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(Transportation-News.com, December 13, 2018 )
The global radars and weapons market, one of the segments in the aerospace and defense industry, declined at a compound annual growth rate (CAGR) of around 1.1% during the historic period. This mainly due to decrease in demand of weapons led by fall in oil prices, forcing oil-exporting companies to cut their military spending and affecting the global weapon sales.
In the forecast period, the radars and weapons market size is expected to be over $658.4 billion by 2021, growing at a CAGR of nearly 2.6%. The growth rate is higher in the forecast period when compared to the historic period. This is mainly attributed to several factors which include increase in demand for unmanned aerial vehicles, smart guns and nuclear ballistic missiles, in the forecast period. Use of radars in automobiles will also drive the growth of this market in the forecast period.
Find TBRC’s report on radars and weapons market:
https://www.thebusinessresearchcompany.com/report/radars-and-weapons-global-market-report-2018
Many nations are making a big push to introduce robots in defense sector. The rapid development of robotics technology in the past few years have led to improvements for the military application in weapons systems. This resulted in sci-fi war machines entering the battlefield without or minimal human control.
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https://www.thebusinessresearchcompany.com/sample.aspx?id=358&type=smp
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