The
global military radar market is fragmented in nature. The top five
market players in the military radar market collectively hold a
market share of 54%. However, not a single player in the market holds
a definitively dominant market share, as the industry is driven by
government tenders.
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Cost-Effectiveness
the New Strategic Asset for Players in the Global Military Radar
Market
Some
top players in the global military radar market are Lockheed Martin
Corporation, Raytheon, Northrop Grumman Corporation, Terma A/S,
ASELSAN Inc., BAE Systems, Saab Sensis Corporation, Boeing, Harris
Corporation, and DRS Technologies. Players operating in the global
military radar market will benefit from the increasing demand for
radar due to border protection issues and strategic alliances.
Firms
in the global military radar market were previously competing on the
basis of innovation. However, recently the news of a failed missile
defense project in the U.S., which was in the pipeline for decades,
has led to companies adopting a new competition strategy. The
Pentagon invested US$10 billion in a missile defense project. This
project was meant to develop the most powerful radar of its kind in
the world. The failure of this costly project has changed the
competitive landscape of this market.
Market
players are now focusing on not just providing military radars with
the best innovative technology, but also at the lowest prices. One
company in the market is touting an innovative technology, which can
help armed forces save millions. This new military radar technology
uses ‘metamaterials’, which is supposedly more cost-effective and
compact.
Global
Military Radar Market to demonstrate a Sturdy Growth till 2019
According
to a leading market research firm based in the U.S., the global
military radar market will display a CAGR of 2.9% during the forecast
period of 2013 to 2019. In 2019, the market is expected to reach a
total market value of US$8,440 million.
Rising
demand for radar-based systems in military branches such as the navy,
air force, and army, and in space-based programs carried out by
defense forces has resulted in an elevated demand for military radar.
In addition to this, growing economic and security concerns, rising
government investment in defense, accelerating demand for target
recognition demand and lightweight radars is fueling the growth of
the global military radar market.
However,
the global military radar market will be suppressed by wind turbines,
as they have become a major issue for this industry. Wind turbines
can sometimes interfere with military and civilian radar and cause
‘clutter’. This can lead to conflicts related to airspace use for
military purposes. To overcome these conflicts, proper planning,
mitigation, and transparency is required.
The
global military radar market on is segmented on the basis of radar
type into naval, ground-based, space-based, and airborne radars. In
2012, the market segment of ground-based military radars held a
dominant market share of 33.5%. The ground-based military radar
segment is driven by the increasing number of conflicts fought on
land. The airborne military radar sector is anticipated to grow at
the highest CAGR of 3.1% during the forecast period. This growth is
attributed to the accelerating advancements in warfare technology
coupled with growing demand for fighter jets and aircrafts.
Geographically,
the global military radar market is divided into North America,
Europe, Asia Pacific, and Rest of the World (RoW). China and the U.S.
collectively held over 40% of the global military radar market and
are expected to maintain this lead. The China military radar market
is forecast to grow at a 3.4% CAGR during the period of 2013-2019.
China, in its attempt to emerge as a global superpower, has
substantially invested in its defense projects, which has resulted in
a high demand for military radars.
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