Latvia: Radar Apparatus Market 2024

Radar Apparatus Market Size in Latvia

In 2022, the Latvian radar apparatus market increased by 15% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, continues to indicate a noticeable curtailment. Radar apparatus consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Radar Apparatus Production in Latvia

In value terms, radar apparatus production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a drastic downturn. The growth pace was the most rapid in 2019 with an increase of 193% against the previous year. Radar apparatus production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Radar Apparatus Exports

Exports from Latvia

In 2022, the amount of radar apparatus, radio navigational aid apparatus and radio remote control apparatus exported from Latvia surged to X units, picking up by 41% against 2021. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 94% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, radar apparatus exports surged to $X in 2022. Over the period under review, exports recorded a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 86% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Lithuania (X units) was the main destination for radar apparatus exports from Latvia, with a 41% share of total exports. Moreover, radar apparatus exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X units), threefold. Turkey (X units) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+1.6% per year) and Turkey (+43.2% per year).

In value terms, Russia ($X), Lithuania ($X) and Estonia ($X) constituted the largest markets for radar apparatus exported from Latvia worldwide, together accounting for 69% of total exports. The United States, Turkey, Norway, Spain, Bulgaria, Portugal, Germany, the Czech Republic, the UK and Poland lagged somewhat behind, together comprising a further 19%.

Spain, with a CAGR of +115.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average radar apparatus export price stood at $X per unit in 2022, which is down by -3.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 51%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Radar Apparatus Imports

Imports into Latvia

In 2022, approx. X units of radar apparatus, radio navigational aid apparatus and radio remote control apparatus were imported into Latvia; picking up by 68% compared with the year before. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2018 when imports increased by 285% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, radar apparatus imports skyrocketed to $X in 2022. In general, imports continue to indicate prominent growth. The growth pace was the most rapid in 2018 with an increase of 487% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Lithuania (X units), Germany (X units) and Italy (X units) were the main suppliers of radar apparatus imports to Latvia, together comprising 62% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +48.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of radar apparatus, radio navigational aid apparatus and radio remote control apparatus to Latvia, comprising 38% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 13% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+23.0% per year) and the Netherlands (+0.8% per year).

Import Prices by Country

In 2022, the average radar apparatus import price amounted to $X per unit, falling by -8.3% against the previous year. Overall, the import price, however, showed slight growth. The pace of growth was the most pronounced in 2013 when the average import price increased by 260%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform