Military Radars Global Market To Reach Value Of About $58 Billion In 2025

24 Sep, 2021

The military radars market consists of sales of military radars by entities (organizations, sole traders and partnerships) that manufacture military radars. A military radar is a detection system used to detect presence, direction, distance, and speed of the air, ground and sea targets. Only goods and services traded between entities or sold to end consumers are included.

Global Military Radars Market Size And Drivers:

The global military radars market is expected to grow from $48.84 billion in 2020 to $49.68 billion in 2021 at a compound annual growth rate (CAGR) of 1.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $57.91 billion in 2025 at a CAGR of 3.9%. Growth in defense spending by emerging economies contributed to the growth of the military radars market.

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Trends In The Global Military Radars Market

High costs of radar are expected to restrict the growth of the market for military radar in the forecast period. Fire control systems, command and control system, missiles, and anti-aircraft systems are some of the systems which are to be integrated with military radars and maintenance of these systems are also expensive. These high costs are due to the involvement of significant Research and Development and modifications in the radar systems. In March 2019, U.S. Navy has given $402 million to Raytheon for the modification of SPY-6 radars to exercise options of the Air and Missile Defence Radar Program (AMDR) and low-rate initial production (LRIP). High maintenance and modifications costs are thus limiting the growth of military radar systems.

Global Military Radars Market Segments:
The global military radars market is further segmented –
By Type: Land Radar, Naval Radar, Airborne Radar, Space-Based Radar
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
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
By Geography: The global military radars market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Military Radars Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides military radars market overviews, analyzes and forecasts market size and growth for the global military radars market, military radars market share, military radars market players, military radars market segments and geographies, military radars market’s leading competitors’ revenues, profiles and market shares. The military radars market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.