Air And Missile Defense Radar Industry to See Robust Expansion, Valued at $18.52 Billion by 2029

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What Is the Projected CAGR for the Air And Missile Defense Radar Market from 2024 to 2025?
Significant growth has been observed in the air and missile defense radar market in the last few years. The projected escalation is from $12.86 billion in 2024 to a whopping $13.87 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.9%. This substantial increase during the historic stage is largely due to factors such as geopolitical conflicts, updating of military infrastructures, the looming risk of missile proliferation, increased defence budgets, and the rise of asymmetric threats.

What are the Expected Market Size and CAGR for Air And Missile Defense Radar by 2029?
The market for air and missile defense radar is anticipated to witness robust growth in the coming years, projected to reach $18.52 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.5%. This forecasted expansion during the period is attributed to the increasing emphasis on homeland security, escalating investments in ballistic missile defense, integration with c4isr systems, the global arms competition, and technological advancements in radar systems. Significant trends for the forecasted phase comprise the integration of artificial intelligence (AI), the development of naval air and missile defense systems, enhanced emphasis on cybersecurity, worldwide collaborations for radar development, and the implementation of 3D radar systems.

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Which Factors Are Driving the Global Air And Missile Defense Radar Market Expansion?
The escalation in worldwide military expenditure is nudging forward the market for air and missile defense radar. Military expenditure, the funds allocated for the upkeep of an armed force or alternative defense forms, is otherwise dubbed a military expenditure plan or military expense, and constitutes a section of a nation's defense budget. As nations hike their military and defense allocations, investment in sophisticated technologies like air and missile defense radars is also increasing to bolster their threat detection and interception capabilities. Within the military arena, radar-fitted fighter aircraft are deployed to track and handle air-to-air missiles, rockets, and guns. For example, the Stockholm International Peace Research Institute, a Sweden-based global security research body, cited in April 2024 that the total worldwide military spending rose to $2.443 trillion in 2023, a 6.8 percent lift in real terms from the previous year, 2022. Consequently, skyrocketing global military expenses are propelling the air and missile defense radar market.

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Which Segment Currently Holds the Largest Share of 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

Which Major Trends Are Shaping the Future of the Air And Missile Defense Radar Industry?
The emergence of technological innovation in the air and missile defense radar markets is a noteworthy trend gaining traction. Leading firms in this sector are striving to maintain their market position by developing novel technologies such as networked radar systems. These systems are linked together as well as other defense mechanisms, facilitating better sharing of information and coordination between various systems, hence enhancing situational awareness and fortifying defense. For instance, ELTA Systems Ltd., an Israeli defense product and service company with a specialty in radar, unveiled the ELM-2090 TERRA Strategic Early Warning System in February 2023. TERRA is a dual-radar system that possesses unparalleled detection and tracking abilities against long-range, low-RCS targets by utilizing both UHF and S-band radars. While each powerful system can function independent of the other, deploying them together elevates system performance to an even greater pinnacle.

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Which Key Players Dominate the Air And Missile Defense Radar Industry Globally?
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.

What Are the Fastest-Growing Regions in the Air And Missile Defense Radar Market?
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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