$12Bn Military Radar System Market Poised for Growth Due to Near-Peer Rivals' Expenditure

The $12bn Military Radar System Market is set to grow by 2.43% in the 2019-2029 period. This is in large part due to near rival fielding of more signature managed systems, as well as the Western pivot from asymmetrical threats to more conventional threats, including those fielding aerial forces and signature management capabilities. Proliferation of active protection systems will further drive this, as will new missile threats and sensor fusion integration. This report is key to those in the value chain when it comes to military radar systems as well as systems integrators.

An integrated radar system is a necessary component of any functioning military. This spans across three areas which also compose the submarkets of this report. The three areas include Airborne forces, Ground based forces and Naval forces. This report is intended to be an overview and insight survey of the market for military radar systems. This report offers national market data, as well as key analysis of the leading companies within the market. Contemporary security challenges in key regions will also drive spending in this area. Given the utility of radar systems in offering overviews of current operations, maintaining secure perimeters and airspaces, and in general offering intelligence to a combat environment, spending in this area will continue. With theatres of operations ranging from Syria, where multiple nations’ aircraft all operate, through to the South China Sea region, military radar systems will be utilised as the primary means of detection and surveillance of airborne assets. Military radar systems assume a central position in the assets employed by military organisations. As such, stable growth can be expected for this market. In turn, specific emerging economies undergoing military modernisation will also increase spending. With technical developments in the market also driving spending, the outlook for this market is highly positive.

The report analyst commented "The Global Military Radar System Market is expected to reach US$ 12.23bn in 2019, up 2.09% from 2018. The market for Military Radar is expected to witness CAGR growth of 2.43% over the forecast the period 2019-2029, reaching US$ 15.55 Bn in 2029 as the number of applications including surveillance, target tracking, and shell tracking for radar across the operational spectrum (from tactical to strategic) is increasing. During the period 2019-2029, Military Radar demand will be growing at a steady rate owing to geopolitical rivalry and regional tension is increasing."

This Military Radar System Market report will save you time, increase your industry knowledge, enhance your presentations and inform your investment decisions. This report is vital for Military & Aerospace Electronics manufactures, system integrators, technology providers, software development companies, companies operating in electronics, Aerospace and defence sectors, technology providers, CEOs, asset managers, grid security vendors, heads of strategic development, marketing staff, market analysts, departments, analysts and consultants, managers, governmental departments & agencies.

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Source: ASDReports - Market Research
Date: Mar 12, 2019