Airborne Fire Control Radar Market to be Driven by the Growing Adoption of Airborne Fire Control Radar in Military and Defence Sectors in the Forecast Period
The new report by Expert Market Research titled, ‘Global Airborne Fire Control Radar Market Share, Report and Forecast 2022-2027’, gives an in-depth analysis of the global airborne fire control radar market, assessing the market based on its segments like frequency bands and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 3.1 Billion
- Forecast CAGR (2022-2027): 80%
- Forecast Market Size (2027): USD 3.9 Billion
The rapid growth of the military and defence sector and the increased military spending by countries across the globe is driving the airborne fire control radar industry. The growing adoption of active electronically scanned array (AESA)-based systems owing to border security concerns is resulting in the steady growth of the market. The increasing territorial conflicts over natural resources and borders is playing a critical role in the incremental development of the airborne fire control radar industry. Moreover, the advantages of X bands, such as sharper image, wide-area surveillance, and better resolution, are likely to aid the market in the forecast period.
Industry Definition and Major Segments
The airborne fire control radar is a primary sensor that is used to search, track multiple targets, and command one’s missiles. The radar is operated from a control centre, and it emits radio waves in order to track information accurately and reduce the chance of losing track of the target.
The airborne fire control radar industry, by frequency band, is divided into:
The regional markets of airborne fire control radar include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The investments made by the government worldwide to develop fire control radars is leading to the expansion of the airborne fire control radar industry. For instance: the Indian Defence Research and Development Organisation (DRDO) designed an Active Electronically Scanned Array radar, UTTAM, for the indigenous fighter craft Tejas. Moreover, the wide range of fire control radar systems provided by leading industry players is also invigorating the market growth. Northrop Grumman Corporation offers AN/APG-77 AESA Radar; AN/APG-81 Active Electronically Scanned Array (AESA) Fire Control Radar, AN/APG-78 Longbow Fire Control Radar, and SABR (Scalable Agile Beam Radar) APG-83 AESA, among others. Further, the technological advancements in radar technologies and the investments made in research activities are expected to propel the market in the forecast period.
Key Market Players
The major players in the market are Northrop Grumman Corporation, Lockheed Martin Corporation, BAE Systems PLC, Raytheon Company, General Dynamics Corporation, and Airbus SE, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.