Military radar market worth $13 billion


The global military radar market was worth $11.02 billion in 2015 and is projected to reach $13.04 billion by 2020, at a compound annual growth rate of 3.42% from 2015 to 2020, according to a new study.

Research and Markets said that increased concerns towards airborne fire control, surveillance, ground mapping, early warning, air traffic control (ATC), surface-to-air missile guidance, and so on are driving the demand for military radars across the globe. With increased demand for defence surveillance over porous and attack prone borders, increased spending on the defence sector by developing countries, and increased terrorism and ongoing intercountry conflicts, the market for military radars is expanding subsequently.

The ground-based radars segment is expected to be the major contributor to the overall military radars market. Ground-based radar systems provide real-time information to military personnel; help locate unexploded ordinance and tunnels; detect movement near exterior walls, critical infrastructure, and buildings; and are used along with airborne, naval, and satellite platform radars for target integration. Current conflicts in Syria, Afghanistan, and the Crimean Peninsula are driving the demand for ground-based military radars, analysts say.

Weapon guidance systems rely on the tracking functions of military radar systems. Laser guidance, ground reference, and other systems used for weapon guidance use various types of radar, driving market growth. Military forces around the globe expect improvements in the accuracy and precision of military radars.

The Asia-Pacific region is expected to have the second-largest market share and highest growth rate in the global military radars market. Conflict over the disputed area of South China Sea is a major factor compelling the authorities to increase surveillance capabilities in the affected region. China, Taiwan, Vietnam, Malaysia, Brunei, and the Philippines have competing territorial and jurisdictional claims, particularly over rights to exploit the regions extensive reserves of oil and gas.

High growth in military expenditure and modernization of surveillance and battle systems is driving the radar market in India. For instance, the Indian Navy finalized the naval satellite for testing, prior to being shipped abroad and orbited on a non-Indian launch system, which is equipped with advanced radar systems.

The Brazilian Army is also spending on sensors, remote sensing, and command and control systems for defense, which is driving the radars market in the area.

The major players in the military radars market are: Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Raytheon Company (U.S.), Saab Group (Sweden.), Thales Group (France), Airbus Group (Netherlands), BAE Systems (U.K.), General Dynamics Corporation (U.S.), Israel Aerospace Industries (IAI) (Israel), and Finmeccanica SpA (Italy).