Airborne Fire Control Radar Global Market Overview, Driving Factors, Future Trends, Key Players and Growth Opportunities And Forecast By 2033

"The Business Research Company recently released a comprehensive report on the Global Airborne Fire Control 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.

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According to The Business Research Company's, The airborne fire control radar market size has grown strongly in recent years. It will grow from $2.75 billion in 2023 to $2.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to military modernization programs, threat evolution, cold war era developments, integration with fighter aircraft, multi-functionality requirements, global conflicts and counterterrorism operations.

The airborne fire control radar market size is expected to see strong growth in the next few years. It will grow to $3.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rapid advancements in radar electronics, integration with network-centric warfare, emphasis on beyond visual range engagement, demand for lightweight and compact systems, development of passive and covert systems, global expansion of airborne surveillance. Major trends in the forecast period include advancements in active electronically scanned array (aesa) technology, implementation of gallium nitride (gan) technology, increased focus on software-defined radars, incorporation of artificial intelligence (ai).

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Market Drivers and Trends:

The increasing demand for aircraft is expected to propel the growth of the airborne fire control radar market going forward. An aircraft is a machine that is held aloft in the air and is supported for flight by buoyancy or by the dynamic action of air on its surfaces, especially powered by jet engines or the shape of the aircraft's wing. The airborne fire control radar plays a crucial role in aircraft by providing accurate guidance to pilots while targeting and engaging enemy aircraft or ground targets. For instance, in February 2023, according to a report shared by Airbus SE, a Netherlands-based aerospace corporation, there were 1,078 gross orders for commercial aircraft in 2022, up from 771 in 2021, and 820 net orders (after cancellations), up from 507 in 2021. Therefore, the increasing demand for aircraft is driving the growth of the airborne fire control radar market.

Technological advancements are a key trend gaining popularity in the airborne fire control radar market. Major companies operating in the airborne fire control radar market are focused on developing technologically advanced products to strengthen their market position. For instance, in August 2022, Northrop Grumman Corporation, a US-based aerospace and defense technology company, demonstrated its AN/TPS-80 Ground/Air Task Oriented Radar (G/ATOR), an advanced fire control radar capability for the Marine Corps. Northrop Grumman's AN/TPS-80 Ground/Air Task Oriented Radar (G/ATOR) multifunction sensor successfully detected and tracked numerous cruise missile threats concurrently. Following the launch, G/ATOR successfully tracked every target and transmitted pertinent information in real-time to intercept several cruise missile targets from various angles. During an accurate simulation of an enemy attack, the AN/TPS-80 showed a variety of performance capabilities. As the world's most advanced expeditionary radar, G/ATOR is unmatched in its capacity to detect multiple airborne targets simultaneously with weapons-quality accuracy and 360-degree surveillance.

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Major Key Players of the Market:

Bharat Electronics Limited, Hensoldt AG, Israel Aerospace Industries Ltd., Leonardo S.p.A., Lockheed Martin Corporation, BAE Systems plc, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Thales Group, General Dynamics Corporation, Airbus SE, ASELSAN A.S., Honeywell International Inc., Lufthansa Systems, NEC Corporation, ADB Airfield Solutions LLC, Advanced Navigation & Positioning Corporation, Systems Interface Limited, L3Harris Technologies Inc., Lehmann & Voss & Co. KG, AGC Chemicals Americas, ELTA Systems Ltd., BASF, Celanese, RTP Company, Quadrant Group, A. Schulman Inc., Airport Lighting Company, API Technologies

Airborne Fire Control Radar Market 2024 Key Insights:

• The airborne fire control radar market size is expected to see strong growth in the next few years. It will grow to $3.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Growing Military Expenditure Fuels Airborne Fire Control Radar Market
• Technological Advancements Drive Innovation In Airborne Fire Control Radar Market
• North America was the largest region in the airborne fire control radar market in 2023

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