Military Antenna Market Worth USD 6 28 Billion at 9 52% globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
By technology, the market is divided into automatic and manual. Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles. On the basis of component type, the market has been classified into electric compressors, heat exchanging equipment, expansion valves, and receiver-drier. By region, the market has been grouped into North America, Europe, Asia Pacific, and the Rest of the World.
Sanden Holdings Commences Automated Production of Electric Compressors
In January 2021, Japan-based Sanden Holdings Corporation announced the commencement of automated mass production of electric compressors at its Gunma plant to support advancements in electric vehicle HVAC technologies. The plant has an annual production capacity of 750,000 units and the company has managed to achieve 75% automation on this assembly line. The new automated systems are also equipped to perform sophisticated quality control operations, such as image analysis and image detection using 3D
The market is expected to gain momentum from a rise in the implementation of strict safety rules and regulations for pedestrians and drivers. Additionally, governments of various countries are enforcing OEMs to install airbags in commercial vehicles as well as passenger cars to double the safety features.
In terms of vehicle type, the market is grouped into commercial vehicles and passenger cars. Amongst them, at present, the passenger car segment holds the largest automotive airbags market share. It is projected to lead the market in the coming years. The governments of several countries are putting forward stringent laws regarding the safety of the passengers. Combined with this, a rise in the production and sales of passenger cars in emerging nations would augment the growth of this segment.
Increasing Population of Smartphone Users to Drive Growth
With the emergence of latest technologies, such as improved GPS tracking and high-speed internet, most players in the car rental market are offering smartphone-based applications to their customers. This strategy helps them effectively acquire new customers and retain old ones. The increasing usage of smartphones worldwide, coupled with their high penetration in developing countries owing to reducing prices is anticipated to drive the global car rental market growth.
For instance, according to a report published by the Indian Cellular and Electronics Association and KPMG, India will register around 820 million smartphone users by 2022. In addition, the increasing demand for car rentals from corporate travelers is projected to further strengthen the growth. However, increasing fuel prices and low penetration of alternative vehicles (such as EVs) may hinder the growth.
Radar Market Size is Projected To Reach USD 49.43 Billion By 2027 At A CAGR of 3.80% - Valuates Reports
Radar Market is Segmented by
Offering (Hardware, Software, and Services),
Product Type (Continuous Wave Radar, Pulse Radar, and Others),
Platform (Marine, Air, Ground, and Space),
Application (Air Traffic Control, Remote Sensing, Ground Traffic Control, and Space Navigation & Control), and
End User (Automotive, Aviation, Industrial, Weather Monitoring, Military & Defense, and Others), Opportunity Analysis and Industry Forecast, 2020-2027. This report is published on
Valuates Reports in the
Internet & Telecom Category.
The global Radar Market size was valued at USD 32.56 billion in 2019 and is projected to reach USD 49.43 billion by 2027, to register a CAGR of 3.80% from 2020 to 2027.