– Global radar market growing at a CAGR of 3.6 percent through 2023
BOSTON, Dec. 3, 2014 /PRNewswire/ — Early warning and surveillance along with fire control radars will account for around 76 percent of the global military radar market over the 2013 to 2023 forecast timeframe with the total market growing to over $18.5 billion. The Strategy Analytics Advanced Defense Systems (ADS) service series of forecasts cover the global military radar market in terms of expenditure as well as system shipments across the land, air, sea and space domains.
- North America will continue to represent the largest regional end market, but the fastest growth will be exhibited by demand from the Asia-Pacific region.
- Airborne radar will represent the largest market both in dollar terms as well as in terms of total shipments.
- L, S and C bands will represent the largest market followed by radars operating at X-band reflecting the primary frequencies used by surveillance/early warning and fire control radars.
The Global Radar Market and Technology Forecast: 2013 – 2023, Land Radar Market and Technology Forecast: 2013 – 2023, Airborne Radar Market and Technology Forecast: 2013 – 2023, Shipborne Radar Market and Technology Forecast: 2013 – 2023, and Space Radar Market and Technology Forecast: 2013 – 2023 series of forecasts cover the radar market in terms of expenditure (global, segmented by region), system shipments and segmentation of the market by radar type (application), frequency, power and also outline the associated market for components and semiconductor technologies.
"The total number of radar shipments is forecast to grow at a CAGR of 4.1 percent through 2023 to reach 1393 units," notes Eric Higham, North American Director for ADS. "Fire control radar shipments will continue to dominate the traditional mix but the fastest growth in shipments will come from emerging platforms such as unmanned systems, as well as new radar system types".
"The associated market for semiconductors and other components will grow from $1.2 billion to reach $2.1 billion with GaN (gallium nitride) becoming an established technology as it grows at a CAGR of 26.4 percent and finds use across all radar systems," added Asif Anwar, ADS Director at Strategy Analytics.
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