Overview and Scope
Military radar is a detection system used in the military to detect the presence, direction, distance, and speed of air, ground, and sea targets. The military radar includes components such as a transmitter, antenna, receiver, and indicator.
Sizing and Forecast
The military radars market size has grown strongly in recent years. It will grow from <b>$61.38 billion in 2023 to $65.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the historic period can be attributed to national security and defense, technological advancements, threat detection and tracking, electronic warfare (ew).
The military radars market size is expected to see strong growth in the next few years. It will grow to <b>$82.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. </b> The growth in the forecast period can be attributed to rapid technological advancements, counter-uas and counter-hypersonic capabilities, integration of radar with c4isr systems, geopolitical tensions. Major trends in the forecast period include stealth and low observability detection, digital signal processing (dsp), c4isr integration, green radar technology.
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Segmentation & Regional Insights
The military radars market covered in this report is segmented –
1) By Type: Land Radar, Naval Radar, Airborne Radar, Space-Based Radar
2) By Functionality: Surveillance And Airborne Early Warning Radar, Tracking And Fire Control Radar, Multi-Function Radar, Synthetic Aperture And Moving Target Indicator Radar, Ground Penetrating Radar
3) By Application: Weapon Guidance, Airspace Monitoring And Traffic Managent, Ground Surveillance And Intruder Detection, Air And Missile Defense, Navigation, Airborne Mapping, Ground Force Protection And Counter-Battery, Mine-Detection And Underground Mapping
<b>North America</b> was the largest region in the military radar market in 2023. <b>North America</b> is expected to be the fastest-growing region in the military radars market during the forecast period. The regions covered in the military radars 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
Growth in defense spending by emerging economies has contributed to the growth of the military radar market. Military spending includes operation, maintenance, procurement of weapons and armoured vehicles, and military research and development. For instance, in April 2022, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute on arms control, arms transfers, and non-proliferation, in 2021, total global military spending was expected to increase by 0.7% in real terms to $2113 billion. This was the seventh straight year that spending increased. China, the world’s second-largest spender, allocated an estimated $293 billion to its military in 2021, a 4.7% increase over 2020. China’s military spending has increased for the past 27 years. The growth in defense spending by emerging economies drove the military radar market.
Key Industry Players
Major companies operating in the military radars market include <b>Lockheed Martin Corporation, Raytheon Technologies Corporation, Thales Group, BAE Systems plc, Israel Aerospace Industries, Leonardo, Saab AB, Aselsan A.Ş., Hensoldt AG, Airbus SE, General Dynamics Corp, Northrop Grumman, Honeywell International Inc., L3Harris Technologies Inc., Terma A/S, QinetiQ Group PLC, Reutech Radar Systems, Easat Radar Systems Limited, Indra Sistemas S.A., Bharat Electronics Limited, ZTE Corporation, Elbit Systems Ltd., Wartsila Corporation, Mitsubishi Electric Corporation, Safran Electronics & Defense, Selex ES Inc.</b>
The military radars market report table of contents includes:
1. Executive Summary
2. Military Radars Market Characteristics
3.Military Radars Market Trends And Strategies
4.Military Radars market analysis
5.Military Radars Market Size And Growth
6.Military Radars Segmentation
7. Military Radars Regional And Country Analysis
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27.Military Radars Competitive Landscape And Company Profiles
28.Military Radars Key Mergers And Acquisitions
29.Military Radars Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- Thales Group
- BAE Systems plc
- Israel Aerospace Industries
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