Global Air and Missile Defense Radar System Market by Range (Short, Medium, & Long), Application (Ballistic Missile Defense, & Conventional), Platform (Land Based, Naval, & Airborne), and Region – Global Forecast to 2023.
Air and missile defense radar system is designed to provide ballistic missile defense, air defense, and surface warfare capabilities. In addition to that, it provides multi-mission capabilities, tracking, and discrimination of ballistic missiles, as well as area and self-defense against air and surface threats. However, there are some shortcomings in the air and missile defense radar system market, such as complexities due to the integration of new technologies and threats due to growing cyber warfare.
Electronically embedded technologies provide multi-beam capabilities to reduce anti-aircraft warfare surveillance frame times. It improves the radar performance in both natural and manmade harsh environments. Moreover, the military and defense sectors consistently adopts new technologies to develop advanced radars system in a surveillance system which has led to the development of air and missile defense radar system. The rise in popularity of tracking long-range threats is expected to drive the market during the forecast period.
The factors responsible for the growth of air and missile defense radar system market are territorial conflicts, demand for advanced battlefield surveillance radar, prevention from ballistic and stealth missiles, and growth in R&D investments. Other key drivers expected to contribute towards the growth of air and missile defense radar market are growth in automation and modernization of defense surveillance systems.
The air and missile defense radar system market is segmented based on range, application, platform, and region. On the basis of platform, land-based air and missile defense radar system is widely used and comprises the largest market share due to the growing need for military and homeland security application. It is widely used for ground mapping, missile defense application, and intrusion detection. On the basis of application, ballistic missile defense is expected to grow at the highest CAGR during the forecast period.
The market is segmented based on region into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The North American region is expected to dominate the market in future due to high demand for air surveillance systems. The air and missile defense radar system market is driven by the popularity of Air and Missile Defense Radar (AMDR) program introduced by the U.S. Military. Asia Pacific market is second to the North America market in air and missile defense radar aircraft market due to growing investments in border security. Thus, the air and missile defense radar market is estimated to grow at approximately 7% CAGR during the period of 2017-2023.
The key players in the global air and missile defense radar system market are Airbus Group (Netherlands), Almaz-Antey (Russia), BAE Systems Inc. (U.K.), Leonardo S.p.A (Italy), General Dynamics (U.S.), Israel Aerospace Industries Ltd (Israel), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Raytheon Company (U.S.), Reutech Radar Systems (South Africa), SAAB Group (Sweden), and Thales Group (France).
Scope of Report
The report for Global Air and Missile Defense Radar System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.