Global Air and Missile Defence Radar Market Report and Forecast 2024-2032

Global Air and Missile Defence Radar Market Outlook

The global air and missile defence radar market stood at a value of around USD 13.95 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.20% to reach USD 24.11 billion by 2032.

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Increasing Deployment of Airborne-based Radar Systems to Aid the Market for Air and Missile Defence Radar Globally

Based on platform, the airborne-based segment accounts for a significant share in the market owing to the growing need to defend the air-to-air missile and rocket attacks. The increasing cases of terrorism through air-support is likely to propel the demand for airborne-based radar systems in the forecast period. In addition to this, high sensitivity, greater efficiency, and the ability of these systems to detect light-combat and electronic-warfare aircraft are anticipated to bolster the market growth.

North America to Drive the Market for Air and Missile Defence Radar

The market for air and missile defence radar in North America is driven by the rising expenditure of the government of the United States to counter terrorism and protect the country from any threat amidst the rising geopolitical tensions globally. The presence of major air and missile defence radar manufacturers, coupled with the high-end technology available in the country is likely to provide impetus to the market in the region in the forecast period. Moreover, the joint ventures of the United States with other military powers such as Israel, France, and the United Kingdom, among others to develop high-class air and missile defence radars are anticipated to further boost the market growth in the region.

Air and Missile Defence Radar: Market Segmentation

Air and missile defence radar is defined as a system for detecting the presence, direction, distance, and speed of the aircraft or missiles. This system is used to defend against simultaneous aircraft and missile raids through scanning, tracking, and closed-loop guidance.

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Based on platform, the market can be segmented into:

• Ground-Based
• Naval-Based
• Airborne-Based

Based on range, the market is divided into:

• Short Range
• Medium Range
• Long Range and Strategic System

The significant applications of air and missile defence radar include:

• Ballistic Missile Defence
• Conventional

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Expansion of the Military and Defence Sector in Emerging Economies to Boost the Growth of the Air and Missile Defence Radar Industry

The rising application of air and missile defence radars in the military and defence sector, owing to the rising military expenditure both in developed and developing nations, is driving the market. The market is being supported by the growing demand for air and missile defence radar in order to prevent the ballistic missile attack. Moreover, the rising territorial conflicts across the continents are likely to propel the demand for air and missile defence radars in the forecast period. The market will further be aided by the growing investments towards the development of short, medium, and long-range defence systems in the coming years.

Key Industry Players in the Global Air and Missile Defence Radar Market

The report gives a detailed analysis of the following key players in the global air and missile defence radar market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Raytheon Company
• Israel Aerospace Industries Ltd.
• Airbus SE
• BAE Systems
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report