{Latest Report 2023} Global Military Radar Market Rising Growth, Demands, Latest Trend, New Technology, Strategies and Forecast 2030

The Global Military Radar Market is projected to grow from USD 14.17 billion in 2021 to USD 25.75 billion by 2030 at a CAGR of 4.50% during the forecast period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

The global military radar market is experiencing increasing growth due to several factors, such as rising geopolitical tensions, modernization of defense systems, and advancements in radar technology. The demand for military radar systems has surged in recent years, driven by the need for advanced surveillance and intelligence capabilities in modern warfare.

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Latest Trends in Military Radar Market: AI Integration and Miniaturization:

The latest trend in the military radar market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. This integration allows radar systems to analyze and process large amounts of data quickly and accurately, improving situational awareness and threat detection capabilities. Additionally, the development of miniaturized radar systems is also gaining popularity as they offer greater portability and flexibility for military operations. These trends are expected to drive the growth of the military radar market in the coming years.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐩𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐫𝐞𝐯𝐢𝐞𝐰𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Leonardo S.p.A.
• Israel Aerospace Industries
• Raytheon Technologies Corporation
• Airbus
• BAE Systems
• General Dynamics Corporation
• Honeywell International
• Saab AB
• Thales Group

KEY INDUSTRY DEVELOPMENTS: 

• March 2021- A contract for the purchase of radar systems for USD 175 million was signed by the defense ministers of Slovakia and Israel. According to the agreements, Israel will provide the Slovak Air Force with seventeen highly advanced radar systems built by Israel Aerospace Industries (IAI).

Global Military Radar Market Segmentation:

By Component

• Digital Signal Processor
• Transmitter
• Receiver
• Others

By Platform

• Space-Based Radar
• Naval Radar
• Land Radar

By Range

• Very Long (> 500 km)
• Long (200-500 km)
• Medium (50-200 km)
• Short (10-50 Km)
• Very Short (< 10 Km)

By Application

• Airspace Monitoring & Traffic Management
• Weapon Guidance
• Airborne Mapping
• Navigation
• Ground Surveillance & Intruder Detection
• Others

Advancements in Radar Technologies to Fuel Growth of Military Radar Market:

The growing investment in defense and military modernization programs by various countries is also driving the growth of the military radar market. For instance, the United States Department of Defense plans to invest heavily in the development of advanced radar systems and associated technologies in the coming years.

Strategies for Maintaining a Competitive Edge in the Military Radar Market:

The military radar market can employ several strategies to maintain a competitive edge, including technological innovation, partnerships and collaborations, geographical expansion, and acquisitions. Developing advanced radar systems that can detect and track objects at longer ranges, operate in challenging environments, and offer multi-mode capabilities can help companies stand out. Collaborating with other defense companies or government agencies to create joint ventures and develop new technologies can also lead to success.

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By Region:

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa   

Geographical expansion into new regions with high demand for radar systems can help generate more sales, while strategic acquisitions can enable companies to expand their product portfolios and customer bases.

North America is expected to dominate the market, driven by the high adoption rate of advanced military radar systems, technological advancements, and increased defense spending. The United States is the largest market in the region, and its defense budget is expected to remain high, driving growth in the military radar market.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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