Global $29.97 Billion Radar Security Industry Analysis, 2026 – Featuring Profiles of FLIR Systems, Israel Aerospace Industries, Kelvin Hughes, and Other Key Players
DUBLIN, December 20, 2021–(BUSINESS WIRE)–The “Global Radar Security Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global radar security market is projected to grow at a CAGR of 8.67% to reach US$29.973 billion by 2026, from US$16.748 billion in 2019.
The growing use of radar security due to the rising security concerns is one of the major factors driving the growth of the radar security market. Also, the rising territorial conflicts and political instabilities in Asia-Pacific and Middle East regions have been a prime factor for the growth of this industry. The increasing demand for radar systems in military applications and the adoption of these security systems by many countries for securing their border are making headway for the growth of this industry.
The adoption of radar security systems for the application of highway safety systems and anti-collision systems for trains is anticipated to contribute to the growth of this industry during the forecast period. The border security application is anticipated to be one of the prime factors for the growth of radar systems in the market. The growing territorial activities across the border, monitoring illegal activities like human trafficking, illegal entry of immigrants, securing imports and exports at the borders are the major drivers of the radar security market. Also, the minimization of defense budgets in some developed economies has shifted the focus towards miniaturization & automation of defense & surveillance systems.
Companies Profiled in the Report
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FLIR Systems
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Israel Aerospace Industries Ltd.
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Kelvin Hughes Limited
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Lockheed Martin Corporation
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Raytheon Company
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SRC Inc.
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Saab AB
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Thales
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Northrop Grumman Corporation
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Reutech Radar System
Increase in the investment and development of ballistic missiles and another defense system
One of the major reasons for the growth of this industry is the increasing investment and development of the defense sector including the ballistic missile and other air missiles which has accounted for countries to invest in radar securities that can sense and alert the intrusion of any foreign missile in its radar.
High development and…
