The global military radar market is expected to grow at a CAGR of 2.46% over the forecast period. The market consists of five categories: airborne, ground-based, naval, sonar and space-based. North America will dominate the sector with a share of 38.3%, followed by Asia-Pacific and Europe, with shares of 28.3% and 19.6%, respectively. The ground-based segment is expected to be leading in North America, Asia-Pacific and Middle-East, whereas the airborne is expected to be the leading segment in Europe, Latin America and Africa.
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The demand for radars is expected to be driven by the growing importance of unmanned platforms and the modernization of existing military radar systems. Moreover, the advent of technologically enhanced radar systems such as Active Electronically Scanned Array (AESA), coupled with changing warfare tactics, are also providing a significant push to the growth of the global military radar market. Along with the major defense spenders in every region, smaller countries are also undertaking modernization initiatives for the development of improved radar systems. The global military radar market includes five segments on the basis of platforms, including airborne, ground-based, naval, sonar and space-based.
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Reason to Buy:
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- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military radar market
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