The global ATR market size is projected to grow from USD 9.1 billion in 2020 to USD 16.0 billion by 2025, at a CAGR of 11.9% from 2020 to 2025. The growth of the market can be attributed to the growing trend of automation in flight control and increase in defense expenditure and R&D activities to develop ATR, capable of withstanding harsh conditions and providing long-range capabilities at low power consumption.
The ATR market includes major players such as Raytheon Technologies Corporation (US), Honeywell International Inc. (US), L3Harris Technologies Inc. (US), Lockheed Martin Corporation (US), and Cobham Plc (UK) among others. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect ATR production and services by 25–30% globally in 2020.
“Ground: The largest market share segment of the ATR market, by platform “
Based on platform, the ATR market is segmented into airborne, ground, and naval platform. Ground platform is the platform segment contributing the largest share of the ATR market. Increasing demand for enhanced and optimized communication, navigation, and surveillance across all platforms is driving the antenna, transducer, and radome market. The naval segment of the antenna, transducer, and radome market is projected to grow at the highest CAGR during the forecast period, owing to an increase in demand for unmanned underwater vehicles and upgrades in military vessels, which, in turn, results in an increase in the demand for antennas and transponders.
“Defense: largest market share segment of the ATR market, by end user“
Based on end user, the ATR market is segmented into commercial and defense. The defense segment is the largest segment of the ATR market compared to the commercial segment. The market growth is attributed to the high volume of antennas, transducers, and radomes used in defense platforms.
“Asia Pacific: The fastest-growing region in the ATR market.”
Asia Pacific is projected to be the highest CAGR rate for the ATR market during the forecast period. Countries in the Asia Pacific region are undergoing rapid development and upgrading the capabilities of aircraft systems, which are presenting opportunities for manufacturers of antennas, transducers, and radomes to enhance their business in the region. A rise in demand for low-cost carriers (LCCs) is one of the factors driving the growth of the ATR market in Asia Pacific.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1–25%; Tier 2–45%; and Tier 3–30%
- By Designation: C Level–30%; Directors–30%; and Others–40%
- By Region: North America–45%; Europe–30%; Asia Pacific–15%; Middle East–5%; and South America & Africa-5%
Raytheon Technologies Corporation (US), Honeywell International Inc. (US), L3Harris Technologies Inc. (US), Lockheed Martin Corporation (US), and Cobham Plc (UK) are some of the leading players operating in the ATR market report.
The study covers the ATR market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on Product Type, Platform, Application, End User, Frequency, Technology, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons To Buy this Report
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall ATR Market and its segments. This study is also expected to provide region wise information about the applications, and wherein ATR is used. This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.