Global Radar Systems Market: RADAR is an acronym for “Radio Detection and Ranging”. Radar systems use radio waves to detect and track objects. Radar systems work in following way, a radio signal is transmitted in a given direction with help of a transmitter and is reflected as an echo from the target, which is accepted by the receiver. Radar systems use ranging and detection techniques to determine distance, speed, velocity or to track the object.
A major factor driving growth of the global radar systems market is increasing adoption of radar technology by military and defense sectors. In addition, increasing adoption of radar systems for air traffic control, ocean surveillance systems, space surveillance etc. has further fueled growth of the global radar systems market. Technological advancement in radar systems has led increased adoption in remote sensing systems for weather forecasting, planetary positions etc. and in missile guidance equipment’s.
Radar systems have become more accurate, powerful, and lightweight owing to which their application in defense sector has increased. Adverse climate condition affects range and accuracy of radar systems which is a major challenge for global radar systems market. Increasing trend for hi-tech defense and military systems, along with various government initiatives to strengthen national security are expected to drive growth of the global radar systems market.
The global radar systems market report has been segmented on the basis of waveform type, application, and region.
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North America dominates the global radar systems market and is expected to maintain its position during the forecast period. This growth can be attributed to presence of major vendors in this region. The market in Asia Pacific is expected to witness relatively fast growth and is projected to register a CAGR of X.X% during the forecast period owing to increasing investments and launch of new technologically advanced radar systems.
Key players in the radar systems market are BAE Systems, Boeing Company, Thales Group, General Dynamics Corporation, L-3 Communications Holdings, Northrop Grumman Corporation, Lockheed Martin Corporation, Rockwell Collins Inc., Raytheon, and Reutech Radar Systems.