Military Radars Market | Players & Forecast Analysis till 2020

Military Radars Market Worth 13.04 Billion USD by 2020

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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Potential Business Growth of Military Radars Market Hits $15.42 Billion by 2022, at a CAGR of 3.38% from 2017 to 2022

Military Radars Market by Component (Antenna, Transmitter, Receiver, Duplexer, Display, Digital Signal Processor), Platform (Land, Naval, Airborne, Space), End User, Type, Frequency Band, Dimension, Range, Application, & Region - Global Forecast to 2022

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Browse 321 Market Data Tables and 56 Figures spread through 279 Pages and in-depth TOC on "Military Radars Market - Global Forecast to 2022"
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Based on platform, the land segment is expected to account for the largest market share during the forecast period

Based on platform, the land segment is expected to account for the largest share of the military radars market between 2017 and 2022. The increased expenditure on diverse air defense systems by various countries, such as the US, China, Russia, Saudi Arabia, and India, has contributed to the growth of this segment’s market.

Based on range, the long range segment is projected to grow at the highest CAGR during the forecast period

Based on range, the long range segment of the military radars market is projected to grow at the highest CAGR during the forecast period, owing to the increasing use of long range radars for various air defense systems, including in various airborne early warning aircraft.

Based on application, the air & missile defense segment is projected to lead the market during the forecast period.

Based on application, the air & missile defense segment is projected to lead the military radars market during the forecast period. The growth of this segment can be attributed to increased investments by countries, such as the US, China, Iran, India, Russia, North Korea, and France for the development of advanced missile defense systems.

Based on region, Asia Pacific is projected to lead the military radars market during the forecast period.

The Asia Pacific region is projected to lead the military radars market from 2017 to 2022. This region is expected to account for the largest share of the military radars market during the forecast period. Regional tensions and increase in the defense spending of emerging economies are factors fueling the growth of the military radars market in the Asia Pacific region.

Northrop Grumman (US), Raytheon (US), Saab (Sweden), Israel Aerospace Industries (Israel), Leonardo (Italy), Lockheed Martin (US), Terma (Denmark), and BAE Systems (UK) are some of the key players operating in the of military radars market.

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