Military radar market to reach $13 billion

The global military radar market is forecast to reach $13 billion by 2020, according to a forecast by research firm MarketsandMarkets. This reflects a compound annual growth rate of 3.42 percent from a 2015 market of $11 billion.

The highest growth in the radar market will be in the Asia-Pacific region.

"High growth in military expenditure and modernization of surveillance and battle systems is driving the radar market in India," the forecast said. "For instance, the Indian Navy finalized the naval satellite for testing, prior to being shipped abroad and orbited on a non-Indian launch system, which is equipped with advanced radar systems.

"The Brazilian Army is also spending huge amounts over sensors and remote sensing and command and control systems for defense, which is driving the radars market in the country."

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