Radars And Weapons Global Market Insights As Per TBRC’s Latest Report
Added: (Wed Dec 26 2018)
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The Business Research Company’s global radars and weapons market analysis covers the year-on-year growth of the global radars and weapons market historic and forecast growth. It also includes chapters on the radars and weapons market trends, geographical analysis, and competitive landscape.
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The global radars and weapons market is forecast to grow at a CAGR (compound annual growth rate) of around 2.5% by 2020.
Radars And Weapons Market Segmentation
According to TBRC’s global radars and weapons market research, the market is split by segments into Weapons and Radars.
The Weapon industry comprises establishments engaged in the
manufacturing of weapons such as small arms and ammunition and/or ordnance accessories, bombs, depth charges, rockets (except guided missiles), rocket launcher, grenades, mines, torpedoes and other military knives and other non-gun powder weapons. It is the largest segment with a market share of over 95%.
A Radar is a system for detecting/tracking the presence, direction, distance, and speed of objects such as aircraft, ships, and other objects.
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Radars manufacturing had the highest CAGR (compound annual growth rate) of about 5% during 2013-2017; this segment is expected to grow at a CAGR of 5.5% during 2017-2021. This was mainly due to increased government spending on as military aircrafts, aircraft carriers, unmanned aerial vehicles, and missile defense system. Higher defense spending from major regional powers such as China, Saudi Arabia and India to control intrusion activities, will likely drive the military radar manufacturing industry growth in the forecast period.
The global radars and weapons market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country
The global weapons and radars market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the report are Lockheed Martin Corporation, BAE Systems PLC, Raytheon Company, Northrop Grumman Corporation, and Boeing.
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