(I-BusinessNews.Com, April 08, 2021 ) The report provides an analysis of the airborne radars market from 2018 to 2025. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market. The Airborne Radars Market is projected to grow from USD 4.1 billion in 2020 to USD 6.0 billion by 2025, at a CAGR of 8.0% from 2020 to 2025. The airborne radars market in the North America and Asia Pacific regions is expected to witness substantial growth during the forecast period due to the growing emphasis on modernizing existing defense capabilities.
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Based on component, the digital signal processor segment is projected to grow at the highest CAGR during the forecast period. The growth in the airborne radars market is expected to drive the growth of these different components proportionately. The requirement of advanced radar systems, as well as upgradation and modernization of conventional radar, will help grow the market for radar components. Thus, the growth rate of multiple components, such as transmitters, receivers, and power amplifiers, is expected to be in a similar range during the forecast period.
Based on platform, the UAVs segment is projected to grow at the highest CAGR during forecast period. The demand for sophisticated airborne radars to support airborne surveillance activities through UAVs by several defense organizations is driving the UAVs segment growth globally.
Based on technology, the software-defined radar (SDR) segment is projected to grow at the highest CAGR during forecast period. Growing demand for versatility of airborne radar in processing various tasks, such as signal generation, filtering, up and down conversion, etc., through software is driving the growth of this segment. Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Leonardo SpA (Italy) and BAE Systems (US) are some of the major players that offer technologically advance airborne radars.
Based on dimension, 3D segment is projected to grow at the highest CAGR during forecast period. 3D airborne radar overcome the challenges faced by 2D radar. They use active electronically scanned arrays, with digital beamforming capabilities. These radars are critical for air defense and for applications that require the precise coordinates of a target. Demand for high accuracy in target detection and fully automated operational capabilities are some of the major factors driving the segment growth.
Based on application, the defense & security segment is projected to grow at the highest CAGR during forecast period. Increasing defense expenditure to procure advanced airborne radar is projected to drive the growth of this segment.
The Asia Pacific airborne radars market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific airborne radars market is primarily driven by increasing focus on modernization of existing military systems by major economies in this region. In addition, factors including increasing geopolitical tensions and increased defense related expenditure are expected to drive the demand for airborne radar in the region.
Key Market Players
Key players such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), Hensoldt AG (Germany), Leonardo SPA (Italy), BAE Systems (UK), Israel Aerospace Industries (Israel), Saab AB (Sweden), Aselsan (Turkey), Elbit Systems (Israel) and L3Harris Technologies (US) are supplying advanced solutions for airborne radar.
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