Target Recognition Demand and Lightweight Radars Is Fueling the Growth of the Global Military Radar Market.

According to Transparency Market Research’s new research report, the global military radar market is exhibiting a 2.90% CAGR between 2013 and 2019. The market’s 2012 value of US$6.9 bn will rise to a value of US$8.4 bn by 2019, should this CAGR hold true. The report, titled “Military Radar Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, converges all factors that influence the global military radar market in order to devise an accurate market forecast.

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According to the report, the primary driver for the global military radar market is the growing concern over national security. This concern, coupled with the desire of several emerging countries to become a global superpower has bolstered the growth rate of the global military radar market.Radar technologies are being adopted across all areas of defense forces and in all aspects of land, air, and naval warfare.

Other areas that utilize military radar technologies include government bodies that use them to ascertain the potential occurrence of natural calamities such as earthquakes. In the event of a natural calamity, military radar can help pinpoint the magnitude, location, and time of the event, thereby allowing nations to save as many lives as possible.Military radar has also been used in locating missing objects, such as in the search for the missing Malaysian Airlines Flight 370.

The global military radar market in 2012 was led by the segment of ground-based military radars. The segment captured 33.5% of the global military radar market in 2012, which was due to the major conflicts that occurred on land. For the airborne military radar segment, a 3.1% CAGR is expected in the forecast period. This high growth rate can be attributed to the pioneering activities carried out in terms of R&D and innovation in terms of design of military aircraft...