Global Antenna, Transducer and Radome (ATR) Market Insights, Business Analysis and Key Companies in Industry Till 2027

Antenna and transducer transmit and receives radio signals across several frequencies. The radome is a solid structure that is weatherproof and is typically an enclosure to protect radar antennas. ATR are precise instruments that are extensively used for several commercial and defense purposes, such as for effective communication, manage air traffic control, weather monitoring, and surveillance. ATR technology is beneficial for several types of applications ranging from military communication to global space programs. Additionally, they act as bridges for communication among several countries.

The global antenna, transducer and radome market size is likely to exhibit a CAGR of 10.2% between 2020 and 2027.

"Increasing Military Budgets Worldwide to Drive the Market"

According to a report by the Stockholm International Peace Research Institute (SIPRI), overall global military expenditure has shot to $1,917 billion in 2019 that is a gradual increase of 3.6% from 2018. Additionally, the five largest spenders along with Saudi Arabia and Russia accounted for about 62% of the total expenditure., the United States registered the highest military spend that was a staggering $732 billion in 2019, a growth of over 5.3% from 2018 while holding nearly 38% of the total military spending.International threats and political tensions are propelling the countries to modernize their military with high-tech and advanced weaponry systems. The acute focus on strengthening their military prowess by the government agencies that include increased military budget will drive the market growth during the forecast period.

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List of the Companies Proliferating in the Market:

BAE Systems (The UK)
Cobham plc. (The UK)
General Dynamics Corporation (The US)
Honeywell International Inc. (The US)
L-3 Harris Technologies Inc. (The US)
Leonardo SpA (Italy)
Lockheed Martin Corporation (The US)
Northrop Grumman Corporation (The US)
Raytheon Company (The US)
Thales Group (France)