2024 Air Defense Radar Market Report : Market Size, Growth Drivers, And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Air Defense Radar Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The air defense radar market size has grown strongly in recent years. It will grow from Customise$6.78 billion in 2023 to $7.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. Customise 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 Customise$8.67 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. Customise 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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 GroupCustomise

Air Defense Radar Market 2024 Key Insights:

• The Air Defense Radar Market is expected to grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
• CustomiseAir Defense Radar Market Driven By Increasing Volume Of Air TravelCustomise
• CustomiseRaytheon Launches Game-Changing GhostEye Radar For Enhanced Air Defense SystemsCustomise
• CustomiseAsia-PacificCustomise 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.

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