Global Military Radar Market to Rise at a CAGR of 2.90% from 2013 to 2019 due to Increasing Terrorism Activities

Transparency Market Research has recently published a research report about the global military radar market. This research report, titled “Military Radar Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” details the key elements of the market such the strengths, weaknesses, opportunities, and threats with the help of SWOT analysis. Furthermore, the research report also highlights the threat of new entrants, the threat of substitute products or services, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competitive rivalry with the help of Porter’s five forces analysis.

According to the research report, the global military radar market stood at US$6.9 bn in 2012 and is anticipated to reach US$8.4 bn by 2019, registering a CAGR of 2.90% between 2013 and 2019. According to the analysts, the key growth driver for the global military radar market is the mounting pressure for increasing national security on the majority of countries across the globe. Furthermore, this market is also being fueled by the ambition of emerging economies to achieve the goal of becoming superpowers. The increasing adoption of radar technologies in all areas of defense such as naval warfare, air, and land is also expected to propel this market in the coming years.

The global military radar market has been segmented on the basis of the type of military radars and geography. The types of military radars in the market are ground-based, naval, airborne, and space-based. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

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Geographically, North America led the global military radar market in 2012 due to the rising threat of terrorism. Asia Pacific follows the North America military radar market closely due to the significant development of military and industrial bases in countries such as South Korea, China, Japan, and India.

Out of all the types of military radars, the global military radar market was led by the ground-based military radars segment in 2012. The segment held a 33.5% share in the global military radar market in 2012. This dominant share was attributable to the increasing conflicts on land. Meanwhile, analysts predict that the airborne military radar segment will grow at a CAGR of 3.1% from 2013 and 2019 due to the pioneering activities carried out through research and development activities and innovative approaches.

Some of the top players in the global military radar market are Lockheed Martin Corporation, DRS Technologies, Terma A/S, Harris Corporation, ASELSAN Inc., Saab Sensis Corporation, Raytheon, Northrop Grumman Corporation, and BAE Systems. The research report has analyzed these companies in great detail to offer an insightful take on the competitive landscape of the market. Additionally, the research report also offers an evaluation of the company profiles, financial overview, investment outlook, research and development strategies, business and marketing strategies, and product portfolios of the key players in the market.

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This release was published on openPR.