The global military radars market size was US$ 14.9 billion in 2021. The global military radars market size is forecast to reach US$ 22.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030.
The radio detection and ranging system are known as radar. A military radar system detects objects using radio waves to estimate their angle, range, and velocity. Defense forces use radars for many purposes, including monitoring, locating, and tracking targets (aircraft, missiles, unmanned aerial vehicles, naval vessels, and military land vehicles), directing other weapons, and countering incoming threats. Military radars can also identify and classify crawling infantry, groups of strolling men, and low-flying helicopters, among other targets. Military radars help as weather radars and navigational aids.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global military radar market. Several governments worldwide imposed lockdown in order to prevent the spread of the COVID-19 virus. As a result, this hampered the research & development of the military radar companies worldwide. As governments expending shifts toward economic recovery due to the COVID-19 pandemic, industries faced a decline in the number of orders for military radars. In addition, this affected the manufacturing rate of military drone-making companies.
Region's Insights
North America held dominant in the military radar market in 2021. As a result of the defense expenditure from the U.S. and the acquisition of advanced military radars. In addition, rising programs and initiatives such as the Three-Dimensional Expeditionary Long-Range Radar and the Air and Missile Defense Radar are forecast to boost the market growth in the region.
The Asia Pacific region is forecast to have lucrative growth in the market during the forecast period. The rising defense spending owing to increasing cross-border problems & geopolitical uncertainties in countries such as China-India, and India-Pakistan, has led to the surge in demand for advanced threat detection systems in the region. Thus, this factor is forecast to drive market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global military radar market are:
Scope of the Report
The global military radar market segmentation focuses on Platform, Component, End-Users, Technology, Product Type, Frequency Band, Range Band, Application, and Region.
Segmentation based on Platform
Segmentation based on Component
Segmentation based on End-Users
Segmentation based on Technology
Segmentation based on Product Type
Segmentation based on Frequency Band
Segmentation based on Range Band
Segmentation based on Application
Segmentation based on Region