Artificial Intelligence
$6.46B Naval System Surveillance Radar Market to Grow at 7.2% CAGR to 2028 Led by North America (35% Market Share in 2021), Deep Dive Analysis of 18+ Countries across 5 Key Regions, 40+ Companies Scrutinized in New Research Report Published
New York, June 21, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Naval System Surveillance Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (X-band and Ku-band, L-band and S-band, and Others) and Application (Weapon Guidance System and Surveillance)”, the global naval system surveillance radar market size is projected to reach $6.46 billion by 2028 from $4.24 billion in 2022; it is expected to grow at a CAGR of 7.2% from 2022 to 2028.
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Naval System Surveillance Radar Market Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | US$ 4.24 Billion in 2022 |
| Market Size Value by | US$ 6.46 Billion by 2028 |
| Growth rate | CAGR of 7.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 151 |
| No. Tables | 54 |
| No. of Charts & Figures | 65 |
| Historical data available | Yes |
| Segments covered | Type, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Naval System Surveillance Radar Market: Competitive Landscape and Key Developments
Leonardo S.p.A., Raytheon Technologies Corporation, Northrop Grumman Corporation, Thales Group, and Ultra are a few key naval system surveillance radar market players. In addition, several other important naval system surveillance radar market players were studied and analyzed during the course of this study to get a holistic view of the global naval system surveillance radar market size and its ecosystem.
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In 2022, Raytheon Technologies Corp.’s RTX Missiles and Defense division win a contract modification to provide support services for the Dual Band Radar (DBR) program.
In 2021, Saab was awarded a contract to supply multi-role Sea Giraffe AMB naval radar antenna kits for the Royal Canadian Navy’s Halifax Class frigates.
Naval System Surveillance Radar Market: Key Insights
The naval system surveillance radar market growth driven by the growing importance of naval surveillance systems, rise in procurement of naval system surveillance radar, rising modern warfare systems. The surveillance application segment led the market with more than 60% share in 2021. It is further expected to dominate the market over the forecast period.
The growing importance of surveillance across coasts and mid-sea operations and the rising procurement of naval radars by the global defense sector owing to the rise in military expenditure is contributing to the global naval system surveillance radar market growth. Moreover, the modernization of naval radars, the rising integration of technologies with these radars, and the rising adoption of advanced modern warfare systems are propelling the naval system surveillance radar market growth.
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The demand for conventional naval equipment to be modernized is increasing as warfare and submarine management are changing. Modernization in radar is necessary to keep pace with technological progress during warfare. Thus, the demand to upgrade the system is driving the growth of the naval system surveillance radar market. Modernization aims to enhance technology and provide high reliability and cost-effective surveillance system solutions. The number of contracts between major defense corporations and the US government to upgrade naval systems such as tactical radar systems, moveable tactics, ships, light weapons, modern naval antennas, and other systems is increasing. As a result, the market is predicted to rise rapidly over the forecast period.
Many developing countries are focusing on upgrading their naval system surveillance radar. However, radar is still lacking the motivation to develop technically advanced and modernized equipment such as navigational aids (Navaids), maritime communication systems, naval gun mounts, ship engines, and gas turbines. Naval drones fired from the deck, artificial intelligence in a naval battle, space surveillance, and a secure private 5G network for machine-to-machine communication are other possibilities that the Navy has considered. Hence, the demand for conventional naval system surveillance radar across the naval forces will create opportunities for the naval system surveillance radar market.
Naval System Surveillance Radar Market: COVID Impact
The COVID-19 pandemic severely affected North America. There has been a disruption in many industries’ supply chain due to logistics restrictions and the closing of manufacturing facilities. The COVID-19 outbreak has slightly hampered the region’s naval system surveillance radar market. Although the COVID-19 pandemic partially affected the defense industry, the market grew remarkably in 2020.
The increasing demand for naval system surveillance radar to improve situational awareness to combat the COVID-19 pandemic aided the naval system surveillance radar market in limiting its impact. During the COVID-19 pandemic, the rapid growth of national security boosted the demand for naval system surveillance radar. As a result, the naval system surveillance radar market size is expected to grow rapidly in the coming years.
