14 July 2020
Visiongain’s recently published report, Military Radar System Market Report 2020-2030, evaluates the current amount of expenditure on military radar systems by the governments worldwide. The growth of the military radar systems market is characterized by the rising territorial conflicts and geopolitical instabilities in regions. This report analyses leading national markets in the military radar systems market covering key topics such as current geopolitical developments, ongoing military modernisation programs of military radar systems, and teaming agreements as well as partnerships in the field of military radar systems market. Comprehensive national market coverage is also reinforced by information on recent military radar system contracts and launches, as well as company profiles of 10 leading companies that are either well established in the market, or have the potential to increase their market share in the future, and other 12 significant companies that either fill important niche markets, have a sizeable growth potential during the forecast period, or are otherwise highly relevant to the market.
Global military radar systems market is expected to grow at a CAGR of xyz% to reach at a market value of USD xyz billion by 2030. The global market for military radar systems is majorly dominated by North America and Asia-Pacific, which is attributed to the high defence spending of the countries falling in these two regions. North America held a market share of approximately xyz% in 2020. Asia Pacific is expected to hold a share of approximately xyz% by the end of the forecast period, while Europe is expected to hold xyz% of the market in 2030. North America will continue becoming the market leader by the 2030. Increased defence spending by countries such as United States coupled with ongoing military modernization programs will propel the growth of the market throughout the forecast period.
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Surveillance & Airborne Early Warning Segment May Register the Highest CAGR During the Forecast Period
Over the years, the number of aerial attacks, globally, has increased, leading to significant investments in airborne radars. The increasing use of stealth aircraft and tactical UAVs is likely to support the growth of this segment during the forecast period. The cost-effectiveness and ease of operations of unmanned platforms, when compared to manned platforms, have aided the rapid adoption of these unmanned systems in defence applications (for both surveillance and attack operations). Unmanned platforms are largely being deployed by military organizations in conflict regions across the world. Additionally, the Tethered Aerostat Radar Systems are being used as a low-level airborne ground surveillance system in few countries. Such large-scale investments in R&D and the procurement of unmanned systems may continue to drive the military airborne radar market.
Large Investments in Military Radars Are Expected from the Asia-Pacific Countries
The United States and Israel are the two key countries in terms of both production and operation of unmanned platforms and associated components. Currently, several countries in the Middle East and Asia (China, India, Iran, and Pakistan) are spending on the indigenous development of UAVs and associated components for military applications. As of 2019, North America held the major share in the military radars market. However, rising political tensions in Asia and the Middle East may result in countries based in these regions procuring and modernizing their existing radar capabilities in the next few years. China, India, and Saudi Arabia are likely to generate the highest demand for military radars in the next few years.
What makes this report unique?
Our reports have a unique blend of primary and secondary sources providing informed analysis. This methodology allows insight into the key drivers and restraints behind market dynamics and competitive developments, as well as identifying the technological issues. The report, therefore, presents an ideal balance of qualitative analysis combined with extensive quantitative data including global, submarket and national military radar systems markets forecasts from 2020-2030 – all of which identify strategic business opportunities.
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