Military Radar Market
Military Radar Market (Type: Ground-based, Naval, Airborne, and Space-based) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Military Radar Market: Overview
Radar systems are crucial in the detection of bombs and landmines that are not visible to the naked eye. One of the key products witnessing high demand in the global military radar marketplace is lightweight radars. High demand for these radars can be attributable to immense potential for their use in the domestic defense sector. Additionally, the global military radar market is currently being driven by increase in spending by countries to strengthen their border and domestic defense forces. Several incidences of civil unrest and terrorism worldwide are prompting several countries to amplify their defensive arrays, of which military radars form an irreplaceable component. However, wind turbines being installed in growing numbers across the world pose a key hindrance to military radars, as the movement of turbine blades can degrade radar reception significantly.
The global military radar market is expected to reach value of ~US$ 10 Bn by the end of 2027, expanding at a CAGR of above 3% from 2019 to 2027, in terms of revenue.
North America to Lead Global Market for Military Radars
Geographically, the global military radar market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2018, North America held a leading share of the global military radar market. The region also witnesses significant defense-related sanctions, which boosts the demand for radar systems for use in national defense forces in the region. The U.S. has one of the most powerful military forces in the world and it is a key contributor to the global military radar market. Additionally, the U.S. is home to a large number of players operating in the global military radar market including Lockheed Martin, The Boeing Company, and Northrop Grumman Corporation. Both the U.S. and Canada have invested significantly in the radar technology and they are likely to continue to do so in the next few years. Furthermore, the U.S. Army is also investing significantly in enhancing radar-related capabilities. For instance, in 2019, the U.S. Army offered a contract to Lockheed Martin to build technologically advanced military radar systems with multiple features. This would help the U.S. Army in addressing the threat of aircraft or drones.
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North America was followed by Asia Pacific, in terms of value, in the global military radar market, in 2017. Growth of the market in Asia Pacific is attributable to rising defense activities by countries such as China, India, South Korea, and Japan. Asia Pacific nations are currently facing serious issues of infiltration, which is the key reason for high defense budget allocations by countries in the region. The global military radar market is, thus consistently driven by substantial purchases of military radar systems made by developing nations.
Airborne Military Radars Continue to Witness High Demand
In terms of type, the global military radar market has been divided into ground-based, naval, airborne, and space-based. Of these, the global market was led by the airborne segment in 2018. Demand for airborne military radars is expected to continue to rise during the forecast period, owing to increasing risks of air strikes and airborne terrorist infiltrations. Airborne military radars are likely to continue to witness a high rate of research and development activities in the near future.
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Key players operating in the global military radar market include
- Lockheed Martin Corporation
- Raytheon Company
- The Boeing Company
- Northrop Grumman Corporation
- BAE System PLC
- Saab Sensis Corporation
- Harris Corporation
- ASELSAN A.S.
- Terma A/S
- DRS Technologies Inc.
Military Radar Market – Scope of the Report
This market research study analyzes the global military radar market and provides estimates in terms of revenue (US$ Mn) for the forecast period i.e. from 2019 to 2027. It describes the dynamics affecting the market and analyzes their anticipated impact throughout the forecast period. Moreover, it highlights significant opportunities for global market. Based on region, the global military radar market has been segmented into Europe, North America, Asia Pacific, Middle East & Africa (MEA), and South America. In addition, the market has been segmented based on type into ground-based, naval, airborne, and space-based. Market segments have been estimated in terms of revenue (US$ Mn).
For better understanding of the global military radar market, the study comprises market attractiveness analysis, wherein type segments have been benchmarked based on their market scope, growth rate, and market attractiveness. The global military radar market is fragmented, as no particular military radar manufacturer accounts for a major share of the market. Degree of competition is projected to be high among key players in the market during the forecast period. Market shares keep varying, as governments award contracts to companies and price value varies from one contract to another. Radar systems are being increasingly used in the defense industry. This is fueling the global military radar market. Ability of military radars to detect missiles, planes, or ships with high accuracy is one of the prominent factors driving the global military radar market.
Military Radar Market: Analytics Foundation
Radio detection and ranging (radar) systems help detect the range, direction, altitude, and speed of an object. Radar systems aim to combat any threat or attack and avert any damages to human life and property. Radar systems are used in several other applications. For instance, they help resolve navigational issues and track devices. Radars help determine the distance and speed of objects with precision and accuracy. Military radars are employed for several purposes such as search operations, fire control, and bombing or shelling. Military radars are used to locate planes and ships at large distances. Fire control radars provide the precision of bearing and range. These radars help operate artillery weapons. Bombing radars are utilized to determine the terrain to deploy attacks on a target. Besides these military operations, military radars are employed during national calamities such as earthquakes, tsunamis, and floods. Several research and development activities are being conducted to improve efficiency and reduce the size of radars. Lightness in weight, efficiency, and multi-functionality of radars are driving the global military radar market. These applications of military radars are expected to increase in the near future.
Based on type, the global military radar market has been segmented into ground-based, naval, airborne, and space-based. With advancements in technology, military radars are getting smarter, inexpensive, and smaller. Additionally, several military devices such as aircraft, ships, and tanks are equipped with radars; hence, the demand for military radars is rising. The global market for military radars is anticipated to expand significantly during the forecast period, considering the efforts to include several functions in a single radar.
Military Radar Market: Competition Landscape
The report also provides company market share analysis of various market participants. Acquisition is the key strategy being widely adopted by leading market players.
Key players operating in the global military radar market have been profiled and their company overview, financial overview, business strategies, and recent developments have been covered in the report. Major market participants profiled in this report are: Lockheed Martin Corporation, The Boeing Company, Raytheon Company, BAE System PLC, Northrop Grumman Corporation, Harris Corporation, Saab Sensis Corporation, Terma A/S, ASELSAN A.S., and DRS Technologies Inc.
The global military radar market has been segmented as below:
Military Radar Market, by Type
Military Radar Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report provides cross-sectional analysis of type segments of the military radar market with respect to the above-mentioned regions.