HOME › Press Releases › Radar Security Market worth 25.17 Billion USD by 2022
Radar Security Market worth 25.17 Billion USD by 2022
According to the new market "Radar Security Market by Surveillance Type (Ground, Air, Marine), Range (Long, Medium, Short), Application (Border Security, Seaport and Harbor, Critical Infrastructure), and Geography - Global Forecast to 2022", research report on the radar security market, the said market is expected to grow from USD 17.85 Billion in 2016 to USD 25.17 Billion in 2022, at a CAGR of 5.90% during the forecast period. The radar security market is driven by the rising demand for radar systems worldwide since militaries seek to replace legacy systems. Rising territorial conflicts and geopolitical instabilities in the Middle East and APAC is also a key factor responsible for the growth of the market. Furthermore, defense budget cuts in developed economies shifted the focus toward miniaturization & automation of defense and security systems is expected to propel the radar security market.
Browse 71 market data Tables and 53 Figures spread through 167 Pages and in-depth TOC on "Radar Security Market - Global Forecast to 2022"
Early buyers will receive 10% customization on reports.
Ground surveillance radar (GSR) systems are expected to lead the global radar security market between 2016 and 2022
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.
The border security application is expected to hold the largest market share in 2016
There will be a significant rise in the market for the border security application between 2016 and 2022; controlling terrorist activities across the borders, monitoring human trafficking and illegal entry of immigrants, securing imports and exports at the borders are the major drivers for the adoption of radar security systems in border security applications. High adoption of radar security systems for the application of highway safety systems and anti-collision systems for trains is expected to contribute to the growth of the market for these applications at the highest rate during the forecast period.
The APAC region is expected to grow at the highest rate between 2016 and 2022
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.
The present market is dominated by the players such as Thales SA (France), Lockheed Martin Corporation (U.S.), Saab AB (Sweden), Raytheon Company (U.S.), and Elbit Systems Ltd. (Israel) among many others.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India