Military Radars Market 2020-2027 to Bring Projecting Growth with Top Key Players Northrop Grumman Corporation, Thales Group, Lockheed Martin Corporation

Military Radars Market Outlook - 2027

The radars stand for radio detection and ranging system. A military radar system is a detection system which uses radio waves to determine the angle, range, and velocity of the objects. Radars are used by defense forces for several purposes such as for surveillance, to find targets & track their movements (aircrafts, missiles, UAVs, naval vessels, and military land vehicles), to direct other weapons, and in taking countermeasures against incoming threats. Military radars are also capable in detecting & classifying targets such as crawling men troops, group of walking men and low flying helicopters. Additionally, military radars are used for navigation purposes and also as weather radars.

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COVID-19 Scenario analysis:

Due to COVID-19 situation, the research & development inmilitary radarcompanies across the globe has been hampered due to the declared lockdowns and government restrictions on public gatherings.

As governments spending shift towards economic recovery due to COVID-19 pandemic, industries may experience reduction in quantity of order for military radars.

Production rate of military drone making companies have been affected adversely due to COVID-19 situation.

Cancellation of several military exercises between nations and reduction in military activities worldwide due to COVID-19, has been impacting adversely to military radars market as demand of relevant spare parts is also low.

Post COVID-19, military radars market can see a significant growth as several countries have either already ordered or planning to procure military drones for their forces.

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Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Rise in security concerns among countries, increase in defense budgets of emerging economies, and growth in use of radar systems are the factors which drive the military radarsmarket. However, high costs involved in development of radars and new radar jammer techniques may hamper the growth of military radars market. Although, development of new radar systems, increasing application of UAVs in combat roles, and increasing demand of next generation air & missile defense systems will offer new growth opportunities in the military radars market.

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Rise in security concerns among countries

Growth in regional conflicts, border disputes, and growth in terrorist activities has raised the security concerns among countries. Such concerns have enabled countries to procure advance defense systems such as military radars. For instance, in October 2018, India signed a deal with Russia to procure S400 missile defense system for 5.43 million USD (S400 system is equipped with advance radars, which can detect multiple targets from a distance of 600 Kms). Hence, due to security concerns, countries are procuring advance military systems such as military radars and thereby creating demand in global military radars market.

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