Global Radar Market to expand at CAGR of 8.3% during forecast period (2017-2027)

According to a recent market report published by Future Market Insights titled, “Radar Market: Global Industry Trend Analysis 2012 to 2016 and Forecast 2017 – 2027”, the global Radar market was valued at US$ 21.29 Bn in 2016, and is estimated to steadily grow to US$ 50.85 Bn by 2027 from US$ 22.89 Bn in 2017 giving a CAGR of 8.3%. Autonomous car development and privatization of space exploration are the major factors driving growth of the global Radar market.

On the basis of type, the market is segmented into detection and search, targeting radar, weather sensing radar, navigational radar, mapping radar, and others On the basis of application, the market is segmented into Defense & Aerospace, Marine, Weather Forecasting, Remote sensing, and others. On the basis of range, the market is segmented into short range, medium range, and long range. On the basis of platform, the market is segmented into land, naval, airborne, and space.

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This report covers trends driving each segment and offers analysis and insights regarding the potential of the Global Radar Market across different regions. Key regions covered in the report are North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East & Africa (MEA). In terms of value, North America region accounts for the highest CAGR i.e. 9.1% during the forecast year 2017-2027 in the Global Radar Market. In addition, North America is expected to remain the largest market by 2027, followed by Western Europe and APEJ respectively.

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This report covers various Radar providers in the global market. Some of the major providers include BAE Systems, Lockheed Martin Corporation, Northrop Grumman Corporation, Saab AB, Thales Group, General Dynamics Corporation, Harris Corporation, SRC Inc., Honeywell International Inc., and Leonardo S.p.A, Rockwell Collins Inc.

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This release was published on openPR.