Defence Industry to Dominate India Ocean Surface Radar Systems Market During Forecast Period
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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