Military Radar market was valued at $10.85 million in 2016 and is projected to reach $14.09 billion by 2024, having a CAGR of 3.4 % during the forecast period of 2017 to 2024.the airborne radar segment generated the highest revenue share in the global military radar market.

 

Radio detection and ranging also called as (RADAR) is a detection and surveillance system which uses radio waves to detect objects. It is a detection system that is used to determine the range, angle, and velocity of objects.  RADAR can be used to detect aircraft, ships, spacecraft, guided missiles, motor vehicles, weather formations, and other entities. A radar system consists of a transmitter which produces radio waves, a transmitting antenna, a receiving antenna, and a receiver and processor to determine properties of the object which is being detected. Radio waves from the transmitter reflect off the object and return to the receiver, giving the exact information about the object's location and speed.  Radar systems are capable enough to find any stationary or moving object and determine their shape, distance, angle, velocity and other static and dynamic properties. Radars are fundamentally developed for military applications and are majorly used for surveillance and detection. Today, military radar systems can observe objects while based on the ground, ships and aircraft carriers, aircraft, and space stations. The intense growth of advanced electronics has amplified the capacity of radar systems, expanding its application area to air and terrestrial traffic control, radar astronomy, air-defense systems, antimissile systems, aircraft anti-collision systems, ocean surveillance system and outer space.

 

 Market Dynamics

 

Rapidly increasing security concerns and increasing defense budgets are stimulating the industry growth prospects. Enhancement in radar technology and increased focus on the border protection activities are some factors which are extensively driving the military radar industry. The rise in terrorism activities and inter-country conflicts are some factors which would lead the industry to witness immense growth.

 

However, the military radar market can get badly affected by the existing economic conditions. The outcomes of the economic slowdown can also inhibit the global military spending, driving down the industry growth opportunities. The countries, such as the UK, Germany, and Russia, have witnessed cuts in defense budgets owing to financial crises. Moreover, the high costs of military radars and the capital required for the research and development of space-based radar system might act as a restraining factor for the Military Radar Market. Opportunities such as the development of lightweight radars and use of an improvised electronic system in military radar systems can help the market to grow in the near future.

 

 Market Segmentation

 

The Military Radar Market is segmented by type and geography. On the basis of type, the market is categorized as Ground Based, Naval, Airborne, and Space based. By Geography, the market is segmented as North America, Europe, Asia-Pacific and Rest of World.

 

Some of the key market players are Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Saab Group, Thales Group, Airbus Group,  BAE Systems, General Dynamics, Israel Aerospace Industries Ltd, Finmeccanica SPA.

 

 

 

Global Military Radar Market Segmentation

By Type:

Ground Based

Naval

Airborne

Space Based

 

By Geography

 

North America

USA

Others

 

Europe

U.K

Russia

France

Italy

Germany

Other

 

Asia-Pacific

China

India

Australia

Japan

South Korea

Others

 

Rest of World

Israel

South Africa

Other

 

Key Market Players

Lockheed Martin Corporation

Northrop Grumman Corporation 

Raytheon Company

Saab Group

Thales Group

Airbus Group

BAE Systems

General Dynamics

Israel Aerospace Industries Ltd

Finmeccanica SPA

 

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