Market
9.4.5.2.1 Saudi Arabia Naval Radar Market by Type
9.4.5.2.2 Saudi Arabia Naval Radar Market by Component
9.4.5.3 U.A.E Naval Radar Market
9.4.5.3.1 U.A.E Naval Radar Market by Type
9.4.5.3.2 U.A.E Naval Radar Market by Component
9.4.5.4 Rest of Middle East and Africa Naval Radar Market
9.4.5.4.1 Rest of Middle East and Africa Naval Radar Market by Type
9.4.5.4.2 Rest of Middle East and Africa Naval Radar Market by Component
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Naval Radar Market Overview
9.5.2 South and Central America Naval Radar Market Forecasts and Analysis
9.5.3 South and Central America Naval Radar Market Forecasts and Analysis - By Type
9.5.4 South and Central America Naval Radar Market Forecasts and Analysis - By Component
9.5.5 South and Central America Naval Radar Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Naval Radar Market
9.5.5.1.1 Brazil Naval Radar Market by Type
9.5.5.1.2 Brazil Naval Radar Market by Component
9.5.5.2 Argentina Naval Radar Market
9.5.5.2.1 Argentina Naval Radar Market by Type
9.5.5.2.2 Argentina Naval Radar Market by Component
9.5.5.3 Rest of South and Central America Naval Radar Market
9.5.5.3.1 Rest of South and Central America Naval Radar Market by Type
9.5.5.3.2 Rest of South and Central America Naval Radar Market by Component

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. NAVAL RADAR MARKET, KEY COMPANY PROFILES
11.1. RAYTHEON TECHNOLOGIES COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. TERMA
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. LEONARDO S.P.A.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. SAAB
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. IAI - ISRAEL AEROSPACE INDUSTRIES
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NORTHROP GRUMMAN SPERRY MARINE B.V.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. BAE SYSTEMS.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. HENSOLDT
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ULTRA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ASELSAN A.S.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies

1. Raytheon Technologies company
2. TERMA
3. Leonardo S.p.A.
4. Saab
5. IAI - Israel Aerospace Industries
6. Northrop Grumman Sperry Marine B.V.
7. BAE Systems.
8. HENSOLDT
9. Ultra
10. ASELSAN A.S.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Aerospace and Defense : READ MORE..