According to MarketsandMarkets’ research report "Military Radars Market by Component, Platform, End User, Type, Frequency Band, Dimension, Range, Application, & Region - Global Forecast to 2022" , the military-radar market is projected to grow from USD 13.06 Billion in 2017 to USD 15.42 Billion by 2022, at a CAGR of 3.38% during the forecast period. The changing nature of modern warfare is one of the most important factors driving the demand across the globe.
The threat of nuclear ballistic missiles has led to the development of new generation radars for various advanced air defense systems. The changing nature of aerial warfare has also led to the increased acquisition of advanced military radars by various countries, to defend against various aerial and ground threats.
Pertinent Points
- Based on platform, the land segment is expected to account for the largest market share during the forecast period
- Based on range, the long-range segment is projected to grow at the highest CAGR during the forecast period
- Based on application, the air & missile defense segment is projected to lead the market during the forecast period.
- Based on region, Asia Pacific is projected to lead the military radars market during the forecast period.
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.
If you are chomping on the bit for more details, browse 66 data tables and 32 figures spread through 275 pages of the "Military Radars Market - Global Forecast to 2022" report. For more info, contact MarketsandMarkets Inc., Northbrook, IL. 888-600-6441 and/or [email protected]