Asia-Pacific region to witness highest growth in military radars market during the forecast period
In 2015 , Asia-Pacific is expected to have the second-largest market share and highest growth rate in the global military radars market . Existence of intercountry conflict over the disputed area of South China Sea is a major factor that is compelling the authorities to increase naval surveillance capabilities in the affected region .
The involved countries such as China , Taiwan , Vietnam , Malaysia , Brunei , and the Philippines have competing territorial and jurisdictional claims , particularly over rights to exploit the regions extensive reserves of oil and gas . High growth in military expenditure and modernization of surveillance and battle systems is driving the radar market in India .
The major players in the military radars market are Lockheed Martin Corporation ( U . S .), Northrop Grumman Corporation ( U . S .), Raytheon Company ( U . S .), Saab Group ( Sweden .), and Thales Group ( France ), Airbus Group ( Netherlands ), BAE Systems ( U . K .), General Dynamics Corporation ( U . S .), Israel Aerospace Industries ( IAI ) ( Israel ), and Finmeccanica SpA ( Italy ).
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