Radar Systems Market Worth 26.37 Billion USD by 2021
PUNE, India, August 15, 2016 /PRNewswire/ --
The report "Radar Systems Market by Technology (CW Radars, Pulsed Radars), Application (Defense, Commercial), Range (Short, Long, Medium), Component (Antenna, Receiver, Transmitter), Frequency Band (L, X, C, S) and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is expected to grow from USD 20.29 Billion in 2016 to USD 26.37 Billion by 2021, at a CAGR of 5.39% from 2016 to 2021.
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Browse 95 market data Tables and 73 Figures spread through 182 Pages and in-depth TOC on "Radar Systems Market"
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Factors, such as increased usage of radar systems in unmanned vehicles and homeland security, are expected to drive the growth of the radar systems market.
The pulsed radars segment is estimated to lead the radar systems market in 2016
The pulsed radar segment led the radar systems market in 2016. This growth can be attributed to the fact that pulsed radar systems aid in efficient and accurate object detection and estimation of its range.
Commercial is expected to be the fastest-growing segment of the radar systems market during the forecast period.
Based on application, the radar systems market has been segmented into defense and commercial. The commercial segment is expected to lead the radar systems market. This can be mainly attributed to the increasing demand for radars across various industries, such as automotive and oil & gas.
North America is projected to be the largest market for radar systems market.
The North American region is projected to lead the Radar Systems Market, owing to various technological developments in radar systems and the presence of key players in the region. The Asia-Pacific radar systems market is expected to grow at the highest CAGR, due to disputes and unrest in some countries in the region, which has led to the increased procurement of surveillance systems. Countries such as China, India, and Japan have invested significantly in coastal surveillance and weather detection capabilities.
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Lockheed Martin Corporation is one of the key players in the radar systems market
Lockheed Martin (U.S.), Rockwell Collins (U.S.), Saab Group (Sweden), BAE Systems (U.K.), Rheinmetall AG (Germany), and General Dynamics (U.S.) are among the key players operational in the radar systems market. Market share analysis has been carried out by tracking all the products of the key market players, their geographical presence, and recent developments.
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