Increasing investments by government to promote growth in the military radar market over 2017 to 2023
Technological advancements along with increasing cross border disputes and high demand for hi-tech weapons are driving the growth of the military radar market. Additionally, the modern military radar system has the capability of surveillance while based on the ground, ships and aircraft carriers, aircraft, and on space stations. Moreover, the introduction of technologically enhanced radar systems such as Active Electronically Scanned Array (AESA), attached with changing warfare tactics, are also providing a significant growth to the global military radar market.
North America to emerge as the most lucrative market over the next 6 years
North America continues to lead as most lucrative region, serving high volume of demand for military radar owing to strong backing from the government. Omkar Harne a research analyst at Infinium Global Research quoted that Asia-Pacific region captured the second largest market of military radar in 2016 due to rising need for improving border safety. Omkar Harne further stated that the China and India are the major countries augmenting the demand for military radar and positive GDP figures coupled with government initiatives to improve defense across the border is projected to boost the growth of military radar market.
Acquisitions to remain key expansion strategies of the leading players in the military radar market between 2017-2023
The leading companies identified in the market are Daimler AG, Hyundai Trans lead, Paccar, and Volvo. Despite international sanctions, North Korea and Iran have developed missile and nuclear technology for procurement of ground-based radars to partly fuel by the threat of missile attacks. Furthermore, available markets in growing economies and demand of real time data & high-resolution image mapping would provide growth opportunities in the upcoming years.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017 - 2023.
The report provides profiles of the companies in the global military radar market such as, BAE System PLC, Raytheon Company, Lockheed Martin Corporation, The Boeing Company, Harris Corporation, Saab Sensis Corporation, Terma A/S, Northrop Grumman Corporation, ASELSAN A.S., and Israel Aerospace Industries.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global military radar market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of military radar market. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the military radar market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the military radar market to understand the present and future trends in this market and formulate their strategies accordingly.
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