Military Radar Market worth $18.4 billion by 2029 - Exclusive Report by MarketsandMarketstm

CHICAGO, July 2, 2024 /PRNewswire/ -- The Military Radar Market is valued at USD 14.1 billion in 2024 and is projected to reach USD 18.4 billion by 2029, at a CAGR of 5.4% from 2024 to 2029 according to a new report by MarketsandMarketstm. The military radar market involves the design, manufacture, and implementation of radar systems tailored for defense and military use. These systems are employed by military forces and defense agencies to improve situational awareness, and capabilities in target detection, tracking, surveillance, and reconnaissance. A key driver of this market is the increasing need for advanced defense mechanisms amid rising global security threats, which necessitates continual upgrades to radar technologies to ensure robust national and international security.

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Military Radar Market Report Scope:

Based on the platform, the airborne segment is estimated to grow at the highest CAGR during the forecast period.

Based on the platform, the airborne segment is estimated to lead the military radar market from 2024 to 2029 with the highest CAGR. This growth is primarily driven by the expanding use of Unmanned Aerial Vehicles (UAVs) in both military and commercial sectors. UAVs demand compact, efficient, and lightweight radar systems for various applications including surveillance, reconnaissance, border patrol, search and rescue, and commercial traffic monitoring.

Technological advancements are also contributing to this trend, with ongoing developments in radar miniaturization, reduced power consumption, and improved image resolution to enhance UAV capabilities. Additionally, global military modernization efforts are integrating more UAVs equipped with advanced radars, further stimulating this growth.

Based on the technology, the quantum radar segment is estimated to grow at the highest CAGR during the forecast period.

Based on the technology, the quantum radar segment is estimated to lead the military radar market from 2024 to 2029 with the highest CAGR. This expected growth is primarily due to quantum radar's capability to significantly enhance detection accuracy by utilizing quantum entanglement properties, which enables it to identify objects that conventional radars may overlook. This technology is particularly effective in environments affected by high levels of noise or equipped with stealth capabilities designed to evade traditional detection methods. The increasing prioritization of national defense and security is further driving investment in advanced radar technologies, including quantum radars. As countries modernize their military assets to address evolving security threats, quantum radar will emerge as a key component in these upgrades, with improved effectiveness in surveillance and reconnaissance operations.

Based on range, the short-range segment is estimated to grow with the highest CAGR during the forecast period.

Based on range, the short-range segment is estimated to grow with the highest CAGR during the forecast period due to several key factors. This growth is driven by the increasing demand for radars that can operate effectively over shorter distances, which are essential for applications such as automotive safety systems, drone navigation, and perimeter security. These systems are valued for their ability to provide rapid response and high-resolution imaging in close proximity environments.

The rise in the adoption of advanced driver-assistance systems (ADAS) and autonomous vehicles heavily contributes to this trend, as short-range radars are integral for functions like collision avoidance, parking assistance, and pedestrian detection. Additionally, the expanding use of drones for commercial and defense applications enhances the demand for short-range radar capabilities to navigate in complex and cluttered environments.

Based on dimension, the 4D segment is to grow with the highest CAGR in Military Radar market.

The 4D segment in the military radar market is seeing the highest CAGR due to several factors. These radars provide comprehensive situational awareness by tracking objects in three spatial dimensions plus time, crucial for early threat detection and effective decision-making in combat scenarios. Their ability to distinguish between object types reduces false alarms, while superior clutter rejection capabilities improve target tracking in complex environments. The push for modernization, coupled with advancements in computing, signal processing, and antenna design, is making 4D radars both effective and cost-efficient, leading to their rapid adoption and market growth.

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Based on regions, Europe is to grow with the highest CAGR in the Military Radar market.

Based on region the Europe market is estimated to account for highest CAGR during the forecast period. Many European militaries are prioritizing the modernization of their aging radar systems with next-generation technologies that offer better range, accuracy, and counter-threat capabilities. European defense companies are advancing radar technology, including Active Electronically Scanned Array (AESA) radars for improved target tracking and Gallium Nitride (GaN) based radars for enhanced efficiency and range. Additionally, the growing threat from drones is boosting demand for specialized radars for detecting low-altitude targets, potentially leading to sustained increases in defense budgets across Europe, thereby driving significant growth in the military radar industry from 2024 to 2029.

Key Players

The military radar companies is dominated by a few globally established players such as RTX Corporation (US), Thales (France), Lockheed Martin Corporation (US), Leonardo S.P.A (Italy), and Israel Aerospace Industries (Israel).

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Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting

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