Overview and Scope
Air and Missile Defense Radar (AMDR) is a type of radar system used for detecting and tracking incoming threats such as ballistic missiles, cruise missiles, and other aerial threats. These radars are designed to provide early warning of potential attacks and to track multiple targets simultaneously.
Sizing and Forecast
The air and missile defense radar market size has grown strongly in recent years. It will grow from $12.05 billion in 2023 to $13.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to geopolitical tensions, modernization of military infrastructure, threat of missile proliferation, rising defense budgets, emergence of asymmetric threats..
The air and missile defense radar market size is expected to see strong growth in the next few years. It will grow to $17.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing focus on homeland security, rising investments in ballistic missile defense, integration with c4isr systems, global arms race, technological innovation in radar systems.. Major trends in the forecast period include incorporation of artificial intelligence (ai), expansion of naval air and missile defense systems, focus on cybersecurity, global collaborations in radar development, deployment of 3d radar systems..
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Segmentation & Regional Insights
The air and missile defense radar market covered in this report is segmented –
1) By Platform: Airbrone, Land, Naval
2) By Radar Type: X Band Radars, S Band Radars
3) By Range: Short Range, Medium Range, Large Range
4) By Application: Conventional, Ballistic Missile Defense
North America was the largest region in the air and missile defense radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the air and missile defense radar market report during the forecast period. The regions covered in the air and missile defense radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising military expenditure around the globe is driving the air and missile defense radar market going forward. Military expenditure refers to the amount of money allocated to maintaining an armed force or other forms of defense, which is known as a military expenditure plan (or military expense) and is part of a country’s defense budget. As countries increase their spending on military and defense, they are investing in advanced technologies such as air and missile defense radars to enhance their capabilities for detecting and intercepting incoming threats. In the military, fighter aircraft equipped with radar is used to track down and manage air-to-air missiles, rockets, and guns. For instance, in April 2022, according to an analysis by the World Bank, a US-based international financial institution that provides loans and grants, total global military expenditure increased to 2.08 trillion in 2021, compared to 1.95 trillion in 2020. and the total expenditure by the United States in 2021 was $800.67 billion. Therefore, the rising military across the globe is driving the market for air and missile defense radar.
Key Industry Players
Major companies operating in air and missile defense radar market are undergoing partnerships to develop air and missile defense radar systems such as SPY-6 system to gain a competetive edge in the market. The SPY-6 system is designed for six classes of naval vessels and can defend against ballistic missiles, cruise missiles, hostile aircraft, and surface ships simultaneously with increased range and sensitivity compared to older radar systems. For instance, in April 2022, CAES, a US-based technology company that provide critical missions collaborated with Raytheon Technologies, a US-based technology company. CAES was awarded a $200 million follow-on contract by Raytheon Technologies to supply fully tested modular assemblies for the AN/SPY-6(V)1 radar system, also known as the SPY-6 or Air and Missile Defense Radar (AMDR).
The air and missile defense radar market report table of contents includes:
1. Executive Summary
2. Air And Missile Defense Radar Market Characteristics
3. Air And Missile Defense Radar Market Trends And Strategies
4. Air And Missile Defense Radar Market – Macro Economic Scenario
5. Global Air And Missile Defense Radar Market Size and Growth
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31. Global Air And Missile Defense Radar Market Competitive Benchmarking
32. Global Air And Missile Defense Radar Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Air And Missile Defense Radar Market
34. Air And Missile Defense Radar Market Future Outlook and Potential Analysis
35. Appendix
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