A Grand View ResearchÂ reportÂ predictsÂ the global military radar market will reach $13.78 billion in value by 2024Â due to an increasing demand for borderÂ safety.
The useÂ of radar technologyÂ in weapon guidance, air traffic control and collision avoidanceÂ systemsÂ is also projected to drive market growth, Grand View Research said Thursday.
The projected growth will also be driven by aÂ demand for high-resolution imaging radars that work to detectÂ fixed and moving targets, according to the research company.
Grand View Research noted the ground-based radar segment accounted for about 29.5 percent of the overall market share duringÂ 2015.
Key market players mentioned in the report includeÂ BAE Systems, General Dynamics, Northrop Grumman, Lockheed Martin, Raytheon, Airbus Group, Finmeccanica, Israel Aerospace Industries, Thales and Saab Group.