Radar Absorbing Materials Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Magnetic, Dielectric, and Hybrid), By Technology Type (Impedance matching, Resonant absorbers, Circuit Analog RAM, Magnetic RAM, Adaptive RAM), By Material (Carbon, Metal and Metal Particles, Conducting Polymers, Polypyrrole, Polyaniline, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The Global Radar Absorbing Materials Market is projected to grow from USD 472.96 million in 2021 to USD 631.95 million by 2030 at a CAGR of 3.88% during the forecast period. Radar Absorbing Materials absorbs incident Electromagnetic (EM) energy and convert it to heat or other kinds of energy. The energy intake will be equal to the energy output. To limit the amount of electromagnetic radiation scattered from its surface, radar absorbing materials are utilised.
This technology was formerly only employed for military purposes, such as land, air, and sea vehicles. The technology's reach has expanded as a result of innovation and advancement, and it is currently employed for both civil and commercial purposes. It has been used to minimise radar dispersion and prevent interference at airports and wind turbines.
COVID-19 ANALYSIS
During the COVID-19, several manufacturing facilities have been temporarily shuttered as a result of government agencies' precautionary actions to prevent the spread of COVID-19, causing delays in order deliveries. In 2020, this tendency appears to vary by country. While demand for electronic warfare in Europe has been steadily increasing, demand in North America has increased significantly. The following are some key developments that demonstrate the rise in demand for electronic warfare in the defense sector during the COVID-19 crisis in North America.
Top key players in the radar absorbing materials market provide products for a variety of defense applications, therefore despite COVID-19, they have witnessed consistent supply. Lockdown measures implemented by many countries to stop the spread of the virus initially disrupted the supply chain to some extent. During COVID-19, there were concerns about the provision of equipment in several regions. Several distributors and suppliers lacked sufficient quantities of absorbing material to meet the ongoing demand.
LATEST TREND
Rapid Technological Improvements in Electronics and Communication Technology
The consumption of radar absorption materials will be fueled by rapid technological improvements in electronics and communication technology. The need for radar absorption materials is driven by rising government spending in the defense sector for the development of new equipment and technologies.
Nanostructured radar absorbing materials will aid in the improvement of the radar absorbing materials market globally due to continual product developments in connected end use industries. The use of radar absorbent materials in radar systems and technology is expected to boost the industry growth during the forecast period.
DRIVING FACTORS
Increased Demand for Stealth Aircraft Drive Market Growth
The market for radar absorption materials is developing due to increased demand for stealth aircraft and technical advancements in electronics technologies to lower radar visibility. In the projected period, the aerospace, automation, healthcare, electronics, and other end-user industries are expected to drive market expansion. Furthermore, the government's increased expenditure in national defense and security is encouraging market growth. The market is predicted to increase in response to rising demand for imaging equipment in the healthcare sector. Furthermore, rising demand for unmanned aircraft in the commercial, military, and civil sectors is boosting the RAM market.
RESTRAINTS
Radar Absorbing Materials Are Used As A Complementary Technique Which Is Limiting Growth
Radar absorption materials can be used for frequencies ranging from 100 MHz to 100 GHz. This limits the range of applications for radar absorption materials, which varies widely depending on reflectance, bandwidth, and frequency of operation. In reality, radar absorption materials are utilized as a complement to other techniques, this is hamper growth of the market.
SEGMENTATION
The Global Radar Absorbing Materials Market is segmented by Product Type, Technology Type, Material, and Region. Based on the Product Type, the market is categorized into Magnetic, Dielectric, and Hybrid. Based on Technology Type, the market is categorized into Impedance matching, Resonant absorbers, Circuit Analog RAM, Magnetic RAM, Adaptive RAM. Based on Material, the market is categorized into Carbon, Metal and Metal Particles, Conducting Polymers, Polypyrrole, Polyaniline, and Others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
REGIONAL INSIGHTS
The Global Radar Absorbing Materials Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
North America is the largest market for Radar Absorbing Materials due to the United States and Canada are major countries for market. Due to increased investments in electronic and communication technology by countries in this region, this region is likely to lead the market during the forecast period. Defense forces from North American countries are working on the creation of cutting-edge electronic warfare equipment. Radar absorbing materials are well-established and well-known in this region this is propelling market growth during the forecast period.
According to industry experts, the COVID-19 epidemic has had little impact on demand for electronic warfare in the defense sector in the United States and Canada. The US Department of Defense (DoD) has requested manufacturers to keep working on electronic warfare products. However, the demand for electronic warfare in commercial applications has shifted, particularly in sporting and hunting activities. Electronic warfare demand for self-defense applications has increased significantly.
KEY INDUSTRY PLAYERS
Some examples of the key players and service providers identified in the Radar Absorbing Materials Market include Laird Technologies, Inc., SOLIANI EMC, PARKER HANNIFIN CORP, BAE Systems, MAST Technologies, HITEK Electronic Materials Ltd, and MSM Industries, Inc. among the other key players.
The research study provides intelligent insights, facts, historical data, and statistically backed and industry-validated market statistics, as well as a detailed assessment of the market. It also includes estimates based on a set of reasonable assumptions and procedures. The research study analyses and provides data for market segments such as applications, geographies, and industries.
KEY INDUSTRY DEVELOPMENTS:
September 2020- Lockheed Martin awarded BAE Systems a contract for the production and delivery of additional electronic warfare systems for the 5th Generation F-35 Lightning II, including long lead, sustainment spares, and retrofit kits, providing advanced situational awareness and threat response capabilities that support critical missions in contested airspace.
SEGMENTATION
By Product Type
- Magnetic
- Dielectric
- Hybrid
By Technology Type
- Impedance matching
- Resonant absorbers
- Circuit Analog RAM
- Magnetic RAM
- Adaptive RAM
By Material
- Carbon
- Metal and Metal Particles
- Conducting Polymers
- Polypyrrole
- Polyaniline
- Others
By Region
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy, Spain, Rest of Europe
- Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
- South America- Brazil, Argentina, Colombia, Rest of South America
- The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa
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Radar Absorbing Materials Market Size
- May-2022
- 1 4 0
- Global
- Chemicals-and-Advanced-Materials
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