Military Man-Portable Radar System Market by Component (Antenna, Transmitter, Receiver, Others), Range (<50Km, >50Km), Frequency Band (Ku, Ka, Others), Application (Search & Detection, Target Acquisition, Air Defence, Others), & Region–Forecast till 2023
Market Snapshot
The global market for military man-portable radar system is projecting high growth potential owing to the increased demand for advanced warfare technologies in the military and defense sector of various regions. Man-portable radar systems provide optimized surveillance in remote locations where vehicle support is not feasible. The global military man-portable radar system market is anticipated to surge at a significant CAGR of 9.9% during the forecast period of 2018-2023 and reach the valuation of USD 4,748 Mn by 2023 from USD 2,711.6 Mn in the year 2017. The primary factors that are propelling the expansion of the global military man-portable radar system market are rapid incorporation of technologically advanced solutions in the defense sector and rise in demand for improved surveillance systems to optimize the defense strategies of countries that are facing territorial conflicts and terrorist attacks. However, high capital investment required for installation of man-portable radar systems is acting as a restraint on the expansion of the global military man-portable radar system market during the forecast period.
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Report Overview
This report offers an in-depth analysis of the global military man-portable radar system market along with the five year revenue forecast for the year 2018 to 2023. The report also includes a detailed discussion on the governing factors and macroeconomic indicators that are impacting the market and its sub-markets. Revenue analysis on the basis of different components of military man-portable radar system is also available in the report. For opportunity analysis, various applications of military man-portable radar system are covered in the report. Other key pointers include range and frequency-band.
Companies Covered
The key players operating in the global military man-portable radar system market are Thales Group, Leonardo S.p.A, Saab AB, Telefunken Racoms, FLIR Systems Inc., Elbit Systems Ltd., ASELSAN A.S., BAE Systems PLC., Harris Corporation, Blighter Surveillance Systems Ltd., and SpotterRF.
This report offers detailed insights into the key market players and their current position in the global market. The report also provides information on companies with regards to growth strategies, revenue, geographical income, SWOT, segmental share, latest research and development initiatives, M&A activities and new product launch.
Research Methodology
A robust methodology is implemented for conducting market and industry analysis of gold standard. Both primary and secondary research inputs are utilized for reaching best possible research conclusions. The triangulation method used for data verification ensures high accuracy of market projections. In addition, top-down and bottom-up approaches are undertaken for conducting a multilevel verification of research findings.
Segmental Analysis
Segmental analysis of the global military man-portable radar system is based on components, range, frequency-band and application. On the basis of component, the market has been segmented into antenna, transmitter, receivers and others. Of these, the transmitter segment held the largest market share in 2017. The segment is expected to remain highly attractive over the next several years. A typical radar system requires a transmitter to emit electromagnetic waves in the radio or microwaves spectrum. Transmitters are a curial component of radar systems. By the year 2023, the transmitter segment is expected to reach a market valuation of USD 1,428 Mn.
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On the basis of range, the market has been segmented into <50 Km and >50 Km. The <50 Km segment currently dominates the global military man-portable radar system market. In 2017, the segment stood at a market valuation of USD 1,412.1 Mn. Whereas, the >50 Km segment is projected to witness a relatively higher CAGR during the assessment period, which will see it outvalue the <50 Km segment over 2023.
On the basis of frequency-band, the market has been segmented into ka-band, ku-band and others. The ka band segment currently accounts for the highest market share and is expected to surpass a valuation of USD 2,000 Mn by 2023-end. The segment will witness a double-digit CAGR during the review period. Proliferation of internet-based applications associated with wired and wireless cellular communications technologies is supporting the growth of the segment.
On the basis of application, the market has been segmented into search & detection, target acquisition, air defense, and others. The search and detection segment accounted for more 38% market share of the global market in 2017. However, the segment’s dominant stature is likely to be challenged by the air defense segment. The air defense segment is set to become highly lucrative in the forthcoming years. The segment is projected to witness a CAGR 12% during the forecast period.
Regional Outlook
On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA). In 2017, North America dominated the global military man-portable radar system market. Currently, the region accounts for more than 40% share of the global market. The region’s market is expected to surge at a strong CAGR during the assessment period. Europe emerged as the second largest market for military man-portable radar system is 2017, accounting for a valuation of market valuation of USD 808.6 Mn. Meanwhile, the market is APAC is projected to increase at the highest CAGR till 2023.
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