Newark, NJ, Feb. 03, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global military radars market is expected to grow from USD 13.58 billion in 2019 and to reach USD 19.63 billion by 2027, growing at a CAGR of 4.72% during the forecast period 2020-2027.
In the Middle East, due to terrorism and governmental volatility, modern weaponry usage like missiles is highly increasing by different terrorist groups. In order to secure borders and protect against the weapons, countries in the Middle East are highly investing a massive amount of money in military radars. Countries such as Qatar, the United Arab Emirates and Saudi Arabia have huge expenditure on different air defense and radar systems in the Middle East region. The production of military radars needs considerable investment in research and development. Huge expenses are included in consolidating the military radar systems into the security systems of countries. Military radars have to be combined with different anti-aircraft guns, missiles, command and control systems and fire control systems. These systems are also expensive to manage. Therefore, the huge expense and time needed for the production and deployment of the military radar systems hinder the market's growth.
Radar is a device that is primarily utilized for the detection of various objects. It employs radio waves in order to identify the direction, elevation and velocity of objects. Microwaves, also known as radio waves, are sent from a radar plate. These waves travel in specified pathways till an object obstructs them. The transmitter reflects a tiny portion of the wave, which is useful in defining various aspects along with the velocity of the object. Radar is an essential device in the military employed to missiles, vehicles and aircraft. The radar is used in various applications that involve surveillance‐based radar systems like area surveillance radars, air surveillance radar and ground penetration radar. Also, it is used in tracking based radar systems like weapon locating radar, ballistic missile defence radar, mortar or shell‐tracking radar.
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The construction of novel weapons with superior technologies is a significant threat to platforms and locations like military ships and airbases. New advancements involve high-speed cruise missiles and nuclear-capable ballistic missiles. Countries are highly emphasizing on producing high-level armaments that have the capacity to fight high-end air defense systems like S-400, Patriot Advanced Capability-3 (PAC-3) and Medium Extended Air Defense System (MEADS). India and Russia have collectively produced the BrahMos missile. It is hard to catch by traditional missile protection guards. Such advancements have resulted in increasing demand for modern high-speed air defense radar systems. Electronic jamming methods like spot jamming, sweep jamming and barrage jamming result in the confinement of specific wavelengths. Advanced radars have to be examined in Radar Environmental Simulators (RES) for jamming resistance. Such novel radar-jamming methods substantially increase the expense of creating radar systems in research and development.
Key players operating in the global military radars market include BAE Systems PLC, General Dynamics, Lockheed Martin Corporation, Raytheon Company, Thales Group, Airbus Group, Israel Aerospace Industries Ltd., Saab Group, Northrop Grumman Corporation and Finmeccanica SPA. To gain a significant market share in the global military radars market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The space-based military radars segment is expected to register the highest share over the forecast period
The type segment includes space-based, airborne and ground-based. The space-based military radars segment is expected to register the highest share in the global military radars market over the forecast period. It is due to an increase in the approval of space-borne Synthetic Aperture Radar (SAR). It helps in intelligence gathering, combat zone reconnaissance and remote sensing.
The multi-band segment is expected to show the highest share over the forecast period
The frequency band segment includes Multi-band, Ka-band, Ku-band, X-band, C-band and S-band. The multi-band segment is expected to show the highest share over the forecast period. The rising prevalence of a single beam source unit design for a multiband receiver and transmitter is a contributing factor to the growth of the segment as it decreases complex problems in generation while minimizing the size and the cost. These multi-band radar systems are more reliable as compared with the different varieties of military radar systems. These are utilized for tracking and constant detection of moving target objects.
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Regional Segment Analysis of The Military Radars Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global military radars market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America held the highest share in the global military radar market in 2019. Contributing factors to the growth of the market in the region are actions and programs like Three Dimensional Expeditionary Long-Range Radar (3DELRR) program and Air and Missile Defense Radar (AMDR) program. Military radars are an essential part of UAVs, naval vessels, armored vehicles and aircraft. Also, massive spending by the regional government on defense vessels are boosting the growth of the market in North America.
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About the report:
The global military radars market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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