The X-band radar market is estimated to be valued at $4.12 billion by the end of 2015 and is projected to grow at a CAGR of 3.56% up to $5.08 billion by 2020. The market is estimated to be driven by the increased number of transnational crimes, wars & insurgent attacks, growing border tensions, and technological advancements which have resulted in the reduction of cost and easy transportability and relocation facility.
North America is the leader in the worldwide market for portable X-band radars. The region is expected to witness a CAGR of 5.47% from 2014 to 2020. The region witnesses a strong demand of portable X-band radars in homeland and border security.
The European X-band radar market is expected to reach $1,602.09 Million by the end of 2015 and is projected to grow at a CAGR of 2.13% through the review period. The instability in Western Europe results in the need for procurement of military equipment like submarines, command and control systems, tactical helicopters, mobile artillery-hunting radar systems, and next generation Gripen aircrafts loaded with surveillance radars, to meet the need for stability in Europe despite the political challenges driving the radar market expenditure.
Asia-Pacific is expected to emerge as a potential revenue pocket in the next five years due to the rising demand of portable X-band radars for weather detection, border security, critical infrastructure monitoring, facility surveillance, and several other applications. Hence, the APAC market is projected to reach $654.36 Million by the end of 2015 and is projected to grow at a CAGR of 3.12% throughout the review period.
Asia-Pacific is expected to emerge as a potential revenue pocket in the next five years due to the rising demand of portable X-band radars market for weather detection, border security, critical infrastructure monitoring, facility surveillance, and several other applications.
The increase in regulations by the government makes it difficult for the commercial manufacturers to get permission for bandwidth allocation from the government which is considered to be one of the major restraining factors for the market. Additionally, in other regions, the portable X band radars possess high resolution and are cost-effective as compared to other band radars. These factors have led to an increase in the demand for portable X-band radars during the review period.
The major players in the X-band radar market are SAAB AB (Sweden), Selex ES S.p.A (Italy), Thales-Raytheon Systems ( U.S.), Kelvin Hughes Limited (UK), and Israel Aerospace Industries Ltd ( Israel).
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