The global military radar market size is expected to reach
USD 13,779.7 million by 2024, according to a new study by Grand View Research,
Inc. The escalated demand for improving border safety is anticipated to propel
growth in the security & surveillance systems and equipment, such as
military radars. Radar systems used in the military sector are further used for
weapon guidance, controlling air traffic, and air collision avoidance. Military
radars are extensively used in missile guidance techniques, such as Active
Radar Homing (ARH) and Semi-Active Radar Homing (SARH), as these systems help
in the accurate target detection tracking.
North America military radar market revenue by type, 2014 - 2024 (USD Million) |
The growing demand for military radars for the
guidance of missile systems is expected to propel the demand over the next
eight years. The need for high-resolution imaging radars for detecting fixed
and moving targets in the battlefield is further anticipated to incite growth
in the industry. The wide-scale adoption of military radars for aircraft
collision avoidance is anticipated to contribute to the industry expansion.
The growth in market is highly susceptible to the
prevailing economic conditions. The after effects of global recession have
greatly impacted the military spending across the world, which is a significant
factor responsible for driving down the growth opportunities in the industry.
The European countries, such as the UK, Germany, and Russia, have experienced
cuts in military budgets owing to the financial crisis and macroeconomic
conditions. Another key factor affecting the growth of military radars is the
cost of developing space-based radars, which demand an extensive spending on
R&D activities and manufacturing.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/military-radar-market
Further
key findings from the study suggest:
- The ground-based radar segment accounted for
29.5% of the overall market share in 2015. The escalated demand for
intelligent ground surveillance and the wide-scale deployment of radar
systems to curb border infiltration activities and enhance border control
can be attributed as the major factors favorably impacting the demand for
ground-based radars.
- The North American regional market accounted for
45.7% of the global revenue share in 2015. The escalated demand in the
region can be attributed to the wide-scale adoption of military radars in
the Three-Dimensional Expeditionary Long-Range Radar (3DELRR) program, the
Acoustic-Rapid COTS Insertion (A-RCI) program, and the Space Fence
program.
- The European and Asia Pacific regions are
projected to account for a significant proportion of the global military
radar industry over the forecast period with shares of 20.7% and 24.9%
respectively in 2015. The regional growth can be attributed to the strong
efforts and heavy investments in the defense sector by countries such as
India, China, and Russia for modernizing their military equipment.
- Prominent players operating in the market include
BAE Systems PLC, Airbus Group, Finmeccanica S. p. A., Israel Aerospace
Industries Ltd., General Dynamics, Northrop Grumman Corporation, Lockheed
Martin Corporation, Raytheon Company, Thales Group, and Saab Group. The
industry players are emphasizing on offering radar systems with high
reliability and enhanced performance.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/network-security-software-and-services
Grand
View Research has segmented the global military radar market on the basis of
radar type and region:
Military Radar Type Outlook
(Revenue, USD Million,2014 - 2024)
- Ground based
- Naval
- Airborne
- Space based
Military Radar Regional Outlook
(Revenue, USD Million, 2014 - 2024)
- North America
- Europe
- Asia Pacific
- South America
- Middle East &
Africa
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-military-radar-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment