Military Radars Market Worth 13.04 Billion USD by 2020
PUNE, India, February 15, 2016 /PRNewswire/ --
The report "Military Radar Market by Platform (Ground Based, Naval, Airborne, Space Based), Band Type (X & Ku Band, L & S Band, Others), Application (Weapon Guidance System, Surveillance) & Geography - Global Forecast to 2020", published by MarketsandMarkets, the market is estimated to be valued at USD 11.02 Billion in 2015 and is projected to reach USD 13.04 Billion by 2020, at a CAGR of 3.42% from 2015 to 2020.
Browse 81 market data Tables and 79 Figures spread through 162 Pages and in-depth TOC on "Military Radar Market"
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Increased demand for surveillance and weapon guidance application is the major driver for the military radars market over the globe. Various frequency bands such as X-band, Ku-band, S-band, L-band, and others are used for the military radars.
Ground Based radars segment is expected to be the major contributor to the overall military radars market
Ground-based radars systems are capable to get real-time information in warfare situations. To locate unexploded ordinance and tunnels, ground-based system is very effective. Movement near exterior walls, critical infrastructure, and building can be traced using ground-based systems. Ground-based radars are used along with airborne, naval, and satellite platform radars for target integration. Ongoing war against ISIS in Syria, Al-Qaeda in Afghanistan, and conflicts in Crimean peninsula are driving the demand for ground-based military radars.
Weapon guidance application registered the highest growth
Weapon guidance system application of military radars depends upon tracking function of military radar system. The defense requirements and high accuracy needs of military forces around the globe expect improvement in the accuracy and precision of military radars. This is one of the prime factors for increased demand for precision guided systems. Laser guidance, ground reference, and other reference systems used for weapon guidance use various types of radar for functioning. Their increased use is also a promising driver for the military radars market.
Asia-Pacific region to witness highest growth in military radars market during the forecast period
In 2015, Asia-Pacific is expected to have the second-largest market share and highest growth rate in the global Military Radars Market. Existence of intercountry conflict over the disputed area of South China Sea is a major factor that is compelling the authorities to increase naval surveillance capabilities in the affected region. The involved countries such as China, Taiwan, Vietnam, Malaysia, Brunei, and the Philippines have competing territorial and jurisdictional claims, particularly over rights to exploit the regions extensive reserves of oil and gas. High growth in military expenditure and modernization of surveillance and battle systems is driving the radar market in India. For instance, the Indian Navy finalized the naval satellite for testing, prior to being shipped abroad and orbited on a non-Indian launch system, which is equipped with advanced radar systems.
The Brazilian Army is also spending huge amounts over sensors and remote sensing and command & control systems for defense, which is driving the radars market in the country.
The major players in the military radars market are Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Raytheon Company (U.S.), Saab Group (Sweden.), and Thales Group (France), Airbus Group (Netherlands), BAE Systems (U.K.), General Dynamics Corporation (U.S.), Israel Aerospace Industries (IAI) (Israel), and Finmeccanica SpA (Italy).
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The report segments and analyzes the military radars market by platform (ground-based, naval-based, airborne, space-based), by band (X-band & Ku-band, L-band & S-band, other band), by application (weapon guidance system, surveillance), by region (North America, Europe, Asia-Pacific, Middle East & Africa, RoW)
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