Military Radar Systems Market is Expected to Grow at a CAGR of 5% by 2021

PUNE, India, 2017-Jun-30 — /EPR Network/ — Market Synopsis of Global Military Radar Systems Market: The Global Military Radar Systems Market is expected to grow at a CAGR of around 5% during 2016-2021. The factors driving the market are growing demand of radar for airborne and maritime surveillance, to counter drug trafficking and illegal trespassing, and modification & upgradation of conventional radar systems.

As per the MRFR analysis, factors restraining the market growth are defense budget cuts in several countries, high investment, feasibility issues, and technical and operational challenges.

The development of COTS components and Gallium Nitride (GaN) technology are the emerging trend in the market. Technological innovation is the key parameter where vendors are spending in technology to improving efficiency and reliability.

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Key Players of Military Radar Systems Market:

  • General Dynamics
  • Israel Aerospace Industries
  • Saab AB
  • Selex ES
  • Thales
  • ASELSAN
  • Boeing
  • Harris
  • Lockheed Martin
  • Northrop Grumman
  • Raytheon
  • Terma

Regional and Country Analysis of Global Military Radar Systems Market:

As per the MRFR analysis, the Americas region will continue its dominance in the forecast period. Whereas, APAC will have significant growth and is expected to grow at CAGR of around 5% during the forecast period.

In Europe, several security and space programs have been initiated in partnership with major countries such as France, Germany, Italy and Spain. The European Space Agency and the German Aerospace center have invested in radar technology.

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