Military Radar Market Current and Future Trends by 2028

Fortune Business Insights Pvt Ltd announces the publication research report Military Radar Market, 2023-2028. The Military Radar Market size is expected to register a steady CAGR of 6.27% and is expected to reach USD 22.06 Billion billion by 2028.

Presents the clean elaborated structure of the market comprising an in-depth evaluation of this industry. The report explores components associated with the market covering the industry environment, Military Radar Market size, share, segmentation analysis, and competitive landscape. According to the report, the will generate massive returns by the end of the forecast period and is expected to show an appreciable rate of growth over the coming years on an annual basis. It explains the market’s rapid development in the current and past years and its progress during the forecast period.

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The study offers a commendable brief of Military Radar Market segmentation by top players/brands, regions, types, and end-user. Our team of expert researchers has obtained a complete range of information related to the market. Through advanced and reliable primary and secondary research sources, the analysts have gathered, calculated, and verified all data and findings. Further key countries expected to display significant growth prospects are included in the report. The report highlights key market dynamics, the profile of key Military Radar Market players, and a comprehensive outline of the market environment in terms of sales and production for the forecast period.

Major Key Companies Covered in Military Radar Market are:

• Airbus S.A.S (Netherlands)
• BAE Systems (U.K.)
• General Dynamics Corporation (U.S.)
• Honeywell International (U.S.)
• Israel Aerospace Industries (Israel)
• Leonardo S.p.A (Italy)
• Lockheed Martin Corporation (U.S.)
• Northrop Grumman Corporation (U.S.)
• Raytheon Technologies Corporation (U.S.)
• Saab AB (Sweden)
• Thales Group (France)

Report Scope:

The following report presents the findings of thorough primary and secondary research, providing a comprehensive understanding of the current and future objectives of the Military Radar Market. The report includes a competitive analysis of the industry, categorized by application, type, and regional trends, alongside a dashboard overview of the historical and current performance of key players. To ensure accuracy and comprehensiveness, a range of methodologies and analyses were implemented throughout the report.

Main Pointers Presented in the Report are:

• Recent Military Radar Market trends
• Geographical dissection
• Industry drivers
• Market Competitors
• Turnover predictions
• Competitive framework
• Key challenges
• Market concentration rate analysis
• Consumption growth rate

Market Restraint

Shifting Spending Priorities amid COVID-19 to Hinder Market Growth

The military radar market growth is expected to be hit by the COVID-19 pandemic as economic downturn in most parts of the world has forced countries to prioritize their spending. For example, in April 2020, the Indian Finance Ministry indicated cuts in defense budget that can go as high as 40%, slashing the USD 73.65 billion allocation earmarked by the government for 2020-21 by a substantial margin. According to the International Institute of Strategic Studies (IISS), even NATO member states will struggle to meet their target of expending 2% of GDP for defense, with spending in real terms falling even more steeply. Reduced military expenditures will lead to delays in projects and even cancellation of military modernization programs planned, halting the adoption of advanced technologies such as military radars. However, the silver lining is that defense spending by the US and China is expected to remain stable, which may offset some of the losses predicted by companies.

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Regions Covered in Military Radar Market Report are: 

• North America (United States, Canada, and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and the rest of South America)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)

Industry Developments:

• June 2020: The US Missile Defense Agency awarded a USD 2.3 billion contract to Raytheon Missiles & Defense to produce seven gallium nitrate-based radars as a component of the Terminal High Altitude Area Defense (THAAD) system. Part of this contract involves sale of military equipment to Saudi Arabia.
• March 2020: Bharat Electronics Limited (BEL) secured a USD 40 million defense deal to provide indigenously-built military radar systems to Armenia, beating Russia and Poland for the contract. The radar system, called Swathi Weapon Locating Radars, has been developed by the Defense Research and Development Organization (DRDO) and Radar Development Establishment (RDE).

Key Questions Answered:

• What are the Military Radar Market trends shaping the market?
• What are the growth opportunities in the market?
• What are the key players operating in the market?
• What is the market size and growth rate of the global and regional market by various segments?
• What is the market share and growth rate of the market for selective countries?
• Which region or sub-segment is expected to drive the market in the forecast period?

 Some Main Reasons for Purchasing This Report

• A detailed introduction of the industry, inclusive of the progress
• A detailed study of the top players in the market
• A detailed survey of the with respect to the present and future Military Radar Market scenario
• Readers of this report will receive in-depth knowledge about the market
• New ways and approaches appropriate within the advancement structure of the market.
• It will help you to find prospective partners and suppliers.
• It will assist and strengthen your company’s decision-making processes.

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