Global Radar Security Market Expected To Reach $ 22.46 Billion By 2020 With A CAGR Of 5.9%

Date: 2016-09-18

The Radar Security market was estimated at USD$ 16.86 billion in 2015, and is anticipated to reach USD$ 22.46 billion by 2020, expanding at a CAGR of 5.9% between 2016 and 2020. The radar security market size in terms of value for ground surveillance radar (GSR) systems, air surveillance radar (ASR) systems, and marine surveillance radar (MSR) systems. Further it includes the detailed information regarding the drivers of the radar security market such as increasing demand for radar systems worldwide since militaries seek to replace legacy systems, rising territorial conflicts and geopolitical instabilities in the Middle East and APAC, and defense budget cuts in developed economies shifted the focus toward miniaturization & automation of defense & surveillance systems.

Ground surveillance radar (GSR) systems held a major market share in 2015. The market for GSR systems is expected to grow between 2016 and 2022. The adoption rate of GSR systems is high for the military as well as homeland security applications. In addition, these systems are also used in detecting and tracking aircraft at low altitude. These are the key factors contributing for a large market share of GSR systems among other types of the Radar Security Systems Market.

The APAC region is expected to grow at the highest CAGR between 2016 and 2022. The main drivers for this growth is countries such as China, India, and Japan are aggressively taking initiatives such as heavy investments in R&D for the development and adoption of radar security systems in the region. Along with this, terrorism is the prime concern for the Asia-Pacific region, owing to which countries in the APAC region are looking to enhance their surveillance and security capabilities.

With the threats posing to every other nation from its neighbors and tensions blazing in the waters near their border, the market has identified a new opportunity to cater to the needs of coastal surveillance and marine security radars which are being procured in a colossal amount by the emerging economies globally.

A large number of civil applications of radars are also applied to the military purposes, especially the weather detection and navigation radars; moreover, radar is used for surveillance and security purpose and the control of weapons by the military. The purpose of surveillance radars is to detect and locate track targets when considering the military actions as well as in commercial aviation purpose.

According to survey, the region of Radar Security market share as following:
Read Full Report:

Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample