Military Radar Market Research Report and Forecast up to 2020 Military Radar Market - Global Industry Analysis,

Military
Radar
Market
-
Global
Industry
Analysis, Market Size, Share, Growth, Trends,
and Forecast 2016 - 2024
Global Military Radar Market: Snapshot
Radar systems are crucial in the detection of bombs and landmines that are not
visible to the naked eye. One of the key products in high demand within the global
military radar market are lightweight radars due to their immense potential in
domestic defense. Additionally, the global military radar market is currently being
driven heavily by an increase in spending by countries to beef up their border and
domestic defenses. Several current affairs in the world regarding civil unrest and
terrorism are prompting multiple countries to amplify their defensive arrays, of
which military radars form an irreplaceable component. However, the growing
number of wind turbines being implemented in the world are a key hindrance to the
use of military radars, as the movement of turbine blades can significantly degrade
radar reception.
The global military radar market is expected to reach US$9.36 bn by the end of
2024. It is projected at a CAGR of 2.4% within a forecast period from 2016 to 2024,
in terms of revenue. By the end of 2016, the global military radar market is
expected to reach US$7.78 bn.
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radar-market.html
North America to Continue Leading Demand for Military Radars
Geographically, the global military radar market can be segmented into North
America, Europe, Asia Pacific, and Latin America, and the MEA region. In 2015,
North America held the leading share in the global military radar market. This region
holds the leading volume of defense related sanctions, boosting the overall demand
for radar in national defense forces. The U.S. has one of the most powerful military
forces in the world and is a key contributor to the revenue generation within the
global military radar market. Both the U.S. and Canada have invested significantly
in the radar technology and are likely to continue doing so over the next few years.
North America was followed by Asia Pacific in terms of geographical share in value
in the global military radar market, for 2015. The growth in this region is owed to
the booming volume of defense activities carried out by nations such as China,
India, South Korea, and Japan. APAC nations are currently facing serious issues on
the infiltration front which is the key reason for the high defense budget allocations