Dallas, TX -- (SBWIRE) -- 05/12/2014 -- According to the new market research report "Air and Missile Defense Radar Market (by Land-Based Systems, Naval Systems and Airborne Systems) - Global Forecasts and Analysis to 2014 - 2020", published by MarketsandMarkets, Air and Missile Defense Radar Market is estimated to be $7.0 Billion in 2014 and is expected to register a CAGR of 6.82% to Reach $10.40 Billion By 2020.
Browse more than 59 market data tables with 12 figures spread through 164 pages and in-depth TOC on "Air and Missile Defense Radar Market "
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The global air and missile defense radar market is estimated to be $7 billion in 2014 and expected to grow at a CAGR of 6.82% to reach 10.40 billion in 2020. The growth regions will beinAsia-Pacific and the Middle East. However countries like South Korea, Japan, UAE, Saudi Arabia and Israel will likewise show a higher growth level in the market throughout the forecasted period.
Defense budget cuts in the U.S. and Europe will have an impact on the air and missile defense radar market.The air and missile defense radar systems will be on high priority in the near future because of increased diplomatic tensions in the regions like the Middle East and Asia-Pacific. The radar systems have evolved rapidly while the technology trend will achieve new developments in future, which will create new and better opportunities in the market.
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There is a slight decrease in the defense radar market for western’s air and missile. This decline is not because of lower spending on defense budgets in the western market, but its increased spending in the regions like Asia-Pacific and the Middle East.
Land-based radar systems have the highest CAGR across all platforms and it will account for 45% of the market share in the forecasted period.
Air and missile defense radars are used as an early-warning devices, that can detect approaching enemy’s’ aircrafts or missiles fromgreat distances. In case of an attack, the early detection of the enemy is critical for a successful defense. Anti aircraft defenses in the form of Anti-Aircraft Artillery (AAA), missiles, or fighter planes must readily be available at any point in time to repel an attack.
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Air-Defense Radars can detect air targets and determine their position, course, and speed in a relatively large area. The maximum range of Air-Defense Radar can exceed 300 miles, and the bearing coverage is a complete 360-degree circle. Traditionally, the air and missile defense radar were defined to provide surveillance support to the command center. But the role of the radar will change the nature of how the systems are used. The air and missile defense radar has gone through several development phases in the past and it is expected to change dramatically in the future. The research and development of air and missile defense radar will take 3-5 years to complete the process of research.
With the respect to the air and missile defense radar platforms, airborne is sharing 25% of the market, Naval is 35% and Land-based is around 45%.
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