Military Radars Market to Hit $133 Billion by 2024

DALLAS, TX -- adds The Global Military Radar Market 2014-2024 research report of 186 pages that says territorial disputes, internal security threats and modernization initiatives undertaken by armed forces across the world are also boosting the various countries' expenditure on military radars. Cumulatively, the global market for military radars is expected to value under US$133 billion during the forecast period.

The US is expected to retain its position as the leading military radar market, owing to its aim to maintain the technical superiority, with a dominant share of 41% of total military radar market over the forecast period. The ongoing arms race in the region, fuelled by the increasing defense expenditures of countries such as China, India, South Korea, and Australia among others, is driving the Asia Pacific region to slowly catch up with the US, in terms of demand creation for the military radar systems over the forecast period. Europe, still struggling to emerge out of the economic troubles and the consequent defense budget cuts, is expected to be third largest region for the sector, even though its overall market size is shrinking over the forecast period.

Demand for radars, which is a dependent demand and follows the demand for end products such as aircraft and missile defense systems, is expected to be driven by the major procurement programs in various countries. As such, airborne radar is expected to account for the highest proportion of spending in the global military radar market, riding on the major aircraft and UAV procurement programs and growing demand for air defense capabilities in the countries across the world. Procurement of airborne radars has increased significantly due to their ability to provide cutting edge technological advantages to military aircraft, in support of various missions; these include attack, reconnaissance, and rescue operations. It is followed by ground-based and naval radar sub-sectors, driven primarily by the growing need of anti-ballistic missile systems, and major naval acquisition programs around the world.

The Global Military Radar Market 2014-2024 research report provides competitive landscape and strategic insights Lockheed Martin Corporation, Boeing, Raytheon, Northrop Grumman Corporation, BAE Systems, Harris Corporation, ELTA Systems' Ltd, Accipiter Radar Technologies, ThalesRaytheonSystems, Rheinmetall Defence, Esterline Technologies Corporation, Almaz-Antei, Honeywell International, ASELSAN and Saab Sensis Corporation.

The global Military Radar market is expected to experience a CAGR of 1.05% during 2014-2024. North America and Asia-Pacific are expected to be the largest Military Radar markets, with a cumulative market share of more than 72%. The airborne radar segment is expected to dominate the Military Radar market, with a share of 42.5%. The market is driven by continuous improvements in Radio Frequency and Radar technology as well as ever growing need of early identification of threats in militaries globally. This report offers detailed analysis of the global Military Radar market with market size forecasts covering the next 10years. This report will also analyze factors that influence demand for Military Radar, key market trends and challenges faced by industry participants.

This research provides an in-depth analysis of the following:

• Global Military Radar market size and drivers: detailed analysis of the Military Radar market during 2014-2024, including highlights of the demand drivers and growth stimulators for Military Radar. It also provides a snapshot of the spending patterns and modernization patterns of different regions around the world.
• Recent developments and industry challenges: insights into technological developments in the Military Radar market and a detailed analysis of the changing preferences of the defense ministries around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants.
• SWOT analysis of the Military Radar market: analysis of the industry characteristics by determining the strengths, weaknesses, opportunities, and threats faced by the Military Radar industry.
• Global Military Radar country analysis: analysis of the key markets in each region, providing an analysis of the key segments of the Military Radar industry expected to be in demand in each region.
• Major programs: details of the key programs in each segment, which are expected to be executed during the forecast period.
• Competitive landscape and strategic insights: analysis of the competitive landscape of the global Military Radar industry. It provides an overview of key players, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

Reasons To Buy The Global Military Radar Market 2014-2024 research report:

• This report will give the user confidence to make the correct business decisions based on a detailed analysis of the Military Radar market and to identify emerging/declining markets over the next 10 years
• This report will give the user a thorough fact-based analysis with information about demand for various Military Radar segments in each of the top ten countries and the underlying factors that are driving the demand
• Analysts have placed significant emphasis on the major industries that are driving the Military Radar market, which will provide the user with a clear picture about the future opportunities that can be tapped, resulting in revenue expansion
• The major programs section will inform the user about major programs being undertaken by defense ministries and governments in different segments of the Military Radar market during the forecast period
• Detailed profiles of the top Military Radar manufacturers and service providers around the world with information about their products, alliances, recent contract wins and financial analysis wherever available. This will provide the user with a total competitive landscape of the sector
• A deep qualitative analysis of the global Military Radar sector covering sections including demand drivers, SWOT, industry trends, and latest technological developments

Complete report is available at  

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Ritesh Tiwari
TX, Dallas North - Dominion Plaza,
17304, Preston Road,
Suite 800, Dallas 75252
Tel: +1-888-391-5441
[email protected]

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