Market for Search System And Instrument in the United States
Market Overview
In 
, the U.S. search system and instrument market decreased by -% to $ for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, continues to indicate a significant expansion. Search system and instrument consumption peaked at $ in , and then reduced in the following year.
In value terms, search system and instrument production reached $ in . The total output value increased at an average annual rate of +% from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. Over the period under review, production hit record highs in and is likely to see steady growth in years to come.
, the U.S. search system and instrument market decreased by -% to $ for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, continues to indicate a significant expansion. Search system and instrument consumption peaked at $ in , and then reduced in the following year.In value terms, search system and instrument production reached $
in . The total output value increased at an average annual rate of +% from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. Over the period under review, production hit record highs in and is likely to see steady growth in years to come.Consumption
In , consumption of search, detection, navigation, guidance, aeronautical, and nautical system and instrument decreased by -% to units for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, continues to indicate a significant expansion. Search system and instrument consumption peaked at units in , and then shrank in the following year.
The revenue of the search system and instrument market in the United States reduced to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted a significant expansion. Over the period under review, the market attained the peak level at $ in , and then contracted in the following year.
, consumption of search, detection, navigation, guidance, aeronautical, and nautical system and instrument decreased by -% to units for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, continues to indicate a significant expansion. Search system and instrument consumption peaked at units in , and then shrank in the following year.The revenue of the search system and instrument market in the United States reduced to $
in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted a significant expansion. Over the period under review, the market attained the peak level at $ in , and then contracted in the following year.Market Forecast
Driven by increasing demand for search system and instrument in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .
% for the period from to , which is projected to bring the market volume to units by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in the United States increased significantly over the last eight years (from % to %).
% to %).Trade Balance
The United States remains a net importer of search system and instrument; in physical and value terms, imports consistently exceeded exports from 2013 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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