Press release
Airborne Fire Control Radar Market Analysis, 2027 Specification, Growth Drivers, Industry Analysis Forecast 2027
The demand for air and missile radar systems has increased significantly, owing to adoption of active electronically scanned array (AESA)-based systems, rise in concern for border security, automation of defense and surveillance radar systems, increase in military spending in various developing countries and others.Airborne Fire Control Radar Market by Frequency Band and Geography: Global Opportunity Analysis and Industry Forecast, 2014-2022," forecasts that the world airborne fire control radar market is expected to reach $3,455 million by 2022, growing at a CAGR of 3.9% from 2016 to 2022. X-band segment is expected to witness highest growth rate, while region-wise North America is projected to lead the market during the forecast period.
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Radar has been extensively used by the defense industry after the Second World War and is now among the crucial component in military communications. High number of advancements in the recent years in radar technologies has given rise to increased flexibility of the tools. This has also resulted in the development of AESA in the airborne fire control radar systems. These types of phased array radar systems are much more precise, making it easier for airborne fire control radar in easy tracking of the target.
Furthermore, territorial conflicts in Asia-Pacific and Middle East & Africa pose a major challenge in today's environment. The cause for such conflicts includes a mix of political and economic interests, normative reasons, and struggle over scarce natural resources. It has been seen in the past that territorial conflicts were the leading cause of war, especially if two countries disagreed over specific parts of territory. Due to this, the countries have secured their borders with effective technologies through air, water, and land; this increase in security concerns gives rise to the demand for airborne fire control radar systems worldwide.
In terms of frequency band, S-band accounted for the maximum revenue share during the forecast period. In addition, X-band airborne fire control radar is expected to grow at the fastest rate.
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"By region, Asia-Pacific is projected to be one of the fastest growing airborne fire control radar markets during the forecast period, due to the strong economic growth and rising military expenditure, industrial development, and civil unrest situations in countries including India, Japan, and China," states lead analyst Rohit Sharma, ICT & Media Research, at AMR. North America accounted for majority of the global market share in 2015, and is expected to maintain its dominance during the forecast period.
Driving factors for the market
1 Transition towards AESA based systems
2 Growing security concern due to territorial conflicts
3 Rising investments in military
4 Rise in research and development activities
Market Restraints and Opportunities:
1 Growing cyber warfare
2 Incapability of radars in detecting stealth technologies
3 Increasing usage in commercial application
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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