Pune, India, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The global Air and Missile Defense Radar Market size was valued at USD 6.62 billion in 2021 and is projected to grow from USD 7.04 billion in 2023 to USD 10.99 billion by 2029, exhibiting a 6.57% CAGR during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Air and Missile Defense Radar Market, 2023-2029.”
Air and missile defense radar market refers to the global industry involved in the development, production, and deployment of radar systems specifically designed to detect, track, and intercept airborne threats such as missiles, aircraft, drones, and other projectiles. These radar systems play a crucial role in military and defense strategies by providing early warning and targeting capabilities to counter incoming threats.
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List of Key Players Mentioned in the Air and Missile Defense Radar Market Report:
- Hensoldt AG (Germany)
- Israel Aerospace Industries Ltd. (Israel)
- Leonardo S.P.A. (Italy)
- Lockheed Martin Corporation (U.S.)
- Northrop Grumman Corporation (U.S.)
- Raytheon Technologies Corporation (U.S.)
- Rheinmetall AG (Germany)
- SAAB AB (Sweden)
- Terma A.S. (Denmark
- Thales Group (France)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2029 |
| Forecast CAGR | 6.57% |
| 2029 Value Projection | USD 10.99 billion |
| Market Size in 2023 | USD 7.04 billion |
| Historical Data | 2018-2020 |
| No. of Pages | 213 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Air and Missile Defense Radar Market Growth Drivers | Developments in Hypersonic Missiles will Pave the Way for Advanced Air and Missile Defense Radars |
| Increasing Cross-border Tensions and Rising Defense Budget for Air and Missile Defense Radars to Catalyze the Growth of Market |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/air-and-missile-defense-radar-market-102522
Factors that can influence this Air and Missile Defense Radar market include:
Threat Environment: Growing missile proliferation and the development of advanced missile technology by various nations can drive the demand for more sophisticated air and missile defense radar systems.
Defense Budgets: Allocation of defense budgets by governments around the world affects the level of investment in advanced radar technologies.
Technological Advancements: Research and development efforts aimed at enhancing radar capabilities, including better target detection, tracking accuracy, and resistance to electronic countermeasures, contribute to the evolution of the market.
Geopolitical Tensions: Heightened regional tensions or conflicts can lead to increased demand for air and missile defense systems.
Export Opportunities: Some countries are active exporters of defense technologies, including radar systems, leading to global market competition.
International Collaborations: Collaborative projects between countries can impact the market as well, with joint development efforts leading to shared capabilities.
Segments:
Ground-based Air and Missile Defense Radars to be Fastest Growing due to Higher Demand
By platform, the market is divided into airborne, land, and naval. In 2021, the naval radar segment dominated the market by having the largest share.
Rising Demand for Long Range Radars Will Boost Growth of S-band Radars
Based on radar type, the market is divided into X band radars and S band radars. The S band segment is expected to be the fastest growing in the forecast period due to technological advantage over X-band radars.
Ballistic Missile Defense to be the Fastest Growing during Forecast Years due to Rising Ballistics Missiles Threats
Based on application, the market is divided into conventional and ballistic missile defense. The ballistic missile defense segment is projected to grow at the highest CAGR over the period of 2022-2029.
The global market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Report Coverage:
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective.
Drivers and Restraints:
Developments in Hypersonic Missiles will Pave the Way for Advanced Air and Missile Defense Radars
The recent development of hypersonic missiles by the U.S., China, and Russia has created significant difficulties for the early identification of such fast-moving objects. Australia, Germany, France, India, Japan, and other nations have also contributed to the development of hypersonic missiles.
Higher operational efficiency, platform compatibility, user-oriented advanced systems, and a wide frequency band are all requirements for radar systems. Radars must occasionally operate in challenging environmental conditions, which can cause internal parts to fail.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions, and Partnerships
- Latest Trends
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of Covid-19 Impact on Air and Missile Defense Radar Market
- Impact of Covid-19 on Air and Missile Defense Radar Market
- Impact of Russia Ukraine War on Air and Missile Defense Radar Market
- Potential Opportunities due to Russia Ukraine War Impact
- Air and Missile Defense Radar Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Platform
- Airborne
- Land
- Naval
- Market Analysis, Insights and Forecast – By Radar Type
- X Band Radars
- S Band Radars
- Market Analysis, Insights and Forecast – By Application
- Conventional
- Ballistic Missile Defense
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Air and Missile Defense Radar Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Platform
- Airborne
- Land
- Naval
- Market Analysis, Insights and Forecast – By Radar Type
- X Band Radars
- S Band Radars
- Market Analysis, Insights and Forecast – By Application
- Conventional
- Ballistic Missile Defense
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Market Analysis, Insights and Forecast – By Platform
- Airborne
- Land
- Naval
- Market Analysis, Insights and Forecast – By Platform
- Canada
- Market Analysis, Insights and Forecast – By Platform
- Airborne
- Land
- Naval
- Market Analysis, Insights and Forecast – By Platform
- U.S.
- Market Analysis, Insights and Forecast – By Platform
TOC Continued…!
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Regional Insights:
North America to Lead Backed by Demand for Land-based Radars
North America held the largest Air and Missile Defense Radar Market share. North America is expected to experience the fastest growth in the region for land-based radars.
Due to rising defense spending by China, India, and Japan, the Asia Pacific market is anticipated to develop at the quickest rate.
The European market, which was predicted to be the second largest in 2021, is anticipated to expand significantly as a result of rising radar purchases made as a preventative measure against a possible war between Russia and Ukraine.
Competitive Landscape:
Acquisitions Initiated by Key Companies to Promote Market Growth
The leading players in the market constantly opt for efficient strategies to bolster their brand value as well as promote the global Air and Missile Defense Radar Market growth. One such efficient strategy is acquiring competitive companies and further securing a profit for both the companies.
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Key Industry Development:
May 2022: For the purpose of locating and monitoring weapons close to the China-India border, India claimed to have purchased 12 Swathi radars. Within a 50-kilometer range, Swathi can track shells, mortars, and rockets.
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