Sea-based radar market will reach $13 billion over next 10 years, says Forecast International
NEWTOWN, Conn., 17 July 2015. The global market for sea-based radar for air defense, electronic countermeasures, fire control, navigation, search and track, and surveillance will reach $13 billion and 1,383 units over the next decade, predict analyst at market researcher Forecast International in Newtown, Conn.
Of these six segments, the most valuable over the next 10 years will be air defense, valued at $8.2 billion, analysts say. These findings are in the Forecast International report entitled "The Market for Naval Radar Systems."
The report encapsulates a review of 31 different radar programs and provides an in-depth look at the major trends in sea-based radars, Forecast International officials say.
The 10-year analysis also covers sea-based radar operations and maintenance programs, as well as research and development for projects like the SPY-1 and Air and Missile Defense Radar (AMDR). From 2015 to 2024 sea-based radar operations and research should make up 17.1 percent and 15.8 percent of the market, respectively, analysts say.
Forecast International projects the top three sea-based radar companies over the next decade will be Raytheon, Thales, and Airbus Group, which make radar systems like the AMDR and SPS-73 (Raytheon); SMART-S Mk 2 and Scout Mk 3 (Thales); and TRS-3D and TRS-4D (Airbus Group).
For more information contact Forecast International online at www.forecastinternational.com.