Market Research Report
The Global Land-based Military Radar Market 2019-2029
|Published by||GlobalData||Product code||885368|
|Published||Content info||186 Pages
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|The Global Land-based Military Radar Market 2019-2029|
|Published: May 31, 2019||Content info: 186 Pages||
The global land-based military radar market values US$4.8 billion in 2019, growing at a CAGR of 1.71% to value US$5.6 billion by 2029. The cumulative market for global expenditure on land-based military radar is projected to value US$54.1 billion over the forecast period. Expenditure on the sector is expected to be driven by the ever growing demand for early threat detection and situational awareness systems, rising as a result of increasing territorial disputes and internal and external security threats.
The US is expected to account for the largest market, owing to maintain global military supremacy, with a dominant share of 38.8% of total land-based military radar market over the forecast period. The North American market is closely followed by Asia-Pacific region with a cumulative expenditure of US$21.0 billion, majorly accounted by countries such as China, India, Japan, Australia, and South Korea.
The global land-based military radar market includes four segments on the basis of functions which includes air-defense radar, ground and coastal surveillance radar, counter-battery radar and auxiliary radar. Air-defense radar is anticipated to account for the largest share of 51.8%, followed by ground and coastal surveillance radar, counter-battery radar and auxiliary radar with shares of 26.8%, 18.1% and 3.3% respectively over the forecast period.
In terms of segmentation by function, air-defense radar segment is expected to account for the highest spending with a share of 51.8% over the forecast period. The market is primarily driven by the development and procurement of missile and air-defense systems by countries such as the US, China, Russia, India, Japan, and Saudi Arabia. Air-defense radar segment is followed by ground and coastal surveillance radar which accounts for the second largest market with a share of 26.8% over the forecast period. Counter-battery radar accounts for the third largest market with a share of 18.1% over the forecast period. The demand for counter-battery radar is a result of upgrade and replacement of obsolete artillery systems by major defense spending nations such as the US, China, India and Japan, who contribute to approximately 73.9% of the total counter-battery radar market.
The report "The Global Land-based Military Radar Market 2019-2029", offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for land-based military radar equipment, key market trends, and challenges faced by industry participants.
Companies Mentioned: Northrop Grumman Corporation, Lockheed Martin Corporation, Israel Aerospace Industries, BAE Systems plc, Saab AB, The Raytheon Company, Indra Sistemas SA, RADA Electronic Industries Ltd. (RADA), Aselsan, Bharat Electronics Limited (BEL), Thales Group, Almaz-Antey