Military Radar Systems Market: Key Players, Strategies, and Competitive Landscape
Military Radar Systems Market Outlook
Military Radar Systems Market Size is Anticipate to reach USD 27.3 Billion by 2032 and registering a CAGR of 7.20% By 2024-2032
The surveillance and airborne early warning radar improve surveillance capabilities by detecting cars, ships, and aircraft at long ranges. Furthermore, with the use of 4D military radar systems, army soldiers are enjoying better surveillance capabilities and improved targets with high-definition photographs of targets.
Military radar systems market expansion is fueled by rising regional instability and increased purchase of radar and air defense systems. In the projection term, increased innovations in solid-state electronics are propelling market share and presenting the important potential for key competitors. On the other hand, the development cost may stifle global market expansion.
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Segmental Analysis
The market has been categorized by component into the transmitter, duplexer, receiver, antenna, display, stabilization system, and digital signal processor. By frequency band, the market has been segmented into S-band, Ku/Ka/K bands, L, C, VHF/UHF, and X. By platform, the military radar systems market has been segmented into space-based, naval, airborne, and land. The military radar systems market has been categorized into 2D, 4D, and 3D by dimension. By type, the military radar systems market has been classified into track & fire control radar, weapon locating radar & C-RAM, synthetic aperture & moving target indicator multi-function, surveillance & airborne early warning radar, weather radar, and ground-penetrating radar. The market has been segregated into long, short, and medium by range.
Detailed Regional Analysis
Asia-Pacific, Latin America, North America, Europe, the Middle East, and Africa make up the market. The North American regional market accounts for a substantial portion of the industry. However, in the evaluation period of 2028, the Asia-Pacific regional market is expected to grow at the fastest rate. Due to several causes such as escalating territorial conflicts, rising military equipment procurement, and rising defense expenditure by growing economies such as India and China.
Competitive Analysis
The new growth endeavors are expected to boost the company's future goal attainment trend and are thus regarded as critical to its expansion. Businesses in the market are expected to incorporate social impact aims shortly, ushering in a new planning phase in the industry. In the coming years, digital aspects of business operations are expected to become more prominent. During the projection timeframe, the market is expected to gain a lot from market signals while also examining its customer base to suit their wants better. In the next year, the increase in business interests is expected to put market competitors in a better position during the forecast period. Because of the government's involvement in re-energizing the international market, the different regional markets will continue to grow steadily. The market's players are anticipated to seek supply chain revisions to encourage the market's expansion into new sectors and demographics. The global market's reaction to increased efficiency levels is projected to unleash fresh and dramatic transformations in the approaching future.
The essential companies in the military radar market are Northrop Grumman Corporation (US), ASELSAN AŞ (Turkey), Leonardo SpA (Italy), Thales Group (France), Raytheon Company (US), L3Harris Technologies, Inc. (US), Lockheed Martin Corporation (US), BAE Systems PLC (UK), Israel Aerospace Industries (Israel), TERMA (Denmark), SAAB AB (Sweden), and HENSOLDT (Germany).
News
Apr 2022 A contract for full-rate production of AN/TPQ-53 radar systems was recently signed by Lockheed Martin Corporation LMT. The US Army Contracting Command gave the contract in Aberdeen, Maryland. The contract, worth $3.27 billion, is slated to be completed by March 30, 2027. The contract calls for the full-rate manufacturing of AN/TPQ-53 radar systems, associated spare parts and services, and their deployment to various Foreign Military Sales countries. This deal's work will be determined on a case-by-case basis.
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