Military
Radar Market study is providing you with the up-to-date,
actionable market information and projections with the latest impact of the
Covid 19 outbreak. It offers all the requisite data to support tactical
business decisions and come up with strategic growth plans. This study also
proposes a comprehensive insight into the development policies and plans in
addition to manufacturing processes and cost structures.
Global
Military Radar Market is anticipated to reach USD 13.78 billion by 2024 owing
to the developments in defense welfare due to increasing risk of terrorism.
Radar is an object detection system that transfers electromagnetic waves and
identifies echoes of the susceptible objects nearby to work efficiently and
irrespective of climatic conditions. With a potential of handling &
engaging multiple targets, military radars can perform competently under severe
conditions. Military radars can be easily operated and hence require low
manning.
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Military
radars market is driven by increasing conflicts in territories especially in
Asia Pacific and Middle East regions. Constant innovation in radio frequency
technology and increase in demand for early identification solution is
propelling governments across globe to invest in the radar market. Moreover,
price reduction in defense industry is expected to encourage the market growth
of military radar in near future. However, significant cost of space-based
radars is expected to hamper the progress of the market.
Larger portion
of military radar industry is influenced by regional market players that introduce
numerous opportunities to help the players with their expansion. Also, leading
players are expected to adopt mergers & acquisitions. Military radar market
is categorized on the basis of platform, range, application and geography. On
the basis of platform, the market is divided into naval based, ground based,
space based and air borne. Air borne segment is expected to lead the market of
military radar due to increasing risk of air strike.
On the basis
of range, military radar industry is split into very short range, short range,
medium range and long range. Long range segment is expected to register maximum
growth due to the increasing applications in defense systems. Based on
application, military radars market is divided into airspace monitoring &
traffic management, airborne mapping, air & missile defense, ground force
protection & counter battery, navigation, ground surveillance &
intruder detection, mine detection & underground mapping and weather
monitoring. Air & missile defense segment is projected to hold a larger
market share of military radar due to for the development of enhanced military
products.
Geographically,
military radars industry is segmented as North America, Latin America, Europe,
Asia Pacific and Middle East & Africa. North America dominated the market
of military radar in terms of revenue in past years and is predicted to
continue its dominance owing to technological modernizations in military
radars.
The prominent
players in military radar industry comprise Airbus Group, BAE Systems,
Finmeccanica SPA, Raytheon Company, Israel Aerospace Industries Ltd., General
Dynamics, Northrop Grumman Corporation, Lockheed Martin Corporation, Saab Group
and Thales Group.
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