Growth of Military Radar Market Trends, Share, Industry Size, Opportunities and Forecast 2017-2024 – Research Nester

“Military Radar Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation”

Military Radar Market Overview

Military radar is referred to a device which is used for early detection of missile and it is also used for accurate detection of target. The basic parts of radar include transmitter, duplexer, receiver, radar antenna and indicator. Military radar helps for surveillance across the border throughout the day and night and in extreme weather conditions also. Military radars are easy to operate and low manning is required.

Market Size and Forecast

The global military radar market is expected to grow at a CAGR of 4.8% over the forecast period i.e. 2017-2024. Additionally, the factors propelling the growth of military radar market includes growing security concerns coupled with increasing defense budgets across the globe. Moreover, advancement in radar technology is believed to foster the growth of military radar market. The Global Military Radar Market is segmented into platform, application and region.

Request Report Sample @ https://www.researchnester.com/sample-request/2/rep-id-508

Further, platform type is sub-segmented into ground based, naval based, airborne and space based. Likely, airborne segment is believed to be the largest segment in overall military radar. This growth of airborne segment is attributed to the rising risk of air strike. In terms of regional platform, North America region accounted for the largest market for military radar in terms of revenue in 2016. Further, North America is expected to continue its dominance over the forecast period owing to technological advancements in the field of military radar. Additionally, U.S. is the dominating country of military radar market due to rising investments by government to enhance defense infrastructure. Moreover, presence of major key players of military radar in North America region is believed to foster the growth of military radar market

Asia-Pacific region captured the second largest market of military radar in 2016 due to rising need for improving border safety. Asia-Pacific region is the most lucrative market due to emerging economies such as China and India. Moreover, China and India are the major countries augmenting the demand for military radar due to growing territorial disputes. Likely, positive GDP figures coupled with government initiatives to improve defense across the border is envisioned to propel the growth of military radar market.

Request for TOC Here @ https://www.researchnester.com/toc-request/1/rep-id-508

Europe region is also projected to show a tremendous growth over the forecast period. Further, the growth of Europe military radar market is riding on the back of growing adoption of multi-function radars. Further, U.K. is believed to be the major contributor in the market of military radar over the forecast period.      

By Region

Global military radar market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis

Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis

Europe (U.K., Germany, Turkey, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis

Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.

Middle East and Africa (GCC, Israel, North Africa, South Africa, Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Buy This Premium Reports Now @ https://www.researchnester.com/payment/rep-id-508

Growth Drivers and Challenges

Factors such as growing concerns regarding border security across the globe and continuous threat from neighboring countries have forced the governments to procure a hi-tech weapon which in turn is expected to flourish the growth of military radar market by the end of 2024. Moreover, miniaturization and automation of surveillance and defense systems is projected to flourish the growth of military radar market around the globe. Likely, growing demand for military radar for weapon guidance system is predicted to boost the demand for military radar.

Furthermore, rising government initiatives to build defense infrastructure coupled with huge investment by government to curb the threats from neighboring nations is projected to bolster the growth of military radar market. Additionally, growing research and development activities by major key players to provide effective surveillance product and modernization of existing military radar systems are garnering the growth of military radar market.

However, high cost of space-based radars is expected to hinder the growth of military radar market over the forecast period. Moreover, growing cyber warfare is also one of the major factors hampering the growth of military radar market.

For more details visit @ https://www.researchnester.com/reports/military-radar-market/508

Research Nester is a leading service provider for strategic market research and consulting, serving clients from 120+ countries across the globe. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties. 

Contact for more Info:

Name:- Ajay Daniel   

1820 Avenue M, Suite# 1113,

Brooklyn, New York 11230

Email: ajay.daniel@researchnester.com

U.S. +1 646 586 9123

U.K. +44 203 608 5919

This release was published on openPR.