London, UK (PRWEB) November 06, 2014
The global military radar market is forecast to grow at 1.05% CAGR during 2014-2024. Demand for military radars is expected to be driven by volatile security situation following the wars in Afghanistan and Iraq, rising tensions between Russia and the Western countries, and ballistic missile proliferation. The cumulative value of the global military radar market is expected to reach close to USD 133 billion during 2014-2024. The USA is expected to keep on dominating the military radar market on a country scale, due to its goal to maintain the technical edge, with a share of just over 40% of the total military radar market in the next few years. The APAC region is expected to slowly catch up with the USA in terms of the creation of demand for the military radar systems in the coming years. Such prospective changes are being driven by the continuous arms race in the region on the back of the increasing defense spending of such countries as India, China, Australia and South Korea, among others. Europe is expected to be the 3rd largest regional market, even though the region’s overall market size is projected to shrink through to 2024.
Demand for radars is expected to be stimulated by the major procurement programmes in various nations. In that context, airborne radar will likely account for the better half of spending in the world military radar market, riding on the major aircraft and unmanned aerial vehicle (UAV) procurement programmes and surging demand for anti-aircraft weapons across the world. Procurement of airborne radars has increased considerably owing to their ability to offer leading-edge technological benefits to military air forces. It is followed by naval and ground-based radar subsectors, fuelled chiefly by the rising demand for anti-ballistic missile systems, and major naval acquisition programmes.
Topical research report “The Global Military Radar Market 2014-2024” developed by Strategic Defence Intelligence (SDI) is now available at MarketPublishers.com.
Title: The Global Military Radar Market 2014-2024
Published: October, 2014
Price: US$ 4,800.00
The research study provides a comprehensive analysis of the worldwide market for military radars. It reviews both historical and current market values, as well as provides detailed forecast data for the industry. The report sheds light on the major drivers of demand and market growth stimulators, most recent developments in the industry and also the key challenges that the top market participants are facing. A SWOT analysis of the military radar market is included. The study canvasses the key regional markets for military radars, gives details of the major programmes to be carried out in the years to come, examines the completion in the world military radar market, besides providing unrivalled insights into the leading industry players, covering their strategic initiatives, key alliances, and financial information.
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More topical market research reports by the publisher can be found at SDI page.