Published on : Jul 21, 2016
The rising demand for hi tech artillery, devices, and arms are causing a need for military radar for naval, air borne and space-based sectors. Technological advancements are expected to increase the demand for advanced radar systems. These systems are used across the navy, army, and air force.
According to Transparency Market Research (TMR), the global military radar market is exhibiting a 2.90% CAGR between 2013 and 2019. The market in 2012 value at US$6.9 bn and will rise to US$8.4 bn by 2019.
Major Share Held by China and U.S in Military Radar Market
China and the U.S have held significant shares of the market in the past and are expected to continue to maintain their leading positions in the future. In the coming years, North America is thus expected to lead in the market, followed by Asia Pacific.
By type, the global military radar market is expected to be led by the airborne segment, overshadowing the ground based military radars segment, which was leading in 2012. A growth in the airborne segment is expected owing to pioneering or research and development activities. These research and development activities are leading to innovation in terms of design and usage, which is boding well for the airborne segment in the global military radar market.
Rising Demand for Border Protection to Escalate Demand for Military Radar
Almost all countries today are facing one or more than one of the issues such as terrorist attacks, trespassing, drug trafficking and trafficking of firearms. These issues are driving the need for border security with powerful electronic fence system. Countries are thus adopting radar technology for maximizing surveillance and preventing anything illegal. This is boosting the global military radar market. Strategic Alliances between companies are also contributing to the growth of the global military radar market.
On the other hand, wind turbines interfering with the signal of military radar will act as a hindrance for the proper functioning of these systems. The impact of this issue is expected to diminish with innovations and developments in the military radar technology.