Military Radars Market by Component (Transmitter, Digital Signal Processor), Platform (Land, Naval, Airborne, Space), Technology (SDR, Quantum, Conventional), Waveform (FMCW, Doppler), Application, Type, Frequency Band & Region - Global Forecast to 2027
The global military radars market size is projected to grow from USD 13.5 billion in 2022 to USD 17.1 billion by 2027, at a CAGR of 4.7% from 2022 to 2027. Radar systems are very helpful in the military for a variety of tasks, including missile early warning detection, air traffic control, ground and aerial surveillance, and maritime navigation. Along with cameras that employ ultrasonic frequency and other object detecting systems that use image processing, it is also used as a terrorist scanner radar to increase security at the country's borders. The military radar market will be driven by increased purchases of air defense systems and radar as a result of regional instability and international conflicts. In a similar vein, the expansion of the military radar market during the projected period would be influenced by the development of drones and UAVs.
The military radars market includes major players Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Israel Aerospace Industries (Israel), Thales Group (France), and Leonardo S.P.A. (Italy). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America.
“Air & missile defense:: The fastest-growing segment of the military radars market, by application “
According to the application, the military radars market is believed to be dominated by the air and missile defense industry. The market for air & missile defense radars will be driven by ongoing modernization initiatives in airspace monitoring in the Asia Pacific region, activities like sea-based military operations, drug trafficking, illegal migrations, demand for early warning threat detection systems, ongoing demand for mine detection systems, and equipment by the US military to address conflicts in the Middle East and Asia Pacific.
Asia Pacific: The fastest-growing region in the military radars market.”
The military radars market is anticipated to grow at the highest CAGR during the forecast period in Asia Pacific. This region's expansion can be linked to the rising expenditures on air defense systems to bolster their combat zone defenses and counter threats. China and India are improving their command-and-control networks to increase their capacity for resource allocation and surveillance. In the Asia Pacific area, China is anticipated to dominate the market for military radars. Australia, Vietnam, Thailand, and other nations that had previously invested on land forces are now thinking about increasing their spending on air-sea defense.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%
By Designation: C Level–35%; Directors–25%; and Others–40%
By Region: North America–45%; Europe–20%; Asia Pacific–30%; Rest of the World-5%
Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Israel Aerospace Industries (Israel), Thales Group (France), and Leonardo S.P.A. (Italy) are some of the leading players operating in the military radars market.
The study covers the military radars market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on component, platform, application, technology, range, frequency band, waveform, services, end user, product type, dimension, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall military radars Market and its segments. This study is also expected to provide region wise information about the applications, wherein military radars is used. This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
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