The radar absorbing material market is growing on account of the rising demand of radar-absorbent material in the aerospace industry, healthcare sector and automation industry. Moreover, a unique feature of radar-absorbent material to reduce object’s radar cross-sections in specific radar frequencies is expected to provide significant growth opportunities to the market. Further, use of unmanned aircraft in civil sectors is propelling the growth of radio absorbent material market. Additionally, rapid urbanization, rise in government expenditure in defense sector and high demand of radar-absorbent material in the power sector strongly contributes to the lucrative growth of the market. Due to the frequent launch of new product in radar absorbing materials market and introduction of high-end technology aids the Global Radar Absorbent Material Market growth.
The outbreak of COVID-19 pandemic has negatively impacted Global Radar Absorbent Material market in 2020. This is due to temporary shutdown of manufacturing units, supply chain, delayed deliveries of product in the market and limited staff present at production unit. The nationwide lockdown has affected the overall market growth. However, as the lockdown is lifted up and government has approved to open the market under certain norms, the demand for the radar absorbent material market in country is expected to boost in 2021-2026.
On the basis of technology, Impedance matching has grabbed the highest share in the global radar absorbent material market due to its capability to produce low reflectivity. Based on application, Military segment dominates the global radar absorbent material market owing to high demand of unmanned aircraft in military sector.
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The key players with a considerable market share in the Global Radar Absorbent Material market are Arc Technologies, Inc., BAE Systems Plc, Cuming Microwave Corporation, Eeonyx, Laird Technologies, Inc., M.S.M. Industries, Inc., Mast Technologies, Micromag, MWT-Materials, Inc., Panashield, Parker Hannifin Corp, Soliani EMC S.R.L.
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