Wilmington, Delaware, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Military Radar Market by Component (Antenna, Transmitter, Receiver, Duplexer, Others), by Range (Short, Medium, Long), by Frequency (C-Band, S-Band, X-Band, Others), by Application (Airspace Monitoring and Traffic Management, Space Situation Awareness, Maritime Patrolling, Weapon Guidance, Others), by Platform (Airborne, Land, Naval): Global Opportunity Analysis and Industry Forecast, 2021-2031" As per the report, the global market size for military radar is expected to grab $25.1 billion by 2031. The market was valued at $13.9 billion in 2021 and is anticipated to witness the fastest growth with 6.5% CAGR during the forecast timeframe of 2022 to 2031. The report provides in-depth information on the competitive landscape, value chain analysis, top segments, dynamic market trends, key investment areas, and regional analysis.
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The antenna segment to hold the largest market share throughout the forecast timeframe
By component, the antenna segment gained the largest market share of more than two-fifths of the total market revenue in 2021 and is projected to rule the roost during the forecast period. The defense industry is in a constant state of evolution, necessitating next-generation defense systems for armed forces. Presently, defense forces utilize active phased array antennas, providing comprehensive surveillance coverage of a given area. This heightened capability has sparked an increasing global demand for such antennas in military radar systems. The duplexer segment, however, is estimated to display accelerated growth with 10.2% CAGR from 2022 to 2031. the surge in need for duplexers in military electronic gadgets for ground-based, underwater, and airborne communications as they provide bi-directional communication.
Key Report Highlights:
- The analysis of the military RADAR market spans seven countries, providing both country-specific and segment-specific evaluations with values ($billion) projected for the period 2021-2031.
- Utilizing a research approach that integrates high-quality data, professional insights, and independent perspectives, this study aims to provide a holistic understanding of regional markets. Stakeholders can use this information to make well-informed decisions aligned with their growth objectives.
- In ensuring comprehensive insights, the research extensively examined over 3,700 pieces of product literature, annual reports, industry statements, and comparable materials from major industry participants. This meticulous review contributes to an enhanced understanding of market dynamics.
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The short-range segment to lead the trail during the forecast period
On the basis of range, the short-range segment accounted for the highest market share of nearly half of the global market revenue in 2021 and is projected to retain its dominance throughout the forecast timeframe. This is because governments across the globe are investing largely in short-range systems for capturing things clearer and better connectivity in upcoming space missions and communications. In response to this trend, prominent companies are developing innovative short-range radar technologies that facilitate a 360-degree surround-view, specifically designed for military and naval applications. The long-range segment, on the other hand, would showcase the fastest CAGR of 7.9% during the forecast period of 2022 to 2031. The growth is attributed to off-site long-range radar machinery, electronic defense systems, and high-end defense applications.
North America to grab the largest market share by 2031
The regional analysis in the report indicates that the market across North America gained the highest market share in 2021, contributing to nearly half of the global military RADAR market and would retain its dominant status during the forecast period. The region's significant imposition of defense-related sanctions has amplified the need for military radars, both within national boundaries and across international defense forces. The United States stands as one of the most robust military powers globally and serves as a pivotal contributor of military radar systems to the worldwide market. Additionally, it hosts a substantial array of manufacturing companies operating on a global scale. On the other hand, the Asia-Pacific region would display a notable CAGR of 8.1% from 2022 to 2031, owing to growing expenditure on defense products by several countries like India, China, and Japan.
Key market players:
- Raytheon Technologies Corporation
- Northrop Grumman Corporation
- L3Harris Technologies, Inc.
- Thales Group
- Saab AB
- Lockheed Martin Corporation
- Leonardo S.P.A.
- Israel Aerospace Industries
- BAE Systems plc
- Aselsan A.S.
The report assesses the prominent participants in the global military radar market. These entities have employed diverse tactics, including expansion endeavors, introductions of new products, collaborations, among others, aiming to bolster their market penetration and enhance their standing within the industry. This report serves as a valuable tool for evaluating the business performance, operational segments, product portfolios, and advancements pursued by each market player.
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Regional /Country Specific Research Reports We Have:
U.S. Military Radar Market Research Report 2023-2032
North America Military RADAR Market Research Report 2023-2032
Asia-Pacific Military RADAR Market Research Report 2023-2032
Europe Military RADAR Market Research Report 2023-2032
LAMEA Military RADAR Market Research Report 2023-2032
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