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.
In depth research report on 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.
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
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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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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