Air And Missile Defense Radar Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
12 Jun, 2023
The global air and missile defense radar market size is expected to grow from $11.05 billion in 2022 to $12.05 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global air and missile defense radar market size is expected to reach $16.38 billion in 2027 at a CAGR of 8.0%.
Global Air And Missile Defense Radar Market Key Driver
Rising military spending around the world is propelling the air and missile defence radar industry ahead. The amount of money devoted to sustaining an armed force or other types of defence is known as a military expenditure plan (or military expense) and is part of a country's defence budget. As governments expand their military and defence spending, they invest in modern technologies such as air and missile defence radars to improve their ability to detect and intercept approaching threats. In the military, radar-equipped fighter aircraft are used to track and manage air-to-air missiles, rockets, and guns.
Get a sample of the global air and missile defense radar market reportGlobal Air And Missile Defense Radar Market Segments
The global air and missile defense radar market is segmented:
1) By Platform: Airbrone, Land, Naval
2) By Radar Type: X Band Radars, S Band Radars
3) By Range: Short Range, Medium Range, Large Range
4) By Application: Conventional, Ballistic Missile Defense
5) By Geography: The regions covered in the air and missile defense radar market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global air and missile defense radar market.
Major Air And Missile Defense Radar Industry Players
BAE Systems, Israel Aerospace Industries Ltd., Leonardo S p A, Lockheed Martin Corporation, Northrop Grumman, Raytheon Technologies Corporation, Reutech Radar Systems, SAAB AB, Telephonics Corporation, Thales, Airbus, Aselsan AS, DeTect Inc., General Dynamics Corporation, Indra Sistemas SA
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Air And Missile Defense Radar Market Overview
Air and Missile Defense Radar (AMDR) is a type of radar system used for detecting and tracking incoming threats such as ballistic missiles, cruise missiles, and other aerial threats. These radars are designed to provide early warning of potential attacks and to track multiple targets simultaneously.
Air And Missile Defense Radar Global Market Report 2023 provides data on the global air and missile defense radar market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The air and missile defense radar market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.