Radar systems market growing, North America leads

August 18, 2016 //By Jean-Pierre Joosting
The latest report from Markets and Markets expects the Radar Systems Market to grow from USD 20.29 Billion in 2016 to USD 26.37 Billion by 2021, at a CAGR of 5.39% from 2016 to 2021.

Factors, such as increased usage of radar systems in unmanned vehicles and homeland security, are expected to drive the growth of the radar systems market.

In 2016, the pulsed radar segment led the radar systems market. This growth can be attributed to the fact that pulsed radar systems aid in efficient and accurate object detection and estimation of its range.

Based on application, the radar systems market has been segmented into defense and commercial. The report shows that the commercial segment is expected to lead the radar systems market, which can be mainly attributed to the increasing demand for radars across various industries, such as automotive and oil and gas.

The North American region is projected to lead the Radar Systems Market, owing to various technological developments in radar systems and the presence of key players in the region. The Asia-Pacific radar systems market is expected to grow at the highest CAGR, due to disputes and unrest in some countries in the region, which has led to the increased procurement of surveillance systems. Countries such as China, India, and Japan have invested significantly in coastal surveillance and weather detection capabilities.

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