Global Military Radar Systems Market Hit $9.16 Billion in 2011 Says New Report

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Jan. 3, 2012 - PRLog -- According to the report “The Military Radar Systems Market 2011-2021” available at the global military radar market hit $9.16bn in 2011. The report divides the military radar systems market into four sub-sectors: naval, airborne, ground-based and space-based systems.

The 200 page report states that the global military radar systems market is to be resilient in the face of sharp budget cuts over the next decade. The market is also currently in the throes of technological advances that will ensure strong growth in the coming years. In spite of declining defence spending in the US, Europe and other developed economies, radar systems have been identified by governments as an investment priority, as developments in active electronically scanned array (AESA) and multi-mission capabilities require procurement agencies to maintain the relevance of ground-based, airborne and naval military assets. The self-evident utility of radars in their intelligence gathering and protective capabilities mean that governments are unlikely to jettison plans to acquire or at least upgrade these critical systems. Moreover, the drive towards standardisation and modularisation of systems is likely to offer considerable opportunities for companies that can supply such solutions.

Read more about the report “The Military Radar Systems Market 2011-2021” is available from Report Buyer at: Product Code: VIS00227
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