in ,

Research and Markets: Military Radar Market to Hit $8.4B by 2019

Research and Markets: Military Radar Market to Hit $8.4B by 2019 - top government contractors - best government contracting event

Navy radarResearch and Markets has released a new report that predicts the military radar global market could reach a total value of $8.4 billion by 2019 from the $6.9 billion recorded in 2012.

Increased demands from the army, navy and air force services, as well as emergency responders have spurred the military radar market's growth worldwide, Research and Markets said Monday.

Market players such as Lockheed Martin, Northrop Grumman, Raytheon, BAE Systems, Boeing, Harris, Saab Sensis and DRS Technologies hold 54 percent of the market, according to the report.

Research and Markets also said North American defenses forces are the largest spenders in the market, followed by Asia-Pacific defense clients.

“The market is also supported by the substantial purchases of military radar systems made by the emerging nations,“ Research and Markets said.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Industry News

mm

Written by Jay Clemens

Laurence Grayer, SVP, General Counsel and Corporate Secretary for DynCorp International on the Role of the GC in Today's GovCon Environment - top government contractors - best government contracting event
Laurence Grayer, SVP, General Counsel and Corporate Secretary for DynCorp International on the Role of the GC in Today's GovCon Environment
Deltek's John Slye: Agencies Lump IT Spending in Q4 Over Past 5 Years - top government contractors - best government contracting event
Deltek’s John Slye: Agencies Lump IT Spending in Q4 Over Past 5 Years