Air And Missile Defense Radar Market Key Players, Analysis, Share, Trends And Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Air And Missile 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 $17.72 billion In 2028 At A CAGR Of 7.8%.

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..

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Air And Missile Defense Radar Market Major 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 Driver - 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.

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Prominent Trend - 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.

Air And Missile Defense Radar Market Players
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. .

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Largest And Fastest Growing Region In The Market
North America was the largest region in the air and missile defense radar market in 2023. Asia-Pacific is expected to be the fastest-growing region in the air and missile defense radar market report during the forecast period. The regions covered in the air and missile 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 And Missile Defense Radar Market Report Structure
3. Air And Missile Defense Radar Market Trends And Strategies
4. Air And Missile Defense Radar Market - Macro Economic Scenario
5. Air And Missile Defense Radar Market Size And Growth
…..
27. Air And Missile 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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