Military Radar Market to Register a CAGR of 4.21%; Increasing Focus of Manufacturers Towards Dual-Band Radar Systems Will Spur Sales Opportunities, says Fortune Business Insights

The global military radar market size is expected to reach USD 19.56 billion by 2026, exhibiting a CAGR of 4.21% during the forecast period. The increasing focus of manufacturers towards dual-band radar systems owing to its frequency diversity and resource sharing will be a key factor in boosting the military radar market trends. For instance, the system was first installed in the U.S. Navy, capable of operating simultaneously on two frequency bands, named S-band and X-band.

The benefits offered by the dual-band radar systems such as improved reliability, ease of maintenance, and unmanned operation will impel major companies to manufacture military radars. For instance, in January 2019, Raytheon Company received USD 98.8 million contracts from the U.S. Navy. The contract includes perpetual research and development support for the Army-Navy Transportable Radar Surveillance Control Model-2 and Sea-Based X-Band radar. This contract will aid in the healthy growth of the market in the foreseeable future.

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https://www.fortunebusinessinsights.com/industry-reports/military-radar-market-101777