How Has the Military Radars Market Size Evolved in Recent Years?
The military radars market has seen considerable growth due to a variety of factors.
• In recent times, the market size for military radars has seen considerable growth. The market, which is expected to climb from $58.77 billion in 2024 to $62.75 billion in 2025, anticipates a compound annual growth rate (CAGR) of 6.8%.
The surge observed during the historical period can be credited to factors like national security and defense, advancements in technology, detection and tracking of threats, and electronic warfare (EW).
What Is The Forecast For The Military Radars Market Size?
The military radars market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of military radars is predicted to experience robust growth in the forthcoming years, with projections revealing a potential increase to $80.83 billion by 2029, accomplished with a compound annual growth rate (CAGR) of 6.5%.
The anticipated growth in the prediction interval can be associated with speedy technological enhancements, counter-UAs and counter-hypersonic abilities, incorporation of radar with C4ISR systems, and geopolitical unrest. Throughout this forecast period, dominant trends encompass stealth and low visibility detection, digital signal processing (DSP), C4ISR integration, and environmentally friendly radar technology.
What Are The Essential Drivers Behind The Growth Of The Military Radars Market?
The military radar market has seen significant growth due, in part, to increased defense spending from emerging economies. This spending encompasses areas such as operations, maintenance, weapon and armored vehicle procurement, as well as research and development in military sectors. For example, the Stockholm International Peace Research Institute (SIPRI), a research organization based in Sweden focusing on arms control, arms transfer and non-proliferation issues, reported in April 2022 that Russia had increased its military spending by an estimated 9.2% to around $86.4 billion in 2022. This increase accounted for 4.1% of Russia's GDP, a growth from the previous 3.7% in 2021. This increase in the defense expenditure by emerging economies has been a significant factor for the expansion of the military radar market.
How Is The Global Military Radars Market Divided Into Key Segments?
The military radars market covered in this report is segmented –
1) By Type: Land Radar, Naval Radar, Airborne Radar, Space-Based Radar
2) By Functionality: Surveillance And Airborne Early Warning Radar, Tracking And Fire Control Radar, Multi-Function Radar, Synthetic Aperture And Moving Target Indicator Radar, Ground Penetrating Radar
3) By Application: Weapon Guidance, Airspace Monitoring And Traffic Management, Ground Surveillance And Intruder Detection, Air And Missile Defense, Navigation, Airborne Mapping, Ground Force Protection And Counter-Battery, Mine-Detection And Underground Mapping
Subsegments:
1) By Land Radar: Ground Surveillance Radar, Border Surveillance Radar, Tactical Surveillance Radar
2) By Naval Radar: Surface Search Radar, Fire Control Radar, Navigation Radar
3) By Air Surveillance Radar: Fighter Aircraft Radar, Surveillance Aircraft Radar, Early Warning Radar, Maritime Patrol Radar
4) By Space-Based Radar: Synthetic Aperture Radar (SAR), Early Warning Radar, Surveillance Radar
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What New Trends Are Influencing The Military Radars Market?
Innovations in products are driving progression in the military radar market. The concentration of leading companies in this sector is on developing highly innovative, advanced products to deliver dependable services to their clients. For instance, Fortem Technologies Inc., an American company specializing in the detection and removal of harmful drones, introduced the TrueView R40 in November 2023. This product, using AI technology, was created to secure the airspace, avoid erroneous alerts, and sift through data. Its unique capability to identify drones at low elevations distinguishes it as a path-breaking solution. Furthermore, the AI intelligence of the R40 filters out irrelevant data or background interference, ensuring reliable and accurate drone identification.
Who Are the Key Players In The Military Radars Market?
Major companies operating in the military radars market include:
• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• Thales Group
• BAE Systems plc
• Israel Aerospace Industries
• Leonardo
• Saab AB
• Aselsan A.S.
• Hensoldt AG
• Airbus SE
• General Dynamics Corp
• Northrop Grumman
• Honeywell International Inc.
• L3Harris Technologies Inc.
• Terma A/S
• QinetiQ Group PLC
• Reutech Radar Systems
• Easat Radar Systems Limited
• Indra Sistemas S.A.
• Bharat Electronics Limited
• ZTE Corporation
• Elbit Systems Ltd.
• Wartsila Corporation
• Mitsubishi Electric Corporation
• Safran Electronics & Defense
• Selex ES Inc.
What Are The Regional Insights Into The Military Radars Market?
North America was the largest region in the military radar market in 2023. North America is expected to be the fastest-growing region in the military radars market during the forecast period. The regions covered in the military radars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
