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Radar Systems Market Is Driven By Improved Capabilities of Radar Systems Resulting in Greater Efficiency

The global radar systems market is expected to grow from USD 20.29 Billion in 2016 to USD 26.37 Billion by 2021, at a CAGR of 5.39% from 2016 to 2021. The objective of this study is to analyse, define, describe, and forecast the radar systems market on the basis of technology, application, component, range, frequencies band, and geography.

Radar (radio detection and ranging) can be defined as a system using electromagnetic (EM) waves to detect and locate an object’s location in terms of range and angle. Factors, such as increased usage of radar systems in unmanned vehicles and homeland security, are expected to drive the growth of the radar systems market.

This research study involved the extensive usage of secondary sources, directories, and databases such as Hoovers, Bloomberg Business week, and Factiva to identify and collect relevant information on the radar systems market.

The pulsed radar segment led the radar systems market in 2016. This growth can be attributed to the fact that pulsed radar systems aid in efficient and accurate object detection and estimation of its range.

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Based on application, the radar systems market has been segmented into defense and commercial. The commercial segment is expected to lead the radar systems market. This can be mainly attributed to the increasing demand for radars across various industries, such as automotive and oil & gas.

Regional Outlook

North America is projected to be the largest market for radar systems market.

The North American region is projected to lead the radar systems market, owing to various technological developments in radar systems and the presence of key players in the region. The Asia-Pacific radar systems market is expected to grow at the highest CAGR, due to disputes and unrest in some countries in the region, which has led to the increased procurement of surveillance systems. Countries such as China, India, and Japan have invested significantly in coastal surveillance and weather detection capabilities.

Key Companies Outlook

Lockheed Martin Corporation is one of the key players in the radar systems market

Key players operational in the radar systems market include Lockheed Martin Corporation (U.S.), Rockwell Collins (U.S.), Saab Group (Sweden), and BAE Systems (U.K.), Rheinmetall AG (Germany), and General Dynamics (U.S.), among others. Contracts and agreements are the key strategies adopted by major players in the radar systems market. Market players are focusing on entering new markets by launching technologically-advanced and cost-effective products. Their core competencies include better product portfolio and investment in R&D activities.

Lockheed Martin Corporation (U.S.) is one of the leading player in radar systems. The company focuses on strengthening its product offerings through investments in R&D. The company has a strong product portfolio, which caters to the defense industry.

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