This report offers a complete analysis of military radar market including product types, major applications, and key defense companies. It provides insight on industry trends and the most recent developments. This report provides an overview of key factors driving and restricting the global market for military radar. Market growth is influenced by many factors, both direct and indirect.
Military radars can be used
For various purposes, the military has made significant investments into radar technology. This includes tracking airborne enemies and monitoring them. Radars are commonly used in combat aircraft and bomber planes for locating enemy aircraft and moving them. Airborne radars are increasingly in demand as the world's air fleet grows.
Radars have the primary purpose of detecting targets. There are many factors that can affect radars' effectiveness. First, radar systems need to be able to distinguish between targets and uninteresting background signals. Background noise, which can come from both internal and outside sources, can decrease the detection range of targets. The radar system's ability to distinguish target from background noise is dependent on how high the signal-to noise ratio is.
Market size of military radars
A number of factors are driving the military radars market, including the increasing demand for surveillance and early warning as well the increased number of conflicts and terrorist acts around the globe. High development costs for radar systems are expected to limit the market. Raytheon Technologies Corporation; Lockheed Martin Corporation; Thales Group; and Leonardo S.P.A., are the main players in this space.
North America dominates the market for military radios, followed closely by Asia-Pacific. This market is growing due to rising defense spending in developing nations.
Market Trends
The report on trends and market for military radars provides an in-depth analysis of the current market. The report also gives a detailed view of the business opportunities available in this market. The report also lists the key market drivers and challenges. These include the increasing demand for vehicle safety, border security and the development in electronic warfare. These are expected to propel the market forward but high development costs are hindering its growth.
The market for military radar can be broken down into segments according to their application or platform. The short-range market will dominate by 2020. Long-range radars primarily serve maritime operations and navy surveillance. A contract was signed by the United States Army for the purchase of a radar system. It will cost more that USD 89million.
Market players
There are several key players in the global military radar market. The report gives detailed information on each manufacturer and their business strategies. The report also offers insights about recent deals and co-development activities in the market. This information assists in making informed decisions regarding revenue streams and business opportunities. This report also identifies the main challenges that are limiting market growth.
China is the biggest market for marine radar. Its maritime economy accounts for a large proportion of the country's GDP. This will ensure that there will be a continued increase in demand for these goods over the next several years. In addition, the country is pursuing economic growth, with successive increases in exports and industrial production. In addition, the country will benefit from increased consumer demand.
Regional outlook on military radars
The growth of defense spending by governments is fueling the global military-radar market. This includes expenditures on weapons, maintenance, operations, research and development, as well as weapons and armored vehicle acquisitions. According to the Stockholm International Peace Research Institute, global military spending reached $1917 billion in 2019. China's military spending rose 7.1%, and India's by 6.8%. Accordingly, the market in military radars is expected to grow rapidly over the coming years.
The Military Radars market is segmented into Ground Surveillance and Intruder Detection, Air And Missile Defense, Navigation, and Space. These systems have two main applications: airborne mapping and protection of ground forces. The global market for military radars is expected to reach USD 19220 million by 2028, at a 3.9% CAGR.