Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
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.
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. 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.CLICK TO DOWNLOAD FREE SAMPLE
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.
Our in-depth analysis segmented the global military radar market in the following segments:
Global military radar market is further classified on the basis of region as follows:
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.
The major key players for military radar market are as follows
Overview of the Parent Market
Analyst View
Segmentation
The global military radar market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
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