Military Radars Market Worth $17.1 billion by 2027 - Exclusive Report by MarketsandMarkets™

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Oct 31, 2022, 09:30 ET

CHICAGO, Oct. 31, 2022 /PRNewswire/ -- Military radars market is projected to grow from USD 13.5 billion in 2022 to USD 17.1 billion by 2027, at a CAGR of 4.7% during the forecast period according to a new report by MarketsandMarkets™. The components of a military radar are a transmitter, a receiver, and a sending radio wire. The reach, speed, and height of objects are determined by these sensors using electromagnetic waves. In order to provide more information to military clients that require the best capacity in small, efficient packages, modern radar systems now feature advanced materials, strong state modules, computerized signal processors, and complicated A-D converters. Modern fighting vehicles, aircraft, and marine transport vessels all incorporate military radar systems into crucial ways. It is expected that initiatives and programs like the Three-Dimensional Expeditionary Long-Range Radar (3DELRR) program and the Air and Missile Defense Radar (AMDR) program will spur growth in the regional market.

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Based on the application, the air & missile defense segment is expected to lead the military radars market share during the forecast period.

The demand for early warning threat detection systems, ongoing mine detection systems, and equipment by the US military to address conflicts in the Middle East and Asia Pacific will propel the market for air & missile defense radars, globally. These factors will also contribute to the growth of the air & missile defense radars market.

Under Platform segment, Naval subsegment is estimated to be the largest and fastest-growing market

According to forecasts, the military radars markets largest and fastest-growing category is the naval platform. Increased effectiveness and greater precision of ship-based naval radar systems are what are driving this segments rise. The development of ship-based naval radars is being driven by the need for efficient weapon guidance systems for military ships. The development of ship-based radar systems is receiving increasing funding from Asian nations, which is further accelerating the sectors expansion. The market for naval radars will be driven by nations like China, Japan, and South Korea, which account for more than half of all shipbuilding activities worldwide.

Based on the product type, the surveillance and early airborne warning radar segment is expected to lead the military radars market share during the forecast period.

According to forecasts, the market share of the surveillance and early airborne warning radar category is the highest. Additional factors anticipated to propel the market for surveillance and early airborne warning radars during the forecast period include ongoing military modernization, the replacement of outdated radars, the introduction of digital signal processing, and solid-state modules. Early airborne warning radar systems are in greater demand as a result of meticulously formed fighters being created by a number of major manufacturers in developed nations, which significantly reduces the detection range of these systems.

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Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Israel Aerospace Industries (Israel), Thales Group (France), and Leonardo S.P.A. (Italy) are some of the leading players operating in the military radars market.

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Browse Adjacent Market: Aerospace and Defence Market Research Reports &Consulting

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