Global Military RADAR Market is Estimated to Reach $10 Billion by 2024, Says Accurize Market Research
Global military RADAR market report published by Accurize Market Research forecast that the global market is expected to reach $10 billion by 2024; growing at a CAGR of 2.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Technological improvements along with increasing cross border disputes to drive the growth of the market
Technological improvements along with increasing cross border disputes and high demand for hi-tech armamentsfuels the demand for the global military RADAR market. Moreover,increasing funds by government and increased R&D activities also boosts the growth of the market.
The global military RADAR market has been bifurcated on the basis of type and geography. By type, it is further segmented into ground based, airborne, space based and naval.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico covered under North America wherein Europe covers U.K., Germany, France, Italy, Russia and others. Asia-Pacific covers China, Japan, India, Australia, South Korea and others. Rest of the World (RoW) covers South America, Middle East and Africa.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted the major share of the market followed by Asia Pacific.Asia Pacific is the fastest growing region in the global military RADAR market, driven by conflicts among countries such as India and Pakistan and increasing terrorist activities.
Top players in the market
The key market players include Saab Sensis Corporation, Raytheon Company, General Dynamics Corporation, Harris Corporation, Thales Group, BAE Systems PLC., The Boeing Company, Lockheed Martin Corporation, DRS Technologies Inc., and Northrop Grumman Corporation, among others.
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