Dublin, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The "Military Radar System Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the global Military Radar System market is forecast to surpass US$13.1 billion in 2024, with strong revenue growth predicted through to 2034.
Technological Advancements in Radar Systems Are a Significant Driving Force
Technological advancements in radar systems are a significant driving force in the global military radar system market. Continuous research and development efforts lead to the creation of more sophisticated, accurate, and versatile radar systems. For instance, the development of Active Electronically Scanned Array (AESA) radars allows for quicker and more precise target tracking, enhancing military capabilities. Additionally, advancements in signal processing, integration of Artificial Intelligence, and machine learning algorithms empower radar systems to distinguish between threats and non-threats, thereby increasing situational awareness for military operations.
Unavailability of Radar Solution to Counter Drones to Hamper Growth
One of the significant challenges facing the military radar system market is the limited availability of effective solutions to counter the evolving threat posed by drones. As drones continue to gain popularity for various applications, including military use, the demand for advanced radar systems capable of detecting and mitigating drone threats is on the rise. However, the market is struggling to keep pace with this demand. The development of radar technology tailored to detect and track drones, especially small and agile ones, remains a complex and ongoing process. This unavailability of comprehensive radar solutions to effectively counter drones can hamper the market's growth potential, as military entities may seek alternative technologies or strategies to address this emerging threat.
Market Dynamics
Market Driving Factors
- Increasing Investment in National Defence Driving the Market Growth
- Increasing Procurement of Advanced Defence Systems Driving the Market Growth
- Rapid Technological Developments Driving the Market Growth
Market Restraining Factors
- Unavailability of Radar Solution to Counter Drones to Hamper Growth
- Highly Vulnerable to Economic Conditions
- The Initial Cost of Radar Systems is Relatively High
Market Opportunities
- Rising Security Concerns Around the Border
- Space-Based Radar Systems are Used for Intelligence Gathering, Disaster Management, and National Security
- Rising Geopolitical Tension to Ramp Up Demand
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, this new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising military radar system prices and recent developments.
Segments Covered in the Report
Market Segment by Component Type
- Active Components
- Passive Components
Market Segment by Range
- Short-Range Radar
- Medium-Range Radar
- Long-Range Radar
Market Segment by Platform
- Land-Based Radar
- Airborne Radar
- Naval Radar
- Space-Based Radar
Market Segment by Technology
- Pulse-Doppler Radar
- Synthetic Aperture Radar (SAR)
- Continuous Wave (CW) Radar
- Passive Radar
- Other Technology
Market Segment by Frequency Band
- X-Band Radar
- S-Band Radar
- L-Band Radar
- C-Band Radar
- Ku-Band Radar
- Other Frequency Band
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
Leading companies and the potential for market growth
- Aselsan
- Bharat Electronics Limited
- Curtiss-Wright Corporation
- Denel SOC Ltd
- Elbit Systems Ltd
- Hensoldt AG
- Israel Aerospace Industries Ltd
- L3Harris Technologies Inc.
- Leonardo S.p.A
- Lockheed Martin Corporation
- NEC Corporation
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Saab AB
- Thales Group
In summary, the 450+ page report provides you with the following knowledge:
- Revenue forecasts to 2034 for Military Radar System Market, 2024 to 2034 Market, with forecasts for component type, range, platform, technology, frequency band, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Military Radar System Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Russia, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Military Radar System Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/1s59fw
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