Radar market to reach $38.01 billion globally by 2025, study says
SAN FRANCISCO. The global radar market is expected to be valued at $38.01 billion by 2025, according to a study conducted by Grand View Research, Inc., "Radar Market Size, Share & Trends Analysis Report By Component (Antenna, Transmitter, Receiver), By Service, By Platform, By Frequency Band, By Range, By End Use, By Region, And Segment Forecasts, 2019-2025."
Driving growth in the global radar market, according to the study authors, are such trends as increasing deployment of radar around the world, an uptick in security-related issues in many countries, and an increase by many countries in sea trade and travel activities.
Additional study findings include the projection that the X-band radar segment will witness significant growth over the forecast period due to increased spending on military radar, plus countries' new deployments of radar for guiding space vehicles, tracking satellites, observing planetary equipment, and monitoring meteors.
For additional information, visit the Grand View Research website.