The market for radars is expected to be worth more than US$38bn by 2025, helped in part by growing demand for weather radars for monitoring the climate.
This was the finding of a recent report published by the US-based market research firm Grand View Research Inc. The market valuation forecast represents a compound annual growth rate of nearly 4%, the report reveals.
The expected growth will be driven by increasing deployments of radars for security purposes and in the air travel and shipping industries. The report also highlighted the demand for weather radar systems for monitoring changes in climate patterns.