- The key vendors in the global military radar systems market 2015-2019 are General Dynamics, Israel Aerospace Industries, Saab, Selex ES and Thales
London, 02 November 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global military radar systems market 2015-2019. Growing utilization of COTS components in the aerospace and defense sector has gained traction I the recent years. Utilization of open architecture and COTS components provides system designers with more flexibility regarding the interoperability and transfer of technologies between different platforms. The global military radar systems market is expected to grow at a CAGR of 4.05% during 2014-2019.
The market for military radar systems should grow at a steady rate in the next five years, driven by the rising demand for advanced military radar systems that enhance defense capabilities. The demand from major markets, such as the US and Europe, and also from emerging APAC nations is expected to contribute to the market growth.
“Military radars are crucial during wartime for airborne and maritime surveillance, as they can help detect ballistic missile early and locate and fire at targets with great accuracy,” says Faisal Ghaus, Vice President of Technavio Research.
“Modern military radar systems have advanced features like built-in threat evaluation that advices the military crew to engage the relevant target. Such systems are extremely important in modern asymmetric warfare and are fitted in a military fleet of aircraft, naval vessel, and land vehicles to enhance surveillance capabilities.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Military Radar Systems Market 2015-2019, please send an e-mail to media@TechNavio.com
Follow us on Twitter @Technavio
Like us on Facebook
Follow us LinkedIn
Connect with us on Google+
