Military RADAR Market (By Type: Ground Based, Airborne, Space Based and Naval; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024
Global Military RADAR Market is estimated to reach $10 billion by 2024 with the CAGR of 2.6% between 2016 and 2024. Radar in military is extremely used for air traffic control, surveillance of air and ground, early warning detection of missiles, and navigation at sea, among others. Terrorist scanner radar is used along with camera using ultrasonic frequency and multiple object detection which uses image processing that can achieve higher security at the national borders. Modern ground based radar systems are transportable by individual or by vehicles. Furthermore, many mechanically moving antennas have been replaced by phased arrays which consist of many small computer controlled antennas termed as elements.
Major drivers of the global military RADAR market are technological advancements along with increasing cross border disputes, increasing investments by government, high demand for hi-tech weapons, and rise in R&D activities. Though, economic recession leading to low budget allocation may hinder the growth of the market. Furthermore, untapped markets in growing economies and demand of real time data & high resolution image mapping would provide growth opportunities in the upcoming years.
The military RADAR market is segmented based on the type and geography. By type, it is further segmented into ground based, airborne, space based and naval. North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major sub segments geography. The U.S., Canada and Mexico covered under North America wherein Europe covers U.K., Germany, France, Italy, Russia and others. Asia-Pacific covers China, Japan, India, Australia, South Korea and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include BAE Systems PLC., The Boeing Company, Lockheed Martin Corporation, DRS Technologies Inc., Saab Sensis Corporation, Raytheon Company, General Dynamics Corporation, Harris Corporation, Thales Group and Northrop Grumman Corporation, among others.
The key takeaways from the report
- The report will provide detailed analysis of Military RADAR Market with respect to major segments such as type and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Military RADAR market will be included in the report
- Profile of the key players of the Military RADAR market, will be provided, which include key financials, product & services, new developments, and business strategies
Scope of Military RADAR Market
- Ground Based
- Space Based
- North America
- South Korea
- South America
- Middle East