Airborne Fire Control Radar Market Anticipated to Expand $4.4 Billion With a CAGR of 6.2% by 2030

According to the report, the global airborne fire control radar industry generated $2.5 billion in 2020, and is anticipated to generate $4.4 billion by 2030, witnessing a CAGR of 6.2% from 2021 to 2030.

Prime determinants of growth

Growth in usage of active electronically scanning array (AESA) technology, rise in accession of fighter jets to improve aerial strength, and surge in military expenditure in numerous countries drive the growth of the global airborne fire control radar market. However, high maintenance cost hinders the market growth. On the other hand, technological advancements and upsurge in demand from emerging economies to address territorial conflicts present new opportunities in the coming years.

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Active Electronically Scanned Array (AESA) technology in aircrafts has gained momentum as several airborne fire control radar manufacturing companies are focused on integrating AESA technology based radar in military jets and aircrafts. It offers high precision and efficiency as compared to generic radar systems. AESA-based system antennas comprise a large number of transmit/receive modules and each of the module acts as an individual radar. The AESA-based airborne fire control radar has the ability to operate in different frequency bands, thus enhancing tracking of the targets.

The significant factors that impact the growth of the airborne fire control radar market comprises growth in usage of active electronically scanning array (AESA) technology rise in accession of fighter jets to improve aerial strength, and surge in military expenditure in numerous countries. Moreover, factors such as high maintenance cost are expected to hamper the market growth. Futhermore, technological advancements and upsurge in demand from emerging economies to address territorial conflicts are expected to create new growth opportunities for airborne fire control radar market during the forecast period.

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COVID-19 Impact Analysis

The COVID-19 crisis has created uncertainty in the market, massive slow down of supply chain, falling business confidence, and increased panic among the customer segments. Governments of different regions have announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales.

The impact of the COVID-19 pandemic has resulted in supply-chain disruptions causing order cancellation of new aircrafts. Moreover, few aircraft manufacturers faced halts in production of aircrafts. For instance, in 2020, Rafale fighter jets production was temporary suspended in France due to coronavirus outbreak. The impact of the COVID-19 pandemic resulted in delayed development of airborne fire control radars, restrictions in operation of key players, cancellation of contracts, and shortage of components. Shortage of components, subsystems, and electronic systems, owing to regulations associated with import and export of goods have also resulted in delayed manufacturing. Revenue crunch and increased maintenance costs were some of the major factors affecting manufacturers during the pandemic. Moreover, dramatic drop in GDP of prominent economies such as the U.S., the UK, China, France, India, and Germany in 2020 also led to decline in investments toward the defense industry.

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North America, to maintain its dominance by 2030

Based on region, North America, held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global airborne fire control radar market, owing to high adoption of technology, large number of market players, and high military spending. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.7% during the forecast period. Growth in security concerns, rising territorial conflicts, and increase in R&D activities supports the growth of this region.

Leading Market Players

Bharat Electronics Limited
Hensoldt AG
Israel Aerospace Industries
Leonardo S.p.A.
Lockheed Martin Corporation
BAE Systems Plc
Northrop Grumman Corporation
Raytheon Technologies Corporation
Saab AB
Thales Group

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