|[September 01, 2014]
Research and Markets: Global Military Ground, Naval, Air Borne and Space Radar Market Report 2013-2019 - Top 5 Players Constitute 54% of the Market
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/whnznz/military_radar)
has announced the addition of the "Military
Radar Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2013 - 2019" report to their offering.
Driven by continuous growing threats from both the internal and external
sources, global market for military radar was valued at USD 6,900
million in 2012 and is expected to reach USD 8,440 million by 2019,
growing at a CAGR of 2.9% during the forecast period from 2013 to 2019.
Military radar is classified on the base of ground, naval, air borne and
Growing security concerns and the urge to become world super powers has
supported the growth of the market. The adoption of radar across all
defense forces such as the army, navy and air force has additionally
supported the growth of the market. The growing demand for such systems
can also be attributed to some of the natural calamities that the world
has seen so far. In natural calamities, military radar systems help in
determining the time and degree of an earthquake or tsunami and thus
help in savng lives. It also plays an important role in determining the
location of ships and planes during warfare or drill sessions. During
unforeseen circumstances such as the disappearance of the Malaysian
Airline, the radar plays an important role in determining the location
of plane or the debris. The demand for military radar is also expected
to increase as it helps in target location, detect missile launches and
determine whether it's a friendly air craft or not among others.
Geographically, North America held the largest share in the military
radar market in 2012. North America sanctions the highest budget for its
defense forces which helps boost the demand for radar in the defense
forces. The U.S. has one of the most powerful military forces in the
world. The countries in North America such as the U.S. and Canada have
invested significantly in the radar technology.
In 2012, North America is followed by Asia Pacific in terms of
geographical market share. The growth in the region is attributed to the
emerging nations such as China, India, South Korea and Japan among
others who are constantly strengthening their military forces. Some of
the countries in the Asia Pacific region face some serious issues on the
infiltration front which is also contributing to the growth of the
market. The market is also supported by the substantial purchases of
military radar systems made by the emerging nations.
Due to intense rivalry military radar market is oligopolistic in nature
where top 5 players constitute 54% of the market. Lockheed Martin
Corporation, Northrop Grumman (News - Alert) Corporation, Raytheon, BAE Systems,
Boeing, Harris Corporation, Saab Sensis Corporation, Terma A/S, ASELSAN
Inc., and DRS Technologies among others are some of the key players in
the military radar market.
The global military radar market is segmented as below:
ASELSAN (News - Alert) Inc.
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon (News - Alert)
Saab Sensis Corporation
For more information visit http://www.researchandmarkets.com/research/whnznz/military_radar
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