2025-2034 Air And Missile Defense Radar Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Air And Missile Defense Radar Market Through 2025?
In the last few years, the air and missile defense radar market has experienced significant growth. Its size is expected to increase from $12.86 billion in 2024 to $13.95 billion in 2025, with a compound annual growth rate (CAGR) of 8.5%. The considerable growth during the historic period could be attributed to factors such as geopolitical tensions, upgrades to military infrastructure, the risk of missile proliferation, expanding defense budgets, and the emergence of asymmetric threats.

What's the Projected Size of the Global Air And Missile Defense Radar Market by 2029?
The market size for air and missile defense radar is anticipated to experience robust growth in the coming years. It is projected to reach $18.7 billion by 2029, boasting a compound annual growth rate (CAGR) of 7.6%. The expected growth during the forecast period is due to an increasing focus on national security, escalating investments in ballistic missile defense, the integration with c4isr systems, the global arms race, and technological advancements in radar systems. Notable trends predicted during the forecast period encompasses the inclusion of artificial intelligence (AI), the advancement of naval air and missile defense systems, an emphasis on cybersecurity, international collaboration in radar development, and the installation of 3d radar systems.

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Top Growth Drivers in the Air And Missile Defense Radar Industry: What's Accelerating the Market?
The upward trend in global military expenditure is propelling the air and missile defense radar market. This military expenditure, referring to the allocated proportion of a nation's budget towards the preservation of its defense forces or other defense systems, is termed as a military expenditure plan. As nations boost their investment in defense and military, their funding in sophisticated technologies like air and missile defense radars is also escalating to amplify their ability to identify and intercept imminent threats. For example, fighter planes equipped with radar are used to locate and control air-to-air missiles, rockets, and weaponry in the military. Take April 2024 for instance; according to data from the Stockholm International Peace Research Institute, a Sweden-based institute focusing on international security issues, the total worldwide military expenditure touched $2.443 trillion in 2023. This marked a 6.8 percent gain in real terms against 2022. Owing to these reasons, the escalating military spending worldwide is the driving force behind the growth in the air and missile defense radar market.

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What Trends Will Shape the Air And Missile Defense Radar Market Through 2029 and Beyond?
Innovations in technology within the air and missile defense radar markets are increasingly becoming a trend in the market. Predominant companies in the air and missile defense radar marketplace are honing their efforts on creating new technologies, like networked radar systems, to maintain their market standing. Networked radar systems, which are interconnected with each other and other defense systems, facilitate better information dissemination and coordination among various systems. This results in enhanced situational awareness and a more efficient defense system. As an illustration, in February 2023, ELTA Systems Ltd., an Israel-based company specializing in defense products and services with a focus on radar, unveiled the ELM-2090 TERRA Strategic Early Warning System. TERRA is a dual-radar system with exceptional detection and tracking abilities against long-range, low-RCS targets by employing both UHF and S-band radars. Each potent system can operate independently, but when used collectively, the system performance elevates to an even higher level.

What Are the Main Segments in the Air And Missile Defense Radar Market?
The air and missile defense radar market covered in this report is segmented -

1) By Platform: Airborne, 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

Subsegments:
1) By Airborne: Fighter Aircraft Radars, UAV Radars, Helicopter Radars
2) By Land: Ground-Based Radars, Mobile Radars, Fixed Site Radars
3) By Naval: Shipborne Radars, Coastal Surveillance Radars, Submarine Radars

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Which Top Companies are Driving Growth in the Air And Missile Defense Radar Market?
Major companies operating in the air and missile defense radar market include 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.

Which Regions Will Dominate the Air And Missile Defense Radar Market Through 2029?
North America was the largest region in the air and missile defense radar market in 2024. 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

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