Press release
Surging Growth in Global Airborne Fire Control Radar Market: CAGR of 6.5% Expected by 2025
Airborne Fire Control Radar Market
What Is The Projected Market Size Of The Global Airborne Fire Control Radar Market And Its Growth Rate?
The airborne fire control radar market is anticipated to experience significant growth:
• From $2.88 billion in 2024 to $3.07 billion in 2025, showing a compound annual growth rate (CAGR) of 6.5%
• Predicated to further grow to $3.9 billion in 2029, at a CAGR of 6.2%.
• Factors leading to this growth include military modernization programs, threat evolution, integration with fighter aircraft, global conflicts, and counterterrorism operations.
• The forecast period growth could be attributed to speedy advancements in radar electronics, emphasis on beyond visual range engagement, development of passive and covert systems, and more prolific airborne surveillance.
What Is Driving The Growth In The Airborne Fire Control Radar Market?
Increasing global military expenditure is a prime factor fuelling the growth of the airborne fire control radar market. Military expenditure ensures armies are equipped with advanced weapons and equipment, and airborne fire control radars play an essential part in it. These radars ascertain and follow interesting targets, delivering accurate target localization. The European Defense Agency reported European defense spending of a record €240 billion in 2022, a 6% rise from 2021. Among the 27 EU Member States, 20 boosted their defense budgets, with six raising expenditures over 10%.
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Who Are The Key Players Driving Airborne Fire Control Radar Market Growth?
Key entities driving the airborne fire control radar market growth include:
• 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.
• NEC Corporation
• L3Harris Technologies Inc.
• ELTA Systems Ltd.
• Curtiss-Wright Corporation
• Elbit Systems Ltd.
• Kongsberg Gruppen
What Are The Key Trends In The Airborne Fire Control Radar Market?
Primary market trends include:
• Advancements in active electronically scanned array (AESA) technology.
• Implementation of gallium nitride (GAN) technology.
• Increased focus on software-defined radars.
• Integration of artificial intelligence (AI).
What Are The Segments Of The Global Airborne Fire Control Radar Market?
The global airborne fire control radar market is divided into:
1) By Frequency Band: L and S-Band, X-Band, Ku or K or Ka-Band
2) By Platform: Fighter Jets, Combat Helicopters, Other Platforms
3) By Application: Air To Ground, Air To Sea, Air To Air
Which Region Leads The Airborne Fire Control Radar Market?
North America was the largest region in the airborne fire control radar market in 2024. However, Asia-Pacific is anticipated to be the fastest-growing region in the forthcoming years. The report also covers other regions such as Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Airborne Fire Control Radar Market Global Market Report?
- Market Size Analysis: Analyze the Airborne Fire Control Radar Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Airborne Fire Control Radar Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Airborne Fire Control Radar Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Airborne Fire Control Radar Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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