APAC to Lead the Growth of Global Radar Security Market during 2016 to 2022
FREMONT, CA: Technological advancements have made inroads into various segments including defense and have bought revolutionary changes in handling arms and ammunitions. Radar systems have played a pivotal role in defense and warfare. A recent study by MarketsandMarkets sheds light on the growing demands of radar usage and expects APAC region to grow faster during the forecast period of 2016 to 2022.
The research report, "Radar Security Market by Surveillance Type (Ground, Air, Marine), Range (Long, Medium, Short), Application (Border Security, Seaport andHarbor, Critical Infrastructure), and Geography - Global Forecast to 2022", foresees the market to grow at a CAGR of 5.9% during the forecast period and touch USD 25.17Bn.
Radar Security Market
Raising geopolitical concerns have paved way for militaries to upgrade their legacy systems, thus propelling the demand for radar security. Ground surveillance radar (GSR), being the major contributor for the market growth, is expected to grow further during the forecast period.
Border security application market is anticipated to grown in the wake of increased monitoring across borders, human trafficking and illegal entry of immigrants. Radars are being used in application of highway systems and anti-collision of trains, thus, increasing demands.
The key drivers of radar security market are attributed to countries such as China, India and Japan as they are investing heavily in R&D for the development and adoption of radar security systems in the region.