This market study report segments the global defense radar systems and technology market by application (land-based, airborne, and naval) and by geography (Americas, APAC, and EMEA). This market report also presents an analysis of the key drivers and challenges that influence the market growth. The key leading vendors identified in the market are Lockheed Martin, Northrop Grumman, Raytheon, Reutech Radar Systems, and Rockwell Collins.
Technavio has released a new market research report on the global radar systems and technology market, which is expected to grow at a CAGR of around 6% between 2016 and 2020. Defense forces are using different radar systems and technologies to detect and track insights and information. S Receivers and transmitters are vital components of a radar system since radio waves and signals are used to locate the requisites. The Americas leads the global radar systems and technology market, and is expected to occupy 50% of the total market share by 2020. The recent increase in this region’s defense budget is a critical factor that will spur the prospects for market growth until the end of the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The market is witnessing a considerable shift toward next-generation military radar systems. These next-generation radar systems are equipped with GaN transmitters and radio frequency tiles. GaN technology increases the power management and temperature tolerance capabilities of radars. They also allow better control over the critical transmit output parameters to increase its radar beam-shaping capabilities,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research
Currently, the land-based segment dominates the global defense radar systems and technology market and account for a market share of nearly 70%. Factors such as the investments in new radar and cyber programs will aid in the growth of this market segment during the forecast period. These radars are counter-fire target acquisition radars, which are capable of detecting, tracking, and locating launchers, incoming rockets, artillery, and mortars to direct counter-battery fire.
Segmentation of market by application 2015-2020 ($ billions)
Source: Technavio, 2016
The key vendors in the global radar systems and technology market are Lockheed Martin, Northrop Grumman, Raytheon, Reutech Radar Systems, and Rockwell Collins. The market is characterized by the presence of well-diversified international and small and medium-sized vendors. The competitive environment is expected to increase due to product extensions, technological innovations, and an increase in the number of contracts and mergers and acquisitions in this market.
A more detailed analysis is available in the Technavio report, Global Radar Systems and Technology Market 2016-2020.
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