Military Radars Global Market 2023 - By Segmentation, Growth Prospects, Future Trends, Top Key Players And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Military Radars Global Market Report 2023 identifies growth in defense spending by emerging economies as the major driver for the Military Radars market's growth in the forecast period. 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.

The global military radars market size will grow from $57.91 billion in 2022 to $62.66 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military radars market size is expected to grow to $79.37 billion in 2027 at a CAGR of 6.1%.

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Major competitors in the Military Radars market are Lockheed Martin, Raytheon Technologies, Thales Group, BAE Systems, Israel Aerospace Industries, Leonardo, SAAB, ASELSAN, Hensoldt.

A key trend in the Military Radars market includes the MIMO (multiple inputs, multiple outputs) system. A MIMO radar system is used for simultaneous transmission and reception by multiple antennas or channels. They are also used to gain a low probability of intercepting radar signals. For instance, in November 2020, Advanced Protection Systems Inc., a US-based security system supplier, introduced an advanced FIELDctrl 3D MIMO radar for military, security, and critical infrastructure applications. The advanced radar is large, featuring MIMO, MHT, and micro-doppler capabilities. The advanced radar addresses requirements such as precision of detection and classification, quality of clutter removal, accuracy of tracking, and a super-high refresh rate in military applications.

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The Military Radars market is segmented -

• By Type: Land Radar, Naval Radar, Airborne Radar, Space-Based Radar
• 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
• 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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Military Radars market.

The Business Research Company's "Global Military Radars Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Military Radars Market Include:

1. Executive Summary
2. Military Radars Market Characteristics
3. Military Radars Market Trends And Strategies
4. Military Radars Market - Macro Economic Scenario
5. Military Radars Market Size And Growth
………………………………
26. Africa Military Radars Market
27. Military Radars Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Military Radars Market
29. Military Radars Market Future Outlook and Potential Analysis
30. Appendix

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