Global Military RADAR Market size is projected to be valued $10 Billion by 2024; with a CAGR of 2.5% from 2017 to 2025. Military RADAR is highly used for air traffic control, early warning detection of missiles, navigation at sea, surveillance of air and ground and many others. Terrorist scanner radar is another important application is which is used along with camera using ultrasonic frequency and multiple object detection to achieve higher security at the national borders.
Technological advancements along with increasing cross border disputes and high demand for hi-tech weapons are fueling the demand for the military RADAR market. Moreover, increasing investments by government and increased R&D activities are also expected to boost the growth of the market. However, economic recession leading to low budget allocation may hinder the growth of the market. Furthermore, untapped markets in growing economies and demand of real time data & high resolution image mapping would provide growth opportunities in the upcoming years.
The military RADAR market is segmented based on the type and geography. By type, it is further segmented into ground based, airborne, space based and naval.
By geography the military RADAR 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.
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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Scope of the Global Military RADAR Market