Military radar systems market in flux due to defense budget cuts, report says
NewsSeptember 10, 2020
LONDON. The world market for military radar systems is currently in a state of transition due mainly to extensive cuts in defense budgets in many markets that previously had a major impact on procurement, according to a new report from Visiongain, "Military Radar System Market Report 2020-2030."
According to the report's authors, military budget-cutting will be counteracted by spending in emerging markets and on new technology, but these forces will have a limited effect on the military radar systems market in general. In the course of the next ten years, according to the study findings, there will be a pressing need for new equipment acquisition and modernized radar technology, including increased access to ballistic-missile technology,as militaries respond to increasing tensions in East Asia and the Middle East. These demands, however, will continue to be counterbalanced by economic reality.
Over the study period, growth in the military radar market will come though countries' purchases of such advanced defense technology as electronic scanning radars, synthetic aperture radar, two-band radars, solid-state radars, and plasma antennas.
For additional information on this study, visit the Visiongain website.
