Air and Missile Defence Radar System Market Prognosticated To Escalate With a Staggering CAGR 7.43%

Air and Missile Defence Radar System Market Outlook

Global Air and Missile Defence Radar System Market OverviewThe Air and missile defense radar system market size is projected to grow at a CAGR of 7.34% from 2022 to 2027.

The global air and missile Defence radar system market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of air and missile Defence radar system market will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2022-2027).  

The high demand for air and missile Defence radar system market is due to the growth in the long range radar tracking system. This increases in the participation of OEMs in the field of air and missile Defence radar system market. Moreover, the growing demand for ballistic missile Defence, air Defence and surface warfare capabilities that satisfy the demand for Defence radar system. The rapid technology advancement along with the increased focus of OEMs on providing Defence radar system is expected to result in an increase in Defence expenses and as well as it is expected to add to the growth of the market. However, complexities with the integration of new technologies, and threats due to growing cyber warfare acts as a barrier to the growth of air and missile Defence radar system market.

The air and missile Defence radar system market is completely dependent on the expansion of multi-mission capabilities. Thus, the increasing or decreasing demand for the Defence capabilities directly has an impact on the market. Moreover, the factor responsible for the growth of air and missile Defence radar system market is territorial conflicts, demand for advanced battlefield surveillance radar, prevention from ballistic and stealth missiles and growth in R&D investments. This is the primary factor that drives the growth of the global air and missile Defence radar system market and has gained prevalence in the recent times, with the usage of best in class technologies in Defence. Thus, the growth of the air and missile Defence radar system market is expected to go hand in hand with the growth of investment in the Defence.

The technology upgradation of Defence surveillance system, which has resulted in the development of a set of global air and missile Defence radar system market. The increase focus of manufacturers on Defence surveillance system will lead to an increase in use of air and missile Defence radar system, due to which there will be growth in global air and missile Defence radar system market. Hence, it is expected that the Defence technological capability would eventually drive the global air and missile Defence radar system market. Moreover, growth in automation and modernization of Defence surveillance systems, will drives the growth of global air and missile Defence radar system market. This enables faster response to crisis situations and adaptation to the dynamic technological advances in the Defence industry.

Industry/ Innovation/ Related News:

March, 2015 – Airbus Defence and Space introduced air surveillance radar which give advantageous air traffic control capabilities.

 July, 2017 – Russian Almaz-Antey signed a contract with the Belarusian Defence Ministry to supply radars for air Defence system.

October, 2017 – Israel Aerospace Industries signed a contract with the NATO air defence command and control to supply an advanced 3D air surveillance and Defence radar system.

Global Air and Missile Defence Radar System Market Segmentation

The global air and missile Defence radar system market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Range                   : Comprises Short, Medium and Long

Segmentation by Application           : Comprises Ballistic Missile Defence and Conventional

Segmentation by Platform                : Comprises Land Based, Naval and Airborne

Segmentation by Regions                 : Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.

Global Air and Missile Defence Radar System Market Regional Analysis

North American region is dominating the market of global air and missile Defence radar system market due to high demand for air surveillance system. The market in the North American countries is largely driven by popularity of AMDR program introduced by U.S. Military, which helps in growth of global air and missile Defence radar system Market.

Asia Pacific market is referred to as the second-largest air and missile Defence radar market due to factors such as growing investment in border security have fuelled the demand for global air and missile Defence radar system market.