Global Military Radars Market Report 2023: Major Players Include Lockheed Martin, Raytheon Technologies, Thales, BAE Systems and Israel Aerospace Industries
DUBLIN, March 23, 2023 /PRNewswire/ — The “Military Radars Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global military radars market will grow from $57.91 billion in 2022 to $62.66 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The military radars market is expected to grow to $79.37 billion in 2027 at a CAGR of 6.1%.
Major players in the military radars market are Lockheed Martin, Raytheon Technologies, Thales Group, BAE Systems, Israel Aerospace Industries, Leonardo, SAAB, ASELSAN, HENSOLDT, Airbus, General Dynamics, Northrop Grumman, Finmeccanica, Honeywell International, Harris Corporation, L3Harris Technologies, and TERMA.
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The military radar market consists of sales of military radars such as simple pulse radar, moving-target indication (MTI) radar, high-range resolution radar, and imaging radars. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The military radar is a detection system used in military to detect the presence, direction, distance, and speed of air, ground, and sea targets. The military radar includes components such as transmitter, antenna, receiver, and indicator.
North America is the largest region in the military radars market in 2022. North America is expected to be the fastest growing region in the forecast period. The regions covered in military radars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of military radars are land radars, naval radars, airborne radars, and space-based radars. Naval radars are X-band or S-band radars installed on ships that detect other ships and land obstacles, providing bearing and distance for collision avoidance and navigation at sea.
The various functionality of military radar includes surveillance and airborne early warning radar, tracking, and fire control radar, multi-function radar, synthetic aperture and moving target indicator radar, a ground-penetrating radar that is used for weapon guidance, air and missile defense, navigation, airborne mapping, ground force protection and counter-battery, mine-detection, and underground mapping.
The military radar market covered in the military radar market report is segmented by type into land radar, naval radar, airborne radar, space-based radar, by functionality into surveillance and airborne early warning radar, tracking and fire control radar, multi-function radar, synthetic aperture, and moving target indicator radar, ground-penetrating radar, by application into weapon guidance, airspace monitoring, and traffic management, ground surveillance and intruder detection, air and missile defense, navigation, airborne mapping, ground force protection, and counter-battery, mine-detection and underground mapping.
Growth in defense spending by emerging economies has contributed to the growth of the military radar market. Military spending includes operation, maintenance, procurement of weapons and armored vehicles, and military research and development.
For instance, in April 2022, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute on arms control, arms transfers and non-proliferation, in 2021, total global military spending was expected to increase by 0.7% in real terms to $2113 billion.
This was the seventh year in a row that spending increased. Military R&D funding in the United States increased by 24% between 2012 and 2021, while China, the world’s second-largest spender, allocated an estimated $293 billion to its military in 2021, a 4.7% increase over 2020. China’s military spending has increased for the past 27 years. The growth in defense spending by emerging economies drove the military radar market.
The high cost of radar is expected to restrict the growth of the market for military radar in the forecast period. Fire control systems, command and control systems, missiles, and anti-aircraft systems are some of the systems that are to be integrated with military radars, and maintenance of these systems is also expensive. These high costs are due to the involvement of significant research and development and modifications in the radar systems.
For instance, in January 2021, according to an article published by Congressional Budget Office, a US-based government federal agency, according to the 2020 budget request, the cost of the DoD’s (Department of Defense) missile defense plans over a ten-year period will be approximately $176 billion (in current dollars) from 2020 to 2029. High maintenance and modification costs are thus limiting the growth of military radar systems.
The MIMO (multiple inputs, multiple outputs) system is increasingly being used in the military radar market. A MIMO radar system is used for simultaneous transmission and reception by multiple antennas or channels. They are also used to gain a low probability of intercepting radar properties.
For an undisclosed amount, SRC, a New York-based defense research and development company, acquired SAZE, a US-based company that works on research and development of radar. The acquisition is expected to bring new capabilities to the SRC’s extensive radar knowledge base. The SRC will focus on leveraging the SAZE’s technology to develop life-saving systems for the armed forces. SAZE was established in 2012 and is involved in the research and development of radars.
The countries covered in the military radars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Key Topics Covered:
1. Executive Summary
2. Military Radars Market Characteristics
3. Military Radars Market Trends And Strategies
4. Military Radars Market – Macro Economic Scenario
4.1 COVID-19 Impact On Military Radars Market
4.2 Ukraine-Russia War Impact On Military Radars Market
4.3 Impact Of High Inflation On Military Radars Market
5. Military Radars Market Size And Growth
5.1. Global Military Radars Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Military Radars Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Military Radars Market Segmentation
6.1. Global Military Radars Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Land Radar
- Naval Radar
- Airborne Radar
- Space-Based Radar
6.2. Global Military Radars Market, Segmentation By Functionality, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Surveillance And Airborne Early Warning Radar
- Tracking And Fire Control Radar
- Multi-Function Radar
- Synthetic Aperture And Moving Target Indicator Radar
- Ground Penetrating Radar
6.3. Global Military Radars Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Weapon Guidance
- Airspace Monitoring And Traffic Management
- Ground Surveillance And Intruder Detection
- Air And Missile Defense
- Navigation
- Airborne Mapping
- Ground Force Protection And Counter-Battery
- Mine-Detection And Underground Mapping
7. Military Radars Market Regional And Country Analysis
7.1. Global Military Radars Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Military Radars Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/urzplv
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