R&D efforts in military simulation, and increased defence expenditures in emerging nations are the main drivers of the global radar market. The world's 2017 military budget was US$ 1739 million. Some companies such as Vayyar Imaging are developing new evaluation kits to increase the market's growth. These evaluation kit enable manufacturers to test 3D radars and find the most cost-effective applications.
Air
The rising demand for advanced radar systems is driving the market. Market growth is also driven by the increased procurement of military aircraft and the development new generation models. Airbus recently signed a contract by the Indian Ministry of Defense to purchase 56 C-295 airliners by 2021. Airbus will deliver 16 of its final assembly line in Spain to the first 16 aircraft, while the remaining 40 will be built in India.
Marine
The marine radar systems market is expected to grow at a CAGR of 2.4% over the forecast period. Radar has been used in many maritime applications including surveillance and weapons guidance. This technology can identify moving and stationary objects and helps to prevent accidents. Although the economic downturn has affected manufacturing and supply chain activities, the consumption for marine radar is expected back to normal once the economy stabilizes.
Unmanned
The Unmanned radars systems market report provides insights into the current competitive landscape, trade regulations, and recent developments. The report also highlights market opportunities through the development and sale of low-cost radars and miniaturized radar. The market for radar systems will face significant challenges over the forecast period due to strict trade regulations and the development of new jamming technology.
Land
The global land radar systems market is segmented by region into North America, Europe, and Asia-Pacific. North America is home to the largest number of radar systems. This market accounts for 38.8% overall of the land-based military radar market. Asia-Pacific accounted, however, for a larger percentage of the land radar market. This is due mainly to countries like China and India. The radar systems are especially important in Latin America, Africa, and Asia.
Space
The global Space for radar systems market is anticipated to grow at a CAGR of 10.1% between 2018 and 2022. The privatization sector of space exploration will be responsible for the expected growth. Private space flight companies are using space radar systems in increasing numbers, thanks to the government's growing support.
Regional demand for radar systems
France's radar sensor industry is forecast to grow at a high growth rate of more than 8 per cent over the next five decades. This can be attributed to several factors such as the increase in aerospace & Defense in France and increased research and developing activities in companies that make military vehicles and aircrafts.