Technology Military Radar Systems Market Analysis

Your Catalyst To a Lucrative Business Growing safety and security concerns with the nations along with rising investments and defense budgets are expected to spur growth in military radar systems market. Technological advancements in the military radar systems industry are leading to the growth and development of lightweight military radars which is projected to add to the growth of the market over the forecast period. The military radar systems market is estimated to witness growth in demand owing to the escalation in terrorist activities, border intrusions, and inter-country conflicts. Military radars are used for accurate and precise detection, surveillance, tracking, warning, and ground mapping of weapons and aircraft in the war zone. While the market for military radar systems is expected to grow over the forecast period, it remains susceptible to the prevailing economic situations. The result of economic slowdown has affected military spending in many countries, hindering the growth opportunities for defense market at large. European countries, such as Germany, UK, and Russia have observed cut down in defense expenditure owing to the financial crises and macroeconomic conditions. Furthermore, the development of space-based radars involves considerable expenditure on R&D activities, engineering, and production. Hexa Research has segmented the global military radar systems market based on platform, application and region: Segmentation by platform, 2014 - 2024 (USD Billion) • Ground-Based • Naval • Airborne • Space-based Segmentation by application, 2014 - 2024 (USD Billion) • Weapon guidance system • Surveillance Segmentation by region, 2014 - 2024 (USD Billion) • North America • U.S. • Asia Pacific • China • India • Europe • France • UK Key players analyzed • Lockheed Martin Corporation • Boeing • Northrop Grumman Corporation • Raytheon Company • Saab Sensis Corporation Follow Us:

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