According to the OMR analysis, the global radar market is estimated to grow at a significant rate during the forecast period (2018-2023). The global radar market has witnessed a significant growth due to high expenditure on military and security. Furthermore, increasing government initiatives for building defense infrastructure along with significant investment for curbing the threats from neighboring countries is estimated to foster the market growth. The global radar market is segmented on the basis of type, application, range, and geography. The report provides detailed and insightful chapters on market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis and analyst insights.
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The market on the basis of application is segmented as weather monitoring, automotive, industrial applications, and applications in aerospace and defense. The market is estimated to be dominated by aerospace and defense as this industries continuously require for keeping track of the aircrafts for maintaining the path of the flights and controlling air traffic. Any kind of lapse or miss in aircraft tracking can lead to a catastrophic incident. In addition, there has been an increased demand of drone systems as well as unmanned aerial systems flying high in the air and that are required to be traced for safety purposes. Moreover, the needs of radar in defense industry is very versatile and are needed to fit to diversified demands including naval ship-mounted radar systems, airborne radar systems and vehicle mounted radar systems.
The global radar market on the basis of geography is divided into – North America, Asia-Pacific, Europe, and rest of the world. North America is estimated to hold the largest share and is expected to remain dominating owing to the continuous investment by the government in military radar systems and initiatives taken by the government of the region for enhancing defense infrastructure. Moreover, Asia-Pacific is further estimated to contribute significantly in the global radar market. Asian countries such as China, India, and Japan have made significant investments in coastal surveillance and weather detection capabilities. This contributes to the growth of the radar market in Asia-Pacific region.
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
