(PRWEB) June 04, 2014
Air and missile defense radars are used as an early-warning devices which can detect an approaching enemy’s aircraft or missiles from great distances. These radar systems help form a defensive position in the form of Anti-Aircraft Artillery (AAA), missiles, or fighter planes. And the systems must be readily available at any point in time to repel an attack. The sub-segments of the air and missile defense radar market are differentiated by platform segments namely, airborne, naval and land-based air and missile defense radar systems. This provides information and in-depth knowledge about the trends in these sub-segments, and also provides information about top spenders in the air and missile defense radar market.
Browse through the market data tables, figures and detailed ToC on the “Air and Missile Defense Radar Market”.
Asia Pacific Air and Missile Defense Radar Market
The Asia-Pacific air and missile defense radar market is expected to be $2.1 billion in 2014, and is expected to grow at a CAGR of 5.34% to reach $2.9 billion in 2020. The biggest spenders in the APAC region for air and missile defense radar are China, South Korea, India, and Japan, among others. The increasing missile threats, hostile threat from the bordering nations, and the growing technological trend in ballistic missile systems are the key growth factors in the APAC air and missile defense radar market.
North America Air and Missile Defense Radar Market
The North American air and missile defense radar market is estimated to be $1.6 billion in 2014, and is expected to grow at a CAGR of 8.22% to reach 2.7 billion in 2020. The U.S. is the biggest market for the air and missile defense radar system. However, the recent economic scenario has seen defense budget cuts in the U.S. market as well. The air and missile defense market is highly a technology driven market; though the current systems are tested successfully by the market players, their real-time deployment in war zones is limited.
Latin American Air and Missile Defense Radar Market
The Latin American air and missile defense radar market is estimated to be $0.20 billion in 2014, and is expected to grow at a CAGR of 9.64% to reach $0.34 billion by 2020. South America most importantly spends on tackling internal security issues such as drug trafficking, and so on. Brazil is the only market in the region, which holds 75% share in air and missile defense radar market, followed by Argentina and Chile, which hold future market for radar systems in terms of coastal surveillance and other air defense radar systems.
European Air and Missile Defense Radar Market
The European air and missile defense radar market is estimated to be $1.20 billion in 2014, and is expected to grow at a CAGR of 8.06% to reach $2.07 billion by 2020. The U.K., France, Germany, Russia, and Turkey are the major spenders in the region with number of indigenous programs such as medium extended air defense programs and multination MEADS programs. These programs co-developed by Germany, the U.S., and Italy, are gaining importance in the market.
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