The military radars market is projected to grow from USD 13.5 billion in 2022 to USD 17.1 billion by 2027, at a CAGR of 4.7% during the forecast period. Demand for surveillance and fire control radars has increased in response to rising threats from fast missiles and aircraft. Major market drivers for military radars include rising defense spending in emerging nations, escalating regional tensions, and an uptick in international conflicts. Military radar demand has increased significantly around the world as a result of the expanding use of ballistic and stealth missiles in areas of conflict.
Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), Israel Aerospace Industries (Israel), Thales Group (France), and Leonardo S.P.A. (Italy) are some of the leading players operating in the military radars market. These players have adopted various organic and inorganic growth strategies to strengthen their position in the market. These include new product developments, contracts, partnerships, expansions, agreements, acquisitions, and research & development (R&D) activities further to expand their presence in the military radars market.
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Raytheon Technologies Corporation
Raytheon Technologies Corporation is one of the top firms offering goods for military, civil, and cybersecurity purposes. The business provides missile defense systems along with cutting-edge sensors and imaging technology. The business sells radars for air and missile defense, aerial surveillance, air traffic control, marine surveillance, and radars installed on ground vehicles. Future commercial potential will increase because of the merging of Raytheon Company and United Technologies Corporation.
A company called Thales Group manufactures, markets, and sells electronic devices and systems for the aviation, military, and defense industries. One of the top suppliers of accurate sighting, detecting, and identification systems and solutions to the defense industry worldwide is Thales. Additionally, it creates cutting-edge technologies to meet the operational needs of land, air, and space surveillance, as well as maritime patrol and surveillance.
Lockheed Martin Corporation
The electro optical/infrared sensor systems used in the production of the many radars and sensors made by Lockheed Martin Corporation enable next-generation capabilities for intelligence, surveillance, and reconnaissance as well as advanced precision targeting and navigation.
Israel Aerospace Industries
In the fields of commercial aviation, defense, and homeland security, Israel Aerospace Industries produces and offers a broad range of goods for aerial, naval, and land systems. The business sells surveillance radars for use in naval, aerial, coastal, and terrestrial applications. Depending on the needs of customers, its ground-based radars can be stationary, mobile, or portable.
Government, private, and business sectors can choose from a variety of defense and security systems offered by Leonardo S.P.A. The business is renowned for its investments in R&D in the security, aerospace, and defense industries. Due to the presence of subsidiaries, joint ventures, and foreign partnerships in 20 countries, including the UK, Poland, and the US, the company has a sizable supply network.
Military Radars Market by Component (Transmitter, Digital Signal Processor), Platform (Land, Naval, Airborne, Space), Technology (SDR, Quantum, Conventional), Waveform (FMCW, Doppler), Application, Type, Frequency Band & Region - Global Forecast to 2027
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