The military
radar market is projected to
witness substantial growth over the forecast period on account of increasing
demand for improved security services. Owing to the progress in technology,
many complications such as aging technology and outdated warfare equipment have
been overcome. Rising number of navigation and lightweight radars, which are
executed by Unmanned Aerial Vehicles (UAVs) are the major driving factors in
the military radar market. The military radar systems are projected to have a
significant share of the entire defense sector in the near future.
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Renewal and
modernization programs along with increased procurements for national safety
and security are the major trends influencing market growth. The safety of
radar systems is based on productions, maintenance, radar procurements,
operations, and research & development. Fluctuations in military operations
including global transfer in defense power are expected to restrain market
growth over the forecast period. Dynamic government investment in military and
interoperability communication as well as military budget limitations are
anticipated to hinder the military radar market. Wind turbines are predicted to
pose a danger for weather radars in the military radar market. Major areas of
concern in the market are deployment of missile defense, border, and air radar.
These would negatively impact the military radar market.
The military radar
market can be categorized on the basis of types into ground-based, space-based,
and airborne systems. The market is anticipated to be driven by airborne
systems over the coming years owing to rising security and economic concerns.
Military radar systems are extensively utilized in diverse sections of military
forces such as the army, navy, and air force. In order to overcome the threats
of wars, military radar systems are being continuously upgraded. This
development is mainly attributed to advancements in warfare technology and
growing demand of aircrafts and fighter jets.
North America is
projected to have significant growth in the military radar market on account of
threats from external forces and terrorist groups. Asia Pacific is expected to
have a major market share over the next six years. Countries such as China,
India, South Korea, and Japan are poised to have considerable military radar
purchases over the forecast period. China is expected to make huge investments
in the defense sector in order to emerge as in the overall military radar
market. This is anticipated to boost the regional market demand of military
radar systems over the next six years.
Major players in the
military radar market are Saab Sensis Corp., Terma A/S, BAE Systems, Harris
Corp., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon, DRS
Technologies, ASELSAN Inc., and Boeing. The military radar market is mostly
oligopolistic in nature, as there are no market players with the largest market
share and the market is basically influenced by government tenders.
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