New Research and Markets reports predict Asia-Pacific and North America to dominate the global markets for military radar, satellites and command, control, computers, communications, intelligence, surveillance and reconnaissance platforms over the next decade.
Research and Markets said Monday spending on military radar tools in North America and Asia Pacific will account for at least 72 percent of total radar expenditures between 2014 and 2024.
The demand among military agencies for threat detection tools and technological advances in radar and radio frequency platforms will drive the global military radar market, according to one of the three reports.
The worldwide market for C4ISR systems will be driven by the demand for integrated and interoperability platforms and increase in asymmetric warfare, with land-based C4ISR and command and control systems to capture nearly 67 percent share of the market during the forecast period.
Research and Markets also projects the military satellite market to reach $9.7 billion by 2025 from $5.7 billion in 2015, with the U.S. to spend more than $38 billion on such systems over the next 10 years.
Companies cited in the reports include:
- BAE Systems
- CACI International
- Elbit Systems
- ELTA Systems
- General Dynamics
- Harris Corp.
- Kratos Defense and Security Solutions
- L-3 Communications
- Lockheed Martin
- ManTech International
- Northrop Grumman
- Rheinmetall Defense
- Rockwell Collins
- Thales Raytheon Systems