Land-based Military Radar Global Market Projection Is Expected To Grow With A CAGR Of 3% In Forecast Period 2019-2024

Land-based Military Radar market - 2019-2024

Land-based Military Radar market – 2019-2024

The Military Radar Market is segmented by Application (Ground-based Radars, Naval Radars, Airborne Radars, Space-based Radars) and Geography.

PUNE, MAHARASHTRA, INDIA, November 21, 2019 /EINPresswire.com/ — Land-based Military Radar market – 2019-2024

Market Overview
In many cases, the demand for the land-based systems will be replacement-based, as countries will be seeking to replace their old outdated systems, mostly from the Soviet era. This replacement trend will be prominent in countries like Japan, South Korea, and Eastern European nations, where a spike in defense budgets is evident. The market is expected to register considerable growth, driven by higher military spending in Asia-Pacific. Military vehicle electronics act as a communication bridge between troops and ground station personnel. A much greater emphasis has been put on the vehicle-mounted Land-based Military Radar, communication, and networking systems. These efforts fit nicely into the kind of technologies and products offered by the military embedded computing industry.

The military radar market is projected to grow at a steady pace, with a CAGR of over 3%, during the forecast period.

Advancements in range, detection, identification, and integration with other sensors, and adaptability to new missions, platforms, and environments are driving the demand for new military radars across the world.
Growth in defense spending is supporting the market's growth.
The increasing use of UAVs, advanced ballistic missiles, and electronic warfare systems have forced several countries to enhance their radar capabilities.

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Scope of the Report

Radars are used by armed forces for surveillance, to find targets and track their movements, and direct other weapons or countermeasures against them. Military radars are also used for navigation and as weather radars. The study includes radars used by the Navy (coastal radars, ship-based radars), Air Force (weather navigation radar, airborne radar, precision approach radar), Army (perimeter surveillance radars, long-range surveillance radars, fixed and movable land radars), and in space applications.

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Key Market Trends

Airborne Radar Segment will Register the Highest CAGR During the Forecast Period

Over the years, the number of aerial attacks, globally, has increased and has led to significant investments on airborne radars. The increasing use of stealth aircraft and tactical UAVs is likely to support the growth of this segment even during the forecast period. The cost-effectiveness and ease of operations of unmanned platforms, when compared to manned platforms, have aided the rapid adoption of these unmanned systems in defense applications (for both surveillance and attack operations). Unmanned platforms are largely being deployed by military organizations in conflict regions across the world. Also, Tethered Aerostat Radar Systems are being used as a low-level airborne ground surveillance system in few countries. Such large-scale investments in R&D and the procurement of unmanned systems will continue to drive the military airborne radar market.

Large Investments on Military Radars is Expected from Countries Based in Asia-Pacific

The United States and Israel are the two key countries in terms of both production and operation of unmanned platforms and associated components. Currently, several countries in the Middle East and Asia (China, India, Iran, and Pakistan) are also spending on the indigenous development of UAVs and associated components for military applications. As of 2018, North America holds the major share in the military radar market. However, rising political tensions in Asia and the Middle East will result in countries based in these regions to procure and modernize their existing radar capabilities in the next few years. China, India, and Saudi Arabia are likely to generate the highest demand for military radars in the next few years.

Budget Cuts and Military Downsizing

In 2018, North America had the highest share of the market; however, military budget cuts in the United States are likely to impact the market immensely by 2019. The Budget Control Act, passed by the United States Congress in 2011, aims to cut USD 487 billion from the overall military spending in the next 10 years, with an additional sequestration of USD 495 billion by the government because of short-term fiscal concerns. Amidst a challenging budgetary environment, the United States military sector is faced with the challenge of reducing costs while procuring, maintaining, and enhancing the military communications and man portable electronic warfare systems.

Increased Land-based Military Radar Spending in Developing Market

The military is evolving at a faster rate, propelled by developments in industry and by the cutting-edge capabilities emerging from Pentagon research organizations like the Defense Advanced Research Projects Agency.

APAC is expected to grow significantly as compared to the other regions. It consists of countries with high military expenditure, such as India and China. With geopolitical tensions in the South China Sea, and border issues in multiple countries, procurement of Land-based Military Radar is expected to increase across the region. China, South Korea, Japan, and Indonesia are the key growth countries in this region.

Raytheon Company, Thales Group, BAE Systems, and IAI are some of the prominent players in the military radar market. The market is highly fragmented and depends on the government's long-term contracts. Innovation is a major strategy adopted by these players to maintain their market dominance. Few players have also formed partnerships and acquired smaller electronics firms to enlarge their product portfolio, as well as to expand into a new market. Technical expertise and investment in R&D are some of the factors that are expected to help the players expand their market presence.

Table of Content: Land-based Military Radar

1 Study Coverage

2 Executive Summary

3 Breakdown Data by Manufacturers

4 Breakdown Data by Type

5 Breakdown Data by Application

11 Company Profiles

12 Future Forecast

13 Market Opportunities, Challenges, Risks and Influences Factors Analysis

14 Value Chain and Sales Channels Analysis

15 Research Findings and Conclusion

16 Appendix

Continued …

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Source: EIN Presswire