Global Military Radar Market Size to grow by US$ 25.75 Bn in 2030.
The Global Military Radar Market is projected to grow from USD 14.17 billion in 2021 to USD 25.75 billion by 2030 at a CAGR of 4.50% during the forecast period.
Radar is a crucial part of the global military's surveillance systems. Several nations are investing extensively in their surveillance systems to reduce dependency, identify incursions, and respond rapidly as a result of the escalating territorial disputes and threats from rivals.
Several nations have had to improve their radar capabilities due to the growing usage of UAVs, hypersonic missiles, stealth aircraft, and electronic warfare weapons. The demand for new military radars on a global scale is being driven by improvements in range, detection, identification, adaptability to new missions, and integration with other sensors. The ongoing necessity to keep an eye on the escalating terrorist activities along with geopolitical tensions can be linked to the increased defense spending by emerging countries in the Asia-Pacific and the Middle East. As a result, China launched a new portable and versatile radar in April 2021 that can spot drones, low-flying cruise missiles, and stealth aircraft. Also planned for flight by 2022 is the NASA-ISRO Synthetic Aperture Radar (NISAR) satellite.
Due to the COVID-19 pandemic, the worldwide aerospace and defense (A&D) manufacturing industry has been experiencing unprecedented upheaval. The defense industry is anticipated to remain steady and expand, nonetheless, as the majority of nations have not cut their defense spending and are still committed to maintaining their military prowess. Some of the most obvious consequences of the pandemic's influence on the defense industry are supply-side interruptions. Businesses in nations that have been severely hit by COVID-19 or those reliant on supply chains that are based in affected countries have been the pandemic's first casualties. Thus, some of the defense programs may experience temporary cost increases and delays as a result of the wider supply chain disruption.
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The producers are concentrating on creating and innovating more accurate radar systems. The market is moving in favor of using active electronically scanned array radars today. Without changing the hardware, these radars can be operated by software to alter and improve the targets. A new generation of AESA radars has been made possible by advances in solid-state technologies, such as Gallium Nitride. For instance, Comtech PST Corporation introduced a gallium nitride amplifier with the model number BPMC928109-1000 in January 2019 for X-band radar applications in maritime vessel traffic management, military tracking, and police vehicle speed detection, and air traffic control.
The multiple-input multiple-output (MIMO) radar consists of several digital receiver-equipped antennas that broadcast arbitrary waveforms. MIMO radars were created to be lighter, more powerful, smaller, and less expensive than traditional AESA (Active Electronically Scanned Array) radars. With its numerous broadcast and receive antennas that can function at various frequencies, these radars take use of a 3D range. For ground radar applications, it is projected that this new MIMO technology will perform better than the established active electronically phased array (AESA) systems. Compared to AESA, MIMO has a superior jamming resistance.
These worries have prompted a rise in defense spending and the purchase of military radars to identify potential threats, which is projected to propel the expansion of the military radar market. Moreover, it is projected that these systems will benefit from the transition from conventional warfare to electronic and cyber warfare.
The North America region is expected to dominate the market share owing to the biggest defense spending by the United States and the purchase of cutting-edge military radars that are to blame for the growth. The market is expected to increase as a result of efforts and programs like the Air and Missile Defense Radar and Three Dimensional Expeditionary Long-Range Radar. However, the Asia Pacific is expected to highest growth during the projection period. The demand for advanced threat detection systems is rising in the Asia-Pacific as a result of the region's developing cross-border problems and geopolitical tensions in nations like China-India and India-Pakistan.
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KEY INDUSTRY DEVELOPMENTS:
March 2021- A contract for the purchase of radar systems for USD 175 million was signed by the defense ministers of Slovakia and Israel. According to the agreements, Israel will provide the Slovak Air Force with seventeen highly advanced radar systems built by Israel Aerospace Industries (IAI).
April 2021- A modification contract worth USD 243.2 million was signed by Raytheon Technologies Corporation and the Missile Defense Agency for the delivery of the AN/TPY-2 radar, which was created to detect ballistic missiles and direct the Terminal High Altitude Area Defense system.
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