Radars and weapons industry includes establishments that manufacture radars and weapons for civilian and military purpose. Radars operates in the ultra-high-frequency (UHF) or microwave part of the radio-frequency (RF) spectrum, and these radio waves used to determine the range, angle, or velocity of objects such as aircraft, spacecraft, guided missiles, ships, motor vehicles, weather formations, and terrain. The types of weapons manufactured by companies in this market are small arms and ammunitions, bombs, rockets and rocket launcher, torpedoes and other military knives.
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The market was valued at $593 billion in 2017, owing to the increasing demand for air traffic control system supported by largest number of new airport projects, particularly in developing countries. Additionally, defense industry is also expected to contribute to the growing radar and weapon manufacturing market by increasing the production of unmanned aerial vehicles, smart guns and nuclear ballistic missiles, in the forecast period.
The radars and weapons market in The Business Research Company’s report is split into two segments: radars and weapons.
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North America was the largest region in the radars and weapons manufacturing market in 2017, accounting for more than 45% share in the market. The USA was the largest country in 2017, accounting for over 45% share in the market.
The top five competitors in the market are Lockheed Martin Corporation, BAE Systems PLC, Raytheon Company, Northrop Grumman Corporation and Boeing. Lockheed Martin Corporation was the largest competitor. It is an aerospace and defense company and is engaged in development and manufacturing of aircrafts, missiles, sensors, and other warfare technologies. The company also provides satellites and spacecraft related products and services.
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