The main objective of this report is to define, describe, and forecast the global “Military Radar” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global military radar market is projected to grow at a CAGR of 7% over the forecast period of 2018-2024.
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Growing need for means of early identification of target is promoting growth in military radar market.
Persistent development in Radio Frequency technology and growing need for means of early identification of target is promoting the growth in military radar market. The adoption of military radars for the avoidance of aircraft collision contributes to the market growth military radar system. Moreover, in the battlefield the need of high-resolution imaging radars used for detecting fixed and moving targets. This is anticipated to stimulate growth in the military radar industry. Increase in the Demand for Lightweight Radars and Target Recognition, Government Procurement, and improved reliability are providing several opportunities in Military radar. In addition, the need for integration of defense equipment such as aircraft, naval vessels, helicopters, armored vehicles, as well as UAVs is leading the military radar market to grow rapidly. However, growing cyber, warfare and the high cost of space-based radars are major factors hampering the growth of military radar over the forecast period. Moreover, constantly changing technology and evolution of new designs and increasing demand for hi-tech defense are providing opportunities for the military radar system.
Raytheon Anschütz announced new Naval Radar NX software
In OCTOBER 2018, Raytheon Anschütz, a leading naval system integrator, announced a revolutionary new radar software for naval vessels, from patrol boats to large combatants, the company unveiled at Euronaval 2018.
Synapsis Naval Radar NX is a state-of-the-art navigational radar software enhanced with tactical features. It is based on a core IMO radar display that offers optimized performance in tracking and anti-clutter processing. In order to support special naval tasks and mission, Raytheon Anschütz has implemented tactical and advanced naval features into the radar software. This makes Naval Radar NX an effective application for both, safe navigation and tactical operation, realized within a single user interface.
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André Moritz, Segment Manager for Naval Combatants at Raytheon Anschütz, said that With Naval Radar NX we offered a high-resolution 360-degree navigation and situation awareness radar, which improved the capabilities of a naval platform a lot. Customers can also save space, cost, and training effort for the crew.” Naval Radar NX is IMO type-approved in combination with various market leading navigation and surveillance radars in order to support demanding operational requirements as well as fleet-wide commonality and logistics.
The North America region to contribute its growth in military radar market.
Geographically, the North America region held the leading market share in the global military radar and boosting the overall demand in national defense forces. While the U.S is a key contributor to the revenue generation and has one of the most powerful military forces in the world. Countries including the China, Russia, Europe, Asia-pacific Latin America, and India are among the largest driving countries over defense systems.
The major key players in military radar Market are Raytheon Company, Lockheed Martin Corporation, Harris Corporation, The Boeing Company, Saab Sensis Corporation, Terma A/S, Northrop Grumman Corporation, ASELSAN A.S., Israel Aerospace Industries, and BAE System PLC.
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