The operations of various industries in North America improved significantly in 2021, following a weak first quarter. For instance, in June 2021, ManTech was awarded a five-year US$ 110 million contract by the Naval Surface Warfare Center (NSWC) Crane to assist in the development and upgrade of radar and electronic warfare (EW) systems for the US Navy. However, this contract has boost the demand for naval system surveillance radar in the market during the COVID-19 pandemic.
Naval System Surveillance Radar Market: Application Overview
Based on application, the naval system surveillance radar market is segmented into weapon guidance systems and surveillance. In 2021, the surveillance segment dominated the naval system surveillance radar market, according to the market research study, and is expected to retain its dominance during the forecast period. The surveillance sector dominated the market because of increased disputes among neighboring countries, terrorist attacks, national security, and the changing nature of war in developed and developing nations.
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Moreover, the surveillance segment is expected to witness the fastest growing CAGR in the global naval system surveillance radar market over the forecast period. In this view, maritime surveillance aims to understand, anticipate, and manage all occurrences and actions related to the marine domain that may impact maritime security. This includes border control, marine environment control, vessel traffic management, accident and disaster response, search and rescue defense, and national security. Thus, these factors collectively contribute to the growth of communication systems in the naval system surveillance radar market share.
Browse Adjoining Reports:
Naval Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Surveillance Radar, Fire Control Radar, Navigation Radar); Component (Antenna, Transmitter, Receiver) and Geography
Backward Collision Avoidance Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Ultrasonic Radar, Laser Radar, Microwave Radar); Application (Passenger Cars, Commercial Vehicles) and Geography
3D Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Frequency Band (C/S/X Band, E/F Band, L Band, Others); Range (Long Range, Medium Range, Short Range); Platform (Airborne, Ground, Naval) and Geography
Surveillance Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Long Range Surveillance Radar, Medium Range Surveillance Radar, Short Range Surveillance Radar); Platform Type (Maritime Surveillance Radar, Land-Based Surveillance Radar, Airborne Surveillance Radar); Application (Military, Aerospace, Maritime, Home Security, Others) and Geography
X-Band Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Mobile X-Band Radar, Sea-Based X-Band Radar (SBX)); Array (Active Electronically Scanned Array (AESA), Passive Electronically Scanned Array (PESA)); Application (Defense, Government, Commercial) and Geography
Air Defense Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Range (Long Range, Medium Range, Short Range); Product Type (Synthetic Aperture and Moving Target Indicator Radar, Surveillance Radar, Airborne Early Warning Radar, Multi-functional Radar, Weather Radar, Others); System Type (Fixed, Portable); Platform (Ground-based, Aircraft-mounted, Naval-based); Aircraft Type (Fixed Wing, Rotary Wing); Application (Ballistic Missile Defense, Identification Friend or Foe, Weather Forecasting, Others) and Geography
Automotive Radar Market Forecast to 2027 – COVID-19 Impact and Global Analysis By Range (Long Range Radar (LRR), Medium Range Radar (MRR), Short Range Radar (SRR)), Frequency (24GHz, 77GHz, 79GHz), Application (Adaptive Cruise Control, Autonomous Emergency Braking, Blind Spot Detection, Forward Collision Warning System, Intelligent Park Assist, Others), and Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Medium and Heavy Commercial Vehicles)
Coastal Surveillance Radar Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Band Type (X-Band, S-Band, X and S-Band, and Others), Platform (Ship Borne, Land Based, and Airborne), and End User (Ports Harbor Oil & Gas Companies and Maritime Patrol Agencies)
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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View original content:https://www.prnewswire.co.uk/news-releases/global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow-302127739.html
Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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View original content:https://www.prnewswire.co.uk/news-releases/screenpoint-medical-leadership-transition-pieter-kroese-confirmed-as-ceo-302127719.html
WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
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Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
View original content:https://www.prnewswire.co.uk/news-releases/robotics-market-to-surpass-usd-126-96-billion-by-2031–skyquest-technology-302127230.html
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