According to a new market research report published by Credence Research “Military Radar Market (By Type (Ground-based Naval-based, Airborne, Space-based) Growth, Future Prospects and Competitive Landscape, 2017-2025”, military radar market is estimated to grow at a CAGR of 3.2 % from 2017 to 2025.
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At present, many countries across the globe are facing dramatic situation related to national security. Governments are striving extensively to enhance their warfare and surveillance techniques to safeguard their country. Surveillance and detection play a major role in modern warfare. Radar is one such device used extensively for surveillance. A radar system usually operates in the ultra-high-frequency (UHF) or microwave part of the radio-frequency spectrum and is used to detect the position and/or movement of objects. Persistent development in electronics has expanded the range and capabilities of modern day surveillance system including military radar system. Countries are adopting new and improved radar system for enhancing their surveillance capabilities. The radar system can have a direct impact on the security of their country. Consequently, military radar market is expected to grow at a consistent rate in the following years.
Countries including the U.S., China, Russia, the U.K., and India are among the largest spending countries over defense systems. Due to continually rising efforts towards strengthening their defense capabilities, the demand related military equipment is is projected to remain strong throughout the forecast period. This would further boost the demand for military radar systems in the following years. The demand for military radar system is also driven by the rising territorial disputes amongst many countries worldwide. The continuous threat from neighboring countries has forced the governments of different nations to procure hi-tech weapons and surveillance system in order to curb the increasing security concerns. Perpetual development in electronic has remarkably impacted the modern day radar system. The military radar system has become more powerful, efficient and lightweight than ever. In addition, merits such as accurate tracking, detection, mapping, and stealth system warning has encouraged further proliferation of radar system in defense sector.
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Military radar market is segmented according to their type and geography. On the basis of types, military radar is classified into ground-based, navel-based, airborne and space-based. As of 2016, the ground-based radar system dominated the overall market for the military radar system.
Military radar market is quite consolidated in nature characterized by a few companies dominating the overall military radar market. These companies face a cut throat competition in order to maintain their market position. The companies consistently strive to upgrade their product capabilities by enabling them to operate on a wide range of radio frequency. Major players in the market include Lockheed Martin Corporation, BAE Systems, General Dynamics Corporation, Airbus Group, Raytheon Company, Thales Group, Northrop Grumman Corporation, Saab Group, Israel Aerospace Industries (IAI),, and Finmeccanica SPA.
Increasing demand for hi-tech defense and surveillance system.
Perpetually changing technology and evolution of new designs of the military radar system.
Increasing investments by the various governments for strengthening national security.
Rising territorial disputes and terrorist activities.
The complete report is available at http://www.credenceresearch.com/report/military-radar-market
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