SAN FRANCISCO, Sept. 21, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Military Radars – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: April 2021
Executive Pool: 12462
Companies: 79 – Players covered include Applied Radar, Inc.; BAE Systems plc; FLIR Systems, Inc.; Harris Corporation; Honeywell International, Inc.; Indra Sistemas, S.A.; Israel Aerospace Industries Ltd.; Leonardo DRS; Lockheed Martin Corporation; Northrop Grumman Corporation; Raytheon Company; Reutech Radar Systems; Rockwell Collins; Saab Group; Telephonics Corporation; Terma A/S; Thales Group and Others.
Coverage: All major geographies and key segments
Segments: Type (Airborne, Ground, Naval, Space)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Military Radars Market to Reach $8.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Military Radars estimated at US$7.6 Billion in the year 2020, is projected to reach a revised size of US$8.5 Billion by 2026, growing at a CAGR of 1.8% over the analysis period. Airborne, one of the segments analyzed in the report, is projected to record a 2.2% CAGR and reach US$4.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ground segment is readjusted to a revised 1.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.1 Billion in 2021, While China is Forecast to Reach $1.6 Billion by 2026
The Military Radars market in the U.S. is estimated at US$2.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2026 trailing a CAGR of 3.6% over the analysis period. Among the other noteworthy geographic markets are Japan
Naval Segment to Reach US$1.5 Billion by the year 2026
In the global Naval segment, USA, Canada, Japan, China and Europe will drive the 0.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.
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