Radar Systems and Technology by Market Size – Forecast and Assessment until 2021 by Technacio

LONDON–(BUSINESS WIRE)–The global radar systems and technology market is expected to grow at a CAGR of more than 4% during the forecast period, according to Technavio’s latest report. In this report, Technavio covers the market outlook and growth prospects of the global radar systems and technology market for 2017-2021. The market is segmented on product type, which includes ground-based, airborne, naval, and space-based. The ongoing territorial and maritime disputes have propelled countries to focus on military arsenal expansion and upgrade their existing fleet of military aircraft, naval vessels, and military land vehicles. Old and new military platforms are being integrated with radar systems to navigate, gather information, and identify targets. The evolving nature of modern warfare demands the implementation of advanced radar systems to ensure an effective defense and surveillance mechanism.

Technavio’s aerospace and defense research analysts categorize the global radar systems and technology market into the following segments by regions:

  • Americas
  • EMEA
  • APAC

Americas: radar systems and technology market

North America leads the global military market in terms of expenditure and technological advances. The region generates a very high demand for radar systems.  Companies such as BAE Systems and Lockheed Martin have developed several advanced radar systems that enable effective monitoring and surveillance for the ground, aerial, and naval forces in the region,” says Moutushi Saha, a lead analyst at Technavio for research on defense.

For many years, the US has been leading in military spending and is continuously transforming the way its military units perform on the battlefield. Moreover, with the use of a wide range of technologies, the US Armed Forces has become highly efficient and possess increased combat capabilities.

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Radar systems and technology market in EMEA

In recent years, EMEA has been plagued with various conflicts such as the political crisis in European countries, such as Cyprus, Greece, Ireland, Portugal, and Ukraine, and the increasing turbulence in the Middle East and North Africa. Such growing technology-based asymmetrical threats have accelerated the development of many radar systems in EMEA,” says Moutushi.

Due to the rise in terrorist activities by the Islamic State in the Middle Eastern countries, Russia and the UK have adopted several defensive and counter warfare strategies to counteract these threats. Also, with the return of NATO deployments in the disputed regions of Iraq and Afghanistan, the market is expected to post a steady growth rate  during the forecast period.

Radar systems and technology market in APAC

The military radar systems  market in APAC is expected to gain momentum during the forecast period due to the growing territorial and maritime conflicts. The increasing defense budgets have propelled countries, such as China, India, Australia, and Japan, to enhance their inventory of arms and weapons as well as associated military products.  The growing arms race between the western and eastern countries is expected to provide a major push to the market. The space war between China and the US has led to the initiation of new programs that are major contributors to the market growth. China has been actively pursuing projects in the field of space-based radar systems.

The top  vendors in the global radar systems and technology market highlighted in the report are:

  • BAE Systems
  • Lockheed Martin
  • Northrop Grumman
  • Raytheon
  • Thales

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