A recent report published by Infinium Global Research on military radar market provides an in-depth analysis of segments and sub-segments in global as well as regional military radar market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional military radar market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global military radar market. According to the report, the global military radar market is projected to grow at a CAGR of 7% over the forecast period of 2018-2024.
military radar market is a device that is mainly used for early detection of missile and it detects an accurate target. Moreover, military radar market support for surveillance across the border throughout the day and night and in extreme weather conditions. There has been significant growth in radar systems, which are being widely used across different sections of the military forces such as army, navy, and air force. Different categories used in radar systems such as ground-based, airborne, naval, and space-based.
Persistent development in Radio Frequency technology and growing need for means of early identification is driving governments across the globe to adopt this system. military radar market in the battlefield provides high-resolution imaging, used for detecting fixed as well as moving targets in order to track their location and speed of movement. Moreover, the adoption of military radars for the monitoring and avoidance of aircraft collision contributes the market growth. In addition, the military radars can now be retrofitted with defense equipment such as aircraft, naval vessels, helicopters, armored vehicles, as well as UAVs for guidance. However, growing cyber attacks and the high cost of space-based radars are the major factors hampering the growth of military radar market over the forecast period. Moreover, constantly changing technology and evolution of new designs and increasing demand for hi-tech defense & lightweight radars are boosting the growth of the military radar market system.
Among the geographies, North America held the leading market share in the global military radar market and boosting the overall demand in national defense forces. While the U.S is a key contributor to the revenue generation and has one of the most powerful military forces in the world. Countries including China, Russia, Europe, Asia-pacific Latin America, and India are among the largest driving countries over defense systems.
The report on global military radar market covers segments such as type, and dimension. On the basis of type, the global military radar market is categorized into ground-based radars, naval radars, space-based radars, and air based radar. On the basis of dimension, the global military radar market is categorized into 2D radars, 3D radars, and 4D radars.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, the U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the military radar market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global military radar market such as Raytheon Company, Lockheed Martin Corporation, Harris Corporation, The Boeing Company, Saab AB, Terma A/S, Northrop Grumman Corporation, ASELSAN A.Ş., Israel Aerospace Industries Ltd., BAE Systems plc, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global military radar market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of military radar market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the military radar market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the military radar market to understand the present and future trends in this market and formulate their strategies accordingly.
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