Air And Missile Defense Radar Global Market Report 2024 | Size, Share, Growth, Trends, Analysis, Forecast, Outlook, Mergers and Acquisitions, Top Major Key Players | 2033 Forecast

The air and missile defense radar market size has grown strongly in recent years. It will grow from $12.05 billion in 2023 to $13.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to geopolitical tensions, modernization of military infrastructure, threat of missile proliferation, rising defense budgets, emergence of asymmetric threats..

The air and missile defense radar market size is expected to see strong growth in the next few years. It will grow to $17.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing focus on homeland security, rising investments in ballistic missile defense, integration with c4isr systems, global arms race, technological innovation in radar systems.. Major trends in the forecast period include incorporation of artificial intelligence (ai), expansion of naval air and missile defense systems, focus on cybersecurity, global collaborations in radar development, deployment of 3d radar systems..

Market Overview -
Air and Missile Defense Radar (AMDR) is a type of radar system used for detecting and tracking incoming threats such as ballistic missiles, cruise missiles, and other aerial threats. These radars are designed to provide early warning of potential attacks and to track multiple targets simultaneously.

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Military Expansion Fuels Growth In Air And Missile Defense Radar Market
The rising military expenditure around the globe is driving the air and missile defense radar market going forward. Military expenditure refers to the amount of money allocated to maintaining an armed force or other forms of defense, which is known as a military expenditure plan (or military expense) and is part of a country's defense budget. As countries increase their spending on military and defense, they are investing in advanced technologies such as air and missile defense radars to enhance their capabilities for detecting and intercepting incoming threats. In the military, fighter aircraft equipped with radar is used to track down and manage air-to-air missiles, rockets, and guns. For instance, in April 2022, according to an analysis by the World Bank, a US-based international financial institution that provides loans and grants, total global military expenditure increased to 2.08 trillion in 2021, compared to 1.95 trillion in 2020. and the total expenditure by the United States in 2021 was $800.67 billion. Therefore, the rising military across the globe is driving the market for air and missile defense radar.

Competitive Landscape -
Major companies operating in the air and missile defense radar market report are BAE Systems Inc., Israel Aerospace Industries Ltd., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Reutech Radar Systems, SAAB AB, Telephonics Corporation, Thales Group, Airbus Group Inc., Aselsan AS, DeTect Inc., General Dynamics Corporation, Indra Sistemas SA, Hensoldt AG, Almaz Antey Corporation, Finmeccanica SpA, Rockwell Collins Inc., Bharat Electronics Limited, The Boeing Co., FLIR Systems Inc., Honeywell International Inc., L3Harris Technologies Inc., NEC Corporation, QinetiQ Group plc, Reutech Radar Systems Pty Ltd., Terma A/S, ThalesRaytheonSystems LLC, Toshiba Corp. .

The Rise Of Networked Radar Systems In The Air And Missile Defense Radar Market
Technological advancements in the air and missile defense radar markets have emerged as a key trend gaining popularity in the market. Major companies operating in the air and missile defense radar market are focused on innovating new technologies, such as networked radar systems to sustain their position in the market. Networked radar systems are connected to each other and other defense systems, which allows for improved information sharing and coordination between different systems, leading to improved situational awareness and more effective defense. For instance, in February 2023, ELTA Systems Ltd., an Israel-based defense products and services company specializing in radar, introduced the ELM-2090 TERRA Strategic Early Warning System. TERRA is a dual-radar system with unsurpassed detection and tracking capabilities against long-range, low-RCS targets by using both UHF and S-band radars. Each powerful system can function independently, but when they are deployed together, system performance is taken to an even higher level.

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Key Segments -
The air and missile defense radar market covered in this report is segmented -
1) By Platform: Airbrone, Land, Naval
2) By Radar Type: X Band Radars, S Band Radars
3) By Range: Short Range, Medium Range, Large Range
4) By Application: Conventional, Ballistic Missile Defense

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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