Press release
Air Defense Radar Market Size, Share, Outlook, Growth, Volume And Forecast Report 2024-2033
Air Defense Radar Market Size
Air Defense Radar Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.67 Bn In 2028 At A CAGR Of 4.8%
The air defense radar market size has grown strongly in recent years. It will grow from $6.78 billion in 2023 to $7.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to military conflicts and geopolitical tensions, development of integrated air defense networks, evolution of stealth and electronic warfare capabilities, upgrades and modernization programs of existing air defense systems.
The air defense radar market size is expected to see steady growth in the next few years. It will grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to rise of multi-functional and multi-mission radar systems, shift towards mobile and expeditionary air defense solutions, emphasis on network-centric warfare and interoperability, surge in demand for radar systems with counter-rocket, artillery, and mortar (c-ram) capabilities, increasing investments. Major trends in the forecast period include increased focus on countering unmanned aerial vehicles (UAVs) and drones, long-range, high-resolution surveillance capabilities, integration of artificial intelligence and machine learning for threat detection and classification, expansion of air defense capabilities in emerging markets, adoption of next-generation radar technologies for enhanced situational awareness.
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Air Defense Radar Market Major Segments
The air defense radar market covered in this report is segmented -
1) By Product Type: Synthetic Aperture And Moving Target Indicator Radar, Surveillance Radar, Airborne Early Warning Radar, Multi-Functional Radar, Weather Radar, Other Product Types
2) By System Type: Fixed, Portable
3) By Platform: Ground-Based, Aircraft-Mounted, Naval-Based
4) By Range: Long Range, Medium Range, Short Range
5) By Application: Ballistic Missile Defense, Identification Friend Or Foe, Weather Forecasting, Other Applications
Key Driver - Air Defense Radar Market Driven By Increasing Volume Of Air Travel
The increasing volume of air travel is expected to fuel the growth of the air defense radar market going forward. Air travel refers to the movement of passengers, freight, or mail by airplane between two or more locations. The volume of air travel is increasing due to factors such as the emergence of low-cost carriers (LCCs), open skies agreements between countries, investment in airport infrastructure, and tourism growth. Air defense radar indirectly supports the volume of air travel by ensuring the safety and security of airspace, which is essential for maintaining the confidence of passengers, airlines, and regulators in the safety of air travel. For instance, in 2022, according to the Bureau of Transportation Statistics, a US-based government agency, U.S. airlines carried 853 million passengers, which represents a 30% increase over the previous year's figure of 658 million passengers in 2021. Therefore, the increasing volume of air travel is driving the air defense radar market.
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Prominent Trend - Raytheon Launches Game-Changing GhostEye Radar For Enhanced Air Defense Systems
Major companies operating in the air defense radar market are developing innovative products, such as advanced medium-range air and missile defense radar, to stay competitive and meet evolving customer needs. The advanced medium-range air and missile defense radar (AMDR) is a powerful radar system capable of detecting, tracking, and intercepting airplanes and ballistic missiles. It is a multifunction radar system that can perform surveillance, target acquisition, and fire control operations for air and missile defense systems. For instance, in October 2021, Raytheon, a US-based aerospace and defense company, launched GhostEye, an advanced medium-range air and missile defense radar designed to defeat advanced threats, including hypersonic weapons, with three antenna arrays for detecting and engaging multiple threats simultaneously from any direction. GhostEye provides comprehensive and reliable threat detection to ensure that nothing goes unseen in the modern battlespace. GhostEye MR radar is a 360-degree surveillance and fire control sensor designed to detect, track, and identify a wide variety of threats. GhostEye MR radar is intended for integration with the National Advanced Surface-to-Air Missile System (NASAMS), enhancing its capabilities to counter evolving threats. The radar system uses advanced technologies like active electronically scanned arrays (AESA) and military-grade gallium nitride (GaN) to improve detection, targeting, tracking, and overall performance.
Air Defense Radar Market Players
Major companies operating in the air defense radar market are RTX Corporation, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems plc, L3Harris Technologies Inc., Thales Group, Leonardo S.p.A., Rheinmetall Defence Electronics GmbH, CACI International Inc., Babcock International Group, MBDA Missile Systems, Israel Aerospace Industries Ltd., Indra Sistemas SA, Kongsberg Gruppen ASA, Rafael Advanced Defense Systems Ltd., Rohde & Schwarz GmbH & Co KG, Aselsan AS, Hensoldt AG, QinetiQ Group plc, Saab AB, Ultra Electronics Holdings plc, Terma AS, RADA Electronic Industries Ltd., Elta Group
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the air defense radar market in 2023. The regions covered in the air defense radar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Air Defense Radar Market Report Structure
3. Air Defense Radar Market Trends And Strategies
4. Air Defense Radar Market - Macro Economic Scenario
5. Air Defense Radar Market Size And Growth
…..
27. Air Defense Radar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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