New York, NY, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Security and Surveillance Radar Market by Type of Platform (Maritime Security & Surveillance Radar, Land-Based Security & Surveillance Radar, and Airborne Security & Surveillance Radar): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017- 2024”. According to the report, the global security and surveillance radar market accounted for around USD 6.99 billion in 2017 and is expected to reach approximately USD 10.60 billion by 2024 globally, growing at a CAGR of around 6.12% between 2018 and 2024.
The highly capable radar has several advantages related to security along with surveillance applications that primarily include perimeter security, airport perimeter protection, base protection, border protection, and some other critical infrastructure sites such as ports and harbors. It allows early warning & provides time to build up a reply to threat dipping the need for obstacles and wire fences and other security controls. Naval radar surveillance is perfectly suited for high-definition sea surface surveillance and short-range air surveillance for ship navigation and helicopter control.
Browse through 16 Tables & 15 Figures spread over 165 Pages and in-depth TOC on “Global Security and Surveillance Radar Market Size & Share 2017: Industry Trends, Applications, Analysis and Forecast, 2024”.
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The growth of global security and surveillance radar market is mainly attributed to the increased number of navigation radars used by UAV (Unmanned Air Vehicles). Furthermore, amplified procurement for national security, increasing demand for lightweight radars, energy-efficiency over traditional radar is predicted to favor the security and surveillance radar market growth. Moreover, modernization and replenishment programs are expected to spur security and surveillance radar market in the years to come. On a contrary, continuous changes in military operations are expected to have an adverse impact on the security and surveillance radar market. Even so, technological advancements in radar system may disclose new avenues for the security and surveillance radar market in the near future.
Maritime security and surveillance radar type of platform segment are expected to attract a remarkable market share for security and surveillance radar market in the coming years. The rise in the number of navigation radars which are used by UAV is predicted to drive airborne security and surveillance radar segment massively. Air defense radars and surveillance radars are also used for ground security, marine, airspace applications to watch a range of targets including unmanned aerial systems, ultralights, aircraft, ships, boats, helicopters, vehicles, etc.
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North America was the leading regional market for security and surveillance radar in 2017. Modernization and replenishment programs in countries such as the U.S. and Canada is predicted to flourish the growth of security and surveillance radar market in this region. Furthermore, increasing use radar to inspect and locate hostile targets in military actions as well as in commercial aviation is expected to shape North America security and surveillance radar market to grow lucratively.
Europe is considered as another leading regional market for security and surveillance radar and is estimated to witness a significant growth in the analysis period. The growth is mainly due to the high demand for maritime security and surveillance radar platform type of radar. Ongoing technological advancement and replenishment programs of security and surveillance radar are some of the major contributing factors for the growth of security and surveillance radar market. Airborne security and surveillance radar platform type segment will witness a noticeable demand in this region.
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The Asia Pacific is considered as the fastest growing region for the security and surveillance radar market owing to the increasing spending on civil security air surveillance, upgrading in a military operation, increasing spending on multi-mission aircraft, UAVs, civil helicopters and the ones that are used for civil security air surveillance is expected to open several opportunities for the players operating in security and surveillance radar networks market in the Asia Pacific region. Moreover, amplified procurement for national security in China and India is expected to propel the growth of the security and surveillance radar market in this region.
Latin America is estimated to witness a significant growth in the forecast period. This is mainly due to the increasing spending on national security. Brazil is expected to hold the largest market share in the analysis period due to increasing spending on military operations paired with growing demand for lightweight radar in countries such as Argentina and Peru.
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The Middle East and Africa are anticipated to be the key contributing regional market for security and surveillance radar in the coming years. Saudi Arabia is estimated to be the most lucrative market for security and surveillance radar in the Middle East. Africa region is also expected to attract several key players of the security and surveillance radar market in years to come.
Key players in this market are Northrop Grumman, SAAB, Rockwell Collins, Thales Group, Boeing, Israel Aerospace Industries, Raytheon Co., Airbus Group, BAE Systems, Cobham Plc, Kelvin Hughes, ATC Global, Exelis, Scanter, Honeywell International, Lockheed Martin, and Finmeccanica, amongst others.
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The report segments of the global security and surveillance radar market as follows:
Global Security and Surveillance Radar Market: Type of Platform Segment Analysis
- Maritime Security and Surveillance Radar
- Land-Based Security and Surveillance Radar
- Airborne Security and Surveillance Radar
Global Security and Surveillance Radar Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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