Serbia: Radar Apparatus Market 2024

Radar Apparatus Market Size in Serbia

The Serbian radar apparatus market reached $X in 2022, increasing by 9.5% against the previous year. In general, consumption, however, showed a perceptible downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Radar Apparatus Production in Serbia

In value terms, radar apparatus production surged to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible slump. The growth pace was the most rapid in 2020 when the production volume increased by 97% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Radar Apparatus Exports

Exports from Serbia

In 2022, the amount of radar apparatus, radio navigational aid apparatus and radio remote control apparatus exported from Serbia surged to X units, growing by 28% on 2021 figures. In general, exports, however, saw a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 965%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, radar apparatus exports dropped sharply to $X in 2022. Overall, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by 647%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units) was the main destination for radar apparatus exports from Serbia, accounting for a 39% share of total exports. Moreover, radar apparatus exports to Russia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X units), threefold. The third position in this ranking was taken by Montenegro (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +792.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+11.1% per year) and Montenegro (+3.5% per year).

In value terms, Russia ($X), Bosnia and Herzegovina ($X) and Montenegro ($X) were the largest markets for radar apparatus exported from Serbia worldwide, together accounting for 46% of total exports.

Russia, with a CAGR of +1,202.7%, saw the highest growth rate of the value of exports, in terms of 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, dropping by -65.1% against the previous year. Over the period under review, the export price recorded a pronounced descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by 118%. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per unit), while the average price for exports to Algeria ($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 (+47.0%), while the prices for the other major destinations experienced more modest paces of growth.

Radar Apparatus Imports

Imports into Serbia

In 2022, the amount of radar apparatus, radio navigational aid apparatus and radio remote control apparatus imported into Serbia contracted to X units, falling by -9.5% compared with the previous year. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 360% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, radar apparatus imports rose markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 158% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest radar apparatus supplier to Serbia, accounting for a 51% share of total imports. Moreover, radar apparatus imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by Lithuania (X units), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.2% per year) and Lithuania (+17.9% per year).

In value terms, China ($X) constituted the largest supplier of radar apparatus, radio navigational aid apparatus and radio remote control apparatus to Serbia, comprising 30% of total imports. The second position in the ranking was taken by Italy ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.7% per year) and the United States (+16.6% per year).

Import Prices by Country

The average radar apparatus import price stood at $X per unit in 2022, with an increase of 17% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radar apparatus import price increased by +19.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 62%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Slovenia ($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 United States (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform