Forecast International Projects Sea-based Radar Market Will Reach $13 Billion Over Next 10 Years

NEWTOWN, CONN., June 29, 2015 (GLOBE NEWSWIRE) -- Forecast International has released its latest analysis of the sea-based radar market. "The Market for Naval Radar Systems" encapsulates a detailed review of 31 distinct radar programs. Viewed as a group, these examples provide an in-depth look at the major trends in sea-based radars.

Covered in the analysis are six market segments. These include Air Defense, Electronic Countermeasures, Fire Control, Navigation, Search & Track, and Surveillance radar programs. The most valuable segment will be Air Defense, at $8.249 billion.

Forecast International projects the value of the entire sea-based radar market to reach $13.037 billion over the next decade. Over this time, production of 1,383 units is forecast, with production making up 67.1 percent of the overall market value.

The 10-year analysis also covers representative O &M and RDT &E programs, such as those funding the sustainment and development of the SPY-1 and Air and Missile Defense Radar (AMDR). During the 2015-2024 forecast period, O &M and RDT &E are expected to make up 17.1 percent and 15.8 percent of the market, respectively.

Also provided is a look at some of the top players in sea-based radars. By value, Forecast International projects the top three leading companies to be, in order, Raytheon, Thales, and Airbus Group. These companies produce radar systems such as the AMDR and SPS-73 (Raytheon), SMART-S Mk 2 and Scout Mk 3 (Thales), and TRS-3D and TRS-4D (Airbus Group).

In all, an evaluation of 13 parent companies is provided, with a multiple number more of their subsidiaries included. These 13 companies represent a diverse array of countries – nine in total – with the end user forecast numbering over 25 separate nations.

"As much as possible, we have tried to provide our customers with a detailed picture of the naval radar market," said C. Zachary Hofer, lead radar analyst at Forecast International. "The diversity of the programs we've examined, the corresponding international scope of end users, and the Who's Who of parent companies provide what we feel is an unsurpassable portrait of the field. We include a look at some of the major influential trends in naval radars, such as the rising importance of integrated masts and the overwhelming move to solid-state, active electronics. We are excited to be able to provide this wealth of information to our clients."

For more information on "The Market for Naval Radar Systems" 10-year analysis or to inquire about other Forecast International products – such as Platinum Forecast System 2.0 (our revolutionary 25-year, real-time market data tool) or our individual program report books, like the Electro Optical Forecast, the Land & Sea Based Electronics Forecast, or the Radar Systems Forecast – please contact a member of our sales team.

About Forecast International

Forecast International, Inc. is a leading provider of Market Intelligence and Analysis in the areas of aerospace, defense, power systems and military electronics. Based in Newtown, Conn., USA, Forecast International specializes in long-range industry forecasts and market assessments used by strategic planners, marketing professionals, military organizations, and governments worldwide. Forecast International's resources and extensive base of experience can be readily adapted and efficiently focused to fulfill a broad spectrum of civil and military consulting and special research requirements.

CONTACT: Ray Peterson Vice President, Research & Editorial Services Forecast International 22 Commerce Rd. Newtown, CT 06470 USA (203) 426-0800

Source:Forecast International, Inc.