Military Radar Market Set to Grow from $13.9 Billion in 2021 to $25.1 Billion by 2031

According to a new report published by Allied Market Research, titled, "Military Radar Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Range, by Frequency, by Application, by Platform : Global Opportunity Analysis and Industry Forecast, 2021-2031". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The military radar market was valued at $13.9 billion in 2021, and is estimated to reach $25.1 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.

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North America dominates the market, in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. In addition, Asia-Pacific is expected to grow at the highest growth rate over the forecast period, owing to the rising defense investment.

The aircrafts in military are used for various tasks such as airlifting troops, cargo resupply, firefighting, and medical evacuation. Various countries have concentrated to modernize their military aircrafts, and some fleet modernization programs are already in work. With the rise in traffic of air passengers, the airline companies are putting orders for new aircraft to expand and modernize their convoys. Likewise, many developing countries are endeavoring to boost their aerial combat and transport capabilities, which is creating new orders for military aircraft. Such factors are concurrently creating demand for military radar in airborne.

The demand for military radar systems on land is increasing as it reduces the requirement for non-specialized radar systems. Moreover, it is also efficient enough to detect low-flying aircraft, land vehicles, marine vessels, personnel, and avian targets. Such capabilities make it ideal for accurate surveillance results, thereby increasing the demand for military radar in land globally.

The military radar market is segmented on the basis of component, range, frequency, application, platform, and region. On the basis of component, it is divided into antenna, transmitter, receiver, duplexer, and others. On the basis of range, it is classified into short, medium, and long. On the basis of frequency, it is classified into C-band, S-band, X-band, and others. On the basis of application, it is classified into airspace monitoring & traffic management, space situation awareness, maritime patrolling, weapon guidance, and others. On the basis of platform, it is classified into airborne, land, and naval. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on component, the antenna segment contributed to the largest share of more than two-fifths of the global military radar market in 2021, and is expected to maintain a noteworthy revenue growth during the forecast period. Antenna is the largest segment in global military radar market as the defense industry is always evolving, and armed forces need next-generation defense systems. Currently, defense forces use an active phased array type of antenna that offer a complete image of the area under surveillance. This has led to the rising demand for antenna in military radar across the world. However, the duplexer segment is projected to witness the fastest CAGR of 10.2% from 2022 to 2031. There is a rise in demand for duplexers in military electronic devices for airborne communication, underwater communication, and ground-based communication as they offer bi-directional communication.

On the basis of range, the short-range segment accounted for the highest market share of nearly half of the global market revenue in 2021 and is projected to retain its dominance throughout the forecast timeframe. This is because governments across the globe are investing largely in short-range systems for capturing things clearer and better connectivity in upcoming space missions and communications. In response to this trend, prominent companies are developing innovative short-range radar technologies that facilitate a 360-degree surround-view, specifically designed for military and naval applications.

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The regional analysis in the report indicates that the market across North America gained the highest market share in 2021, contributing to nearly half of the global military RADAR market and would retain its dominant status during the forecast period. The region's significant imposition of defense-related sanctions has amplified the need for military radars, both within national boundaries and across international defense forces. The United States stands as one of the most robust military powers globally and serves as a pivotal contributor of military radar systems to the worldwide market. Additionally, it hosts a substantial array of manufacturing companies operating on a global scale. On the other hand, the Asia-Pacific region would display a notable CAGR of 8.1% from 2022 to 2031, owing to growing expenditure on defense products by several countries like India, China, and Japan.

The key players operating in the military radar market are Aselsan A.S., BAE Systems plc, Israel Aerospace Industries, L3Harris Technologies, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Saab AB, Thales Group, and The Raytheon Company.

Analyst Review

The market is expected to witness a steady growth due to the rising need of radars for defense applications that can correctly spot the projectiles coming at hypersonic speeds. The majority of missile defense systems are ship-based or ground-based, which employ missiles to block potential dangers. To efficiently calculate the elevation, distance, and range of threats, military radars should be able to follow the location of the approaching missile in three dimensions.

The military radar is used to work in the toughest environments to support battle operations. The military radar system conditions are often more rigorous than those inflicted on commercial practices. Radar systems have many applications and can be used to identify surfaces to slight changes over time like the detection of footprints in narrow depth. The military radar comprises of a transmitter that generates an electromagnetic signal which is emitted into space through an antenna. When this signal hits the object, it gets reradiated or reflected in many directions. This echo signal or reflection is taken by the military radar antenna which sends it to the receiver, where it is administered to ascertain the geographical indicators of the object. The introduction of AESA type of technology together with gallium nitride type of semiconductors and innovation in the digital computation are driving the replacement programs for all platforms. Also, the rising requirement for military radars at all levels, from hypersonic missiles to drones support the military radar market.

Key Benefits For Stakeholders:

➢ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the military radar market analysis from 2021 to 2031 to identify the prevailing military radar market opportunities.
➢ The market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the military radar market segmentation assists to determine the prevailing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
➢ The report includes the analysis of the regional as well as global military radar market trends, key players, market segments, application areas, and market growth strategies.

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Reasons to Buy This Military Radar Market Report:

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➢ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
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➢ Report will be updated with the latest data and delivered to you within 2-4 working days of order.
➢ Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
➢ Create regional and country strategies on the basis of local data and analysis.

★ Press Release:

Military RADAR Market to Gain $25.1 Billion, by 2031 at 6.5% CAGR: States Allied Market Research
https://www.globenewswire.com/news-release/2023/11/16/2781953/0/en/Military-RADAR-Market-to-Gain-25-1-Billion-by-2031-at-6-5-CAGR-States-Allied-Market-Research.html

Military Radar Market to Reach $25.1 Billion, Globally, by 2031 at 6.5% CAGR: AMR
https://www.prnewswire.com/news-releases/military-radar-market-to-reach-25-1-billion-globally-by-2031-at-6-5-cagr-allied-market-research-301747803.html

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