Increasing defence spending coupled with technological innovations to drive India ocean surface radar systems market through 2024
According to TechSci Research report, “India Ocean Surface Radar Systems Market By Technology Type, By Application, By Range, Competition, Forecast & Opportunities, 2024”, India ocean surface radar systems market is expected to grow at a steady rate during the forecast period owing to the increased installations of these systems by coastal guards and naval forces. However, the uncertainties in the shipbuilding industry and state restrictions for private sector in defence technology can hamper the growth of the market during forecast period.
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India ocean surface radar systems market is segmented based on technology type, end use, company and region. Based on application, the market can be bifurcated into defence and commercial. The defence segment dominates the market since ocean radars are majorly used for security and surveillance purposes. The commercial segment is also expected to witness significant growth during forecast period owing to the growing use of ocean radar systems in weather forecasting.
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“India is expected to be the fastest growing market for ocean surface radar systems during the forecast period owing to the increasing defence spending by the government and use of ocean radars for effective monitoring of illegal access in the maritime boundaries of the country. Further, India has a longer coastline as compared to other countries and the government is continuously trying hard to protect its boundaries looking at the previous incidences of terrorist activities in the country. This factor would further steer growth in the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Ocean Surface Radar Systems Market By Technology Type, By Application, By Range, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India ocean surface radar systems market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India ocean surface radar systems market.
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