According
to a new market report published by Transparency Market Research
"Military Radar Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 - 2019," the market is
expected to reach a value of USD 8,440 million by 2019, growing at a
CAGR of 2.9% from 2013 to 2019. Growing demand of radar based systems
in military forces such as the army, navy, air force and also in
space based programs conducted by the defense forces has led to the
increase in demand of military radar. North America was the largest
contributor in the military radar market and accounted for the
highest share in 2012.
Browse
full Military Radar Market Report
at
http://www.transparencymarketresearch.com/military-radar-market.html
There
are several types of radar systems used in the military such as
ground based, naval, air force and space based. In 2012 ground based
accounted for the highest share with a percentage share of 33.5%.
This is because many of the wars or conflicts are fought on land and
to combat such threats land based radar systems are being upgraded.
The air borne segment is expected to grow at the highest CAGR of 3.1%
from 2013 to 2019. This growth is primarily attributed to the growing
advancements in warfare technology and increasing demand of aircrafts
and fighter jets.
Geographically,
North America held the largest market share in 2012. The demand for
military radar systems in North America is primarily driven by the
growing threats from external forces such as the terrorist groups.
North America is followed by Asia Pacific in terms of geographical
market share. The growth in the region is attributed to the growing
developments in the emerging nations such as China, India, Japan and
South Korea among others.
The
U.S. and China together accounted for over 40% of the global military
radar market share and they are expected to maintain their position
throughout the estimated period. China in its bid to emerge to emerge
as the world super power has invested significantly in its defense
forces. This has led to growth in demand for such advance systems in
the country. The radar market in China is expected to grow at a CAGR
of 3.4% during the forecast period.
Top
five players have a combined share of 54% and no player has the
largest share as the market is largely driven by government tenders.
As a result of which military radar market is oligopolistic in
nature. Lockheed Martin Corporation, Northrop Grumman Corporation,
Raytheon, BAE Systems, Boeing, Harris Corporation, Saab Sensis
Corporation, Terma A/S, ASELSAN Inc., and DRS Technologies among
others are some of the key players in the market.
The
market has been segmented as follows for better understanding and to
formulate winning strategies for the market players.
Military
Radar Market
By
types
Ground
based
Naval
Air
borne
Space
based
Browse
full Military Radar Market Report at
http://www.transparencymarketresearch.com/military-radar-market.html
By
geography
North
America
U.S.
Others
Europe
U.K
Russia
France
Italy
Germany
Others
Asia
Pacific
China
India
Australia
Japan
South
Korea
Others
Rest
of the World (RoW)
Brazil
Israel
South
Africa
Others
Browse
Defense and Aeronautics Market Research Reports @
http://www.transparencymarketresearch.com/defense-and-aeronautics-market-reports-21.html
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