HOME Research Insight Raytheon (US) and Israel Aerospace Industries (Israel) are the Major Player in the Military Radars Market

Raytheon (US) and Israel Aerospace Industries (Israel) are the Major Player in the Military Radars Market

Military radars provide early detection of hostile intruders on ground and air. They are used in various air defense systems to counter aircraft and missile threats. The military radars market is projected to grow from USD 13.06 Billion in 2017 to USD 15.42 Billion by 2022, at a CAGR of 3.38% from 2017 to 2022. The growth of the market can be attributed to increasing concerns across the globe about the proliferation and use of ballistic and stealth missiles. Military radars are also be used for airborne fire control, air & ground surveillance, and ground mapping, among others. The increasing use of military radars in these applications is fueling the growth of the military radars market.

Technological advancements in the military radars market include a new generation of 4-dimension radars. The implementation of solid-state electronics has also led to the development of Advanced Electronically Scanned Array radars. These advancements have led to the development of highly efficient military radars.

Northrop Grumman (US), Raytheon (US), Saab (Sweden), Israel Aerospace Industries (Israel), Lockheed Martin (US), and BAE Systems (UK) are some of the key players operating in the of military radars market. These market players have been focusing on securing contracts to ensure their organic growth in the market. The core competencies of these market players include their widespread geographical presence and increased investments in R&D activities.

Raytheon, which is a major player in the military radars market, focuses on extensive R&D activities to gain contracts. The company has a diversified product portfolio and offers various air defense and surveillance radars. The company’s major customer is the US Department of Defense. As a part of its key growth strategy, Raytheon focuses on partnerships and contracts to enhance its presence in the military radars market. For instance, in May 2017, Raytheon received a contract worth USD 327 Million from the US Department of Defense to provide Air and Missile Defense radar for the US Navy.

Israel Aerospace Industries is another major player in the military radars market. The company offers military radars through its Elta subsidiary. Some of the products offered by the company include radars, air defense command control & communication (ADC3) systems, and EW systems, among others. The company also provides radar-based air and missile defense solutions, such as the Arrow. The company is expanding its business in airborne, naval, and land-based military radars through partnerships and joint ventures. For instance, in August 2017, Israel Aerospace Industries and Kalyani Strategic Systems Ltd. (India) signed a Memorandum of Understanding (MOU) for the setting up of a manufacturing facility in Hyderabad (India) to carry out maintenance of advanced military radars.

Related Reports:

Military Radars Market by Component (Antenna, Transmitter, Receiver, Duplexer, Display, Digital Signal Processor), Platform (Land, Naval, Airborne, Space), End User, Type, Frequency Band, Dimension, Range, Application, & Region - Global Forecast to 2022

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