New Product Launch and Supply Contract are the key Growth Strategies Adopted by Market players to Enhance Business Prospects in the Radar Simulator Market.
The radar simulator market is projected to grow from USD 2.31 Billion in 2017 to USD 2.85 Billion by 2022, at a CAGR of 4.36% from 2017 to 2022. The affordability of simulator training has driven the market for radar simulators.
Market players actively engaged in new product launches and supply contracts between 2012 and 2017 to achieve growth in the radar simulator market. Key manufacturers of radar simulators profiled in this report include Adacel Technologies Limited (Australia), ARI Simulation (India), AceWavetech (South Korea), Buffalo Computer Graphics (US), Cambridge Pixel Ltd (US), Harris Corporation (US), Mercury Systems, Inc. (US), Rockwell Collins (US), Ultra Electronics Inc. (UK), Textron Systems (US), Presagis Canada Inc. (Canada), and Micro Nav Limited (UK). These companies, who account for the major share of the radar simulator market, have adopted new product launch and supply contract as strategies to enhance their market shares.
Mercury Systems, Inc. operates through two segments, namely, Mercury Commercial Electronics (MCE) and Mercury Defense Electronics (MDS). The company is catering to the defense as well as commercial electronics markets. Its products and solutions are being incorporated in more than 300 programs by over 25 different defense prime contractors. The solutions offered by the company are associated with technologies related to radar, missiles, electronic warfare, C4ISR, and SONAR. The company is known for designing and building rugged pre-integrated subsystems in the electronic warfare; Intelligence, Surveillance and Reconnaissance (ISR); Signal Intelligence (SIGINT), radar simulator; and RF/microwave domains. The company mainly focuses on securing contracts and new product launches to improve its position in the radar simulator market. In November 2015, Mercury Systems, Inc. was awarded a contract worth USD 1.8 million by an aerospace & defense company for the supply of its radar environment simulation systems.
Textron Systems Corporation is one of the world’s best known multi-industry company because of its diversified business model. The company is operating in five different business segments, namely, Textron Aviation, Bell Helicopter, Industrial, Textron Systems, and Finance. The company maintains a global presence predominantly in 25 different countries. The company is planning to expand operations, specifically seeking opportunities in Eastern and Central Europe as well as in China, India, and South & Central America, where long-term growth prospects are strong. The company mainly focuses on new product development and securing contracts to improve its position in the radar simulator market. In March 2015, Textron Systems was awarded a contract by Lockheed Martin (US) to supply radar signal simulator Model 527 for the testing of electronic warfare (EW) systems of the fighter aircraft F-35 Lightning II.
Related Reports:
Radar Simulator Market by Product (System Testing, Operator Training), Application (Commercial, Military), Component (Hardware, Software), and Region - Global Forecast to 2022
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