Military Radar Market: Introduction
The global military
radar market is
expanding at a significant pace, due to increasing military activities across
the globe, according to Transparency Market Research. Some of the prominent
players operating in the global military radar market are Northrop Grumman,
Saab, Raytheon, Israel Aerospace Industries, Leonardo, Terma, and BAE Systems.
These players are adopting several strategies such as
technological innovations, new product launches, collaboration and mergers, and
acquisitions to gain higher market share. Apart from this, favorable
government schemes regarding research and development of military radars is
another factor driving the global military radar market. In March 2019,
the U.K. Government organized an event with an aim to form a collaboration of
several players to develop next-generation air power systems. Similar
activities have been noted in several other countries as well. This is expected
to drive the global military radar market during the forecast period.
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According to TMR, the global military radar market is
expected to reach value of ~US$ 10 Bn by the end of 2027.
The market is projected to expand at a steady CAGR of ~3% from 2019 to 2027.
Geographically, North America is expected to dominate the
global military radar market throughout the forecast period. This is primarily
due to the increasing investment in military radar systems by the U.S. to
retain its technological superiority. Among types, the airborne military radars
segment is expected to lead the global market during the forecast period, owing
to increasing risks of air strikes and airborne terrorist infiltrations across
the world.
High Rate of Research and Development Activities to Drive
Global Market
A radar system is a powerful technology emerging at a rapid
pace. A prominent feature that has prompted countries to invest in the radar
mechanism is its high potential to retaliate undesirable entry in a county’s
territory. Owing to this, countries are spending significantly on the radar
mechanism to tighten up border security. On account of this, the global
military radar market is expected to expand in the next few years, as countries
are increasingly becoming alert on security issues.
Apart from this, several programs to improve the capability
of air radar systems are going on. Some of them are Air & Missile Defense
Radar (AMDR) program, the Acoustic Rapid COTS Insertion (A-RCI) program, the
Space Fence program, and procurement of AN/TPS-59, AN/TPS-63, and AN/TPS-80
radar systems. These programs are anticipated to fuel the global military radar
market during the forecast period.
Airborne Military Radars Continue to Witness High Demand
Based on type, the global military radar market has been
segmented into ground-based, naval, airborne, and space-based. Out of these,
the airborne segment led the global market in 2018. The 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 worldwide. Airborne military radars are likely to
continue to witness a high rate of research and development activities in the near
future.
Leading 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, and DRS Technologies
Inc. These companies are taking steps to strengthen their radar business
segments. For instance, in 2018, Saab AB, an aerospace and Defense Company,
combined its business unit i.e. surface radar solutions and airborne surveillance
systems.
The information presented in this review is based on a
report by Transparency Market Research titled, ‘Military Radar Market
(Type: Ground Based, Naval, Airborne, and Space Based) – Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2027.’
Global Military Radar Market: Segmentation
Military Radar Market, by Type
- Ground-based
- Naval
- Airborne
- Space-based
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