Air and Missile Defense Radar Market Forecasting 2020 June 2014 | Page 2

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. http://www.micromarketmonitor.com/market/north-america-air-and-missile-defenseradar-2050888716.html 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. http://www.micromarketmonitor.com/market/south-america-air-and-missile-defenseradar-4603345342.html 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. http://www.micromarketmonitor.com/market/europe-air-and-missile-defense-radar7891778404.html Email: [email protected] Tel: [phone]