Radar is a system for detecting/tracking the presence, direction, distance, and speed of objects such as aircraft, ships, and other objects. Radars usually operates in the ultra-high-frequency (UHF) or microwave part of the radio-frequency (RF) spectrum, and these radio waves used to determine the range, angle, or velocity of objects such as aircraft, spacecraft, guided missiles, ships, motor vehicles, weather formations, and terrain.
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The global radar manufacturing market has shown moderate growth in the past years with a CAGR of about 5%. The year 2017 recorded highest ever market value in this industry as per TBRC’s inhouse consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims in this market.
The report also shows the radar manufacturing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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The radar manufacturing market is expected to grow at a CAGR of around 5.5% by 2021. This can be attributed to the increase in demand for air traffic control system supported by largest number of new airport projects, particularly in developing countries. Additionally, defense industry is also expected to contribute to the growing radar manufacturing market by increasing the production of unmanned aerial vehicles, in the forecast period.
TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.
Companies included in the report are Northrop Grumman Corporation, Raytheon Company, Lockheed Martin Corporation, Thales Group, and Leonardo S.p.A.
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