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Hong Kong SAR, China - Radar Apparatus, Radio Navigational Aid Apparatus And Radio Remote Control Apparatus - Market Analysis, Forecast, Size, Trends and Insights
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View PricingExport of Radar Apparatus in Hong Kong Plummets to $26M in October 2023
Hong Kong Radar Apparatus Exports
After two months of decline, shipments abroad of radar apparatus, radio navigational aid apparatus and radio remote control apparatus increased by 18% to 3.2M units in October 2023. In general, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in June 2023 when exports increased by 29% month-to-month. The exports peaked at 4.4M units in October 2022; however, from November 2022 to October 2023, the exports failed to regain momentum.
In value terms, radar apparatus exports plummeted to $26M (IndexBox estimates) in October 2023. Overall, exports, however, recorded a slight downturn. The most prominent rate of growth was recorded in March 2023 when exports increased by 48% m-o-m. The exports peaked at 34M units in November 2022; however, from December 2022 to October 2023, the exports remained at a lower figure.
COUNTRY | Export Value of Radar Apparatus in Hong Kong (million USD) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | |
Vietnam | 8.3 | 4.2 | 3.6 | 6.5 | 6.4 | 5.5 | 4.9 | 4.2 | 3.9 | 8.7 | 7.6 | 3.8 | 6.7 |
China | 4.8 | 5.6 | 4.5 | 2.5 | 2.4 | 4.7 | 4.4 | 3.9 | 3.1 | 6.2 | 5.5 | 4.6 | 4.2 |
United States | 6.7 | 6.6 | 6.7 | 5.4 | 3.0 | 3.8 | 4.1 | 4.8 | 5.3 | 4.0 | 3.5 | 5.9 | 2.8 |
Others | 13.3 | 18.0 | 15.7 | 15.1 | 9.7 | 17.6 | 16.9 | 15.4 | 18.2 | 14.7 | 16.0 | 18.8 | 12.7 |
Total | 33.1 | 34.3 | 30.5 | 29.6 | 21.5 | 31.7 | 30.3 | 28.3 | 30.5 | 33.6 | 32.6 | 33.1 | 26.4 |
Exports by Country
Vietnam (1.8M units) was the main destination for radar apparatus exports from Hong Kong, accounting for a 56% share of total exports. Moreover, radar apparatus exports to Vietnam exceeded the volume sent to the second major destination, China (347K units), fivefold.
From October 2022 to October 2023, the average monthly growth rate of volume to Vietnam stood at -2.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (+1.4% per month) and the United States (-10.1% per month).
In value terms, Vietnam ($6.7M), China ($4.2M) and the United States ($2.8M) constituted the largest markets for radar apparatus exported from Hong Kong worldwide, with a combined 52% share of total exports.
China, with a CAGR of -1.1%, 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 a decline.
Exports by Type
Radio remote control apparatus (2.9M units) was the largest type of radar apparatus exported from Hong Kong, accounting for a 92% share of total exports. Moreover, radio remote control apparatus exceeded the volume of the second product type, radio navigational aid apparatus (263K units), more than tenfold.
From October 2022 to October 2023, the average monthly growth rate of the volume of export of radio remote control apparatus stood at -2.6%. With regard to the other exported products, the following average monthly rates of growth were recorded: radio navigational aid apparatus (-1.3% per month) and radar apparatus (+4.7% per month).
In value terms, radio remote control apparatus ($15M), radio navigational aid apparatus ($9.3M) and radar apparatus ($2.1M) constituted the most exported types of radar apparatus, radio navigational aid apparatus and radio remote control apparatus from Hong Kong worldwide.
Radio navigation apparatus, with a CAGR of -1.5%, saw the highest rates of growth with regard to the value of exports, among the main product categories over the period under review, while shipments for the other products experienced a decline.
Export Prices by Country
In October 2023, the radar apparatus price stood at $8.3 per unit (FOB, Hong Kong), with a decrease of -32.6% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in September 2023 when the average export price increased by 41% against the previous month. As a result, the export price attained the peak level of $12,241 per thousand units, and then dropped rapidly in the following month.
There were significant differences in the average prices for the major external markets. In October 2023, the country with the highest price was Austria ($35.0 per unit), while the average price for exports to Brazil ($1.5 per unit) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the radar apparatus market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26512020 - Radar apparatus
- Prodcom 26512050 - Radio navigational aid apparatus (including radio beacons and radio buoys, receivers, radio compasses equipped with multiple aerials or with a directional frame aerial)
- Prodcom 26512080 - Radio remote control apparatus (including for ships, pilotless aircraft, rockets, missiles, toys, and model ships or aircraft, for machines, for the detonation of mines)
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023