The Global Market for Military Radars is Forecast to Reach US$16.8 Billion by 2024

Evolution of Warfare Into Tactical Combat & the Resulting Rise in the Value of Battlespace Awareness Drives Demand for Radars as a Technology Well Suited for Real-Time Information Acquisition, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Military Radars market. The global market for Military Radars is forecast to reach US$16.8 billion by 2024, driven by the increasing use of information technology (IT) in military operations and the resulting expansion of the role of radars in enabling battlespace awareness.

Against the backdrop of the evolving nature of modern warfare, implementation of advanced radar systems are poised to grow strong. Three of the major application areas of military radars poised to witness strong growth include surveillance/ battlefield reconnaissance; automatic enemy target recognition; and tracking systems. Information technology (IT) has not only revolutionized consumer lifestyles and the business sector but has also revolutionized military operations making it smarter and more efficient and effective. Information in modern warfare is assuming a critical role. Battlespace awareness; location certainty of enemy vessels, vehicles, and artillery; real-time information acquisition and dissemination are all vitally important for seamless operations, for making precision strike decisions, and optimum engagement of battle equipment.

All tactical battle units need timely and relevant battlefield information such as place, position, angle and approaching velocity and speed of enemy vehicles and ships. Real-time targeting and strike requires the use of radars which provide visual intelligence. For instance, precision-guided munitions require radar guidance to launch more accurate, lethal and more dispersed attacks. Growing volume of electronic warfare equipment and the resulting decline in the number of critical nodes manned by humans bode well for the growing importance of radars. Radar guidance will become indispensable to long–range surface-to-air and air-to-air guided weapons. Emerging active radar homing guidance technology currently flaunts the ability to operate at a distance of more than 150km. Rise in the number and capability of different types of radar-guided weapons including Radar Guided Missiles and Antiballistic missiles (ABMs) also bodes well for the growth in the market.

Radar based weapons help increase shooting precision, improves ballistic parameters, and firing efficiency by helping detect and eliminate foreign objects such as stones or rockets from the firing range. In the coming years, radars will become vital for improving the efficiency of planning, coordinating, directing and controlling military actions and decisions. Other major factors also expected to drive growth in the market include growing popularity of radar based navigation of military unmanned vehicles; recovering military spending in developed countries and growing military spending as a percentage of GDP in emerging economies; growing security threats and international border tensions and the resulting focus on building military strength.

As stated by the new market research report on Military Radars, the United States represents the largest market worldwide. Asia-Pacific is poised to emerge as the fastest growing market with a CAGR of 4.2% over the analysis period led by growing economies; rising border tensions along the South China Sea as China continues its aggression against its neighbors North Korea, South Korea, and Japan; and increased spending on building military strength and the resulting arsenal expansion including radar warfare systems and technologies.

Major players in the market include Applied Radar Inc., BAE Systems plc, FLIR Systems Inc., Harris Corporation, Honeywell International Inc., Indra Sistemas S.A., Israel Aerospace Industries Ltd., Leonardo DRS, Lockheed Martin Corporation, MACOM, Northrop Grumman Corporation, Raytheon Company, Reutech Radar Systems, Rockwell Collins, Saab Group, Telephonics Corporation, Terma A/S and Thales Group among others.  

The research report titled “Military Radars: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as USA, Canada, Europe (Germany, UK, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa (Algeria, Saudi Arabia, UAE and Rest of Middle East & Africa), and Latin America (Brazil, Chile, and Rest of Latin America). Market segments analyzed in the report include Land Based Radars, Air Based Radars, Naval Radars and Space Based Radars.

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