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The Global Military Radar Market 2012–2022

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London, June 2012 - The military radar market consists of four categories of radars: Ground based radars, Airborne radars, Naval radars and Space based radars. The value of the market is expected to increase at a CAGR of 2.57% during the forecast period.

The global economic slowdown has reduced the defense budgets of most leading spenders in the world, including the US, France, Germany and the UK. These countries have cut back on spending on various defense sectors such as space, aircraft and vehicles, but at the same time have diverted funds towards sectors where rapid technology development and deployment is possible such as radars, Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) and cyber-warfare. High growth markets such as the BRIC nations have been formulating continuous programs to procure the latest radar technology and establish total geographical surveillance over the review period and with continuous evolution and technological developments taking place in the military radar domain, this trend is expected to continue throughout the forecast period.

The demand for military radars is anticipated to be driven by internal as well external security threats, territorial disputes and modernization initiatives undertaken by armed forces across the world. Cumulatively, the global market for military radars is expected to value US$81.8 billion during the forecast period. The global military radar market is expected to be dominated by the US during the period, followed closely by Europe and Asia-Pacific. Despite the economic crisis in Europe, Europe’s share of the global market is projected to increase during the forecast period due to the development of advanced missiles, and air and ground defense systems, for which radars are a key component, and for the modernization of naval war fighters such as destroyers and frigates.

The global defense industry is investing significantly in research and development (R&D) to increase the capabilities of modern military aircraft and naval vessels, which has led to the development of new and ground-breaking radar system technologies, which can enhance the detection capabilities, surveillance duration and resolution, incoming projectile defense capabilities, base and area protection capabilities and early warning system capabilities of the various types of military aircraft, naval vessels and ground-based forward forces.

In terms of categories, the airborne radar is expected to account for the highest proportion of spending in the global military radar market, followed by ground-based radar and naval radars. The demand for airborne radars is anticipated to be higher than other categories because of the increase in the number of aircraft modernization programs being developed by various countries around the globe.

The Global Military Radar Market 2012–2022

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