AIRBORNE FIRE CONTROL RADAR MARKET GLOBAL FORECAST FOR 2024-2030
The global airborne fire control radar market was valued at USD 2,655.4 million in 2020. The COVID-19 pandemic had an unprecedented and significant impact on this market, resulting in a sharp decline in demand across all regions. Our analysis indicates that the market experienced a substantial contraction of 6.7% during 2020. However, the market is expected to recover and grow from USD 2,797.3 million in 2021 to USD 3,866.4 million by 2028, registering a compound annual growth rate (CAGR) of 4.73% during the 2021-2028 period. North America led the market, accounting for 33.57% of the global share in 2020.
The airborne fire control radar market is experiencing steady growth due to rising demand for advanced radar systems in military and defense applications. These radars are essential for detecting, tracking, and engaging airborne and ground-based targets with precision. The growing need for enhanced situational awareness, coupled with advancements in radar technology, such as active electronically scanned arrays (AESA), is driving market expansion. Increasing defense budgets, particularly in regions like North America and Asia-Pacific, along with modernization programs for existing aircraft fleets, further contribute to the demand for airborne fire control radars.
Segmentation Insights:
The market analysis offers a detailed segmentation based on radar type, platform, frequency band, and region. It evaluates various radar types, such as mechanically scanned array (MSA) and electronically scanned array (ESA), for their market share and growth prospects. Additionally, segmentation by platform includes fighter jets, helicopters, unmanned aerial vehicles (UAVs), and others, providing a comprehensive overview of the market landscape.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/airborne-fire-control-radar-market-104048
Key Players:
- Airbus S.A.S. (Netherlands)
- BAE Systems (The U.K.)
- General Dynamics Corporation (The U.S.)
- Israel Aerospace Industries Ltd (Israel)
- Leonardo S.p.A. (Italy)
- Lockheed Martin Corporation (The U.S.)
- Northrop Grumman Corporation (The U.S.)
- Raytheon Technologies Corporation (The U.S.)
- Saab AB (Sweden)
Key Market Insights: Airborne Fire Control Radar Market
- Market Value and Growth:
The airborne fire control radar market was valued at USD 2,655.4 million in 2020. Despite the impact of COVID-19, the market is expected to recover, reaching USD 3,866.4 million by 2028, growing at a CAGR of 4.73% during the forecast period (2021-2028). - COVID-19 Impact:
The pandemic caused a significant disruption in the market, with a notable 6.7% decline in 2020. Lockdowns, supply chain interruptions, and decreased defense budgets in some regions contributed to this downturn. - Regional Dominance:
North America held the largest market share at 33.57% in 2020, primarily driven by the strong presence of key defense contractors and increased defense spending in the U.S. - Technological Advancements:
Ongoing advancements in radar technology, including the development of multi-mode radars, improved targeting accuracy, and integration with modern combat systems, are key factors driving market growth. - Rising Defense Budgets:
Increasing defense budgets in several countries, especially in Asia-Pacific and the Middle East, are expected to fuel demand for airborne fire control radar systems. This rise is due to geopolitical tensions and the need for modernized military equipment. - Key Drivers:
- Increasing demand for next-generation fighter jets equipped with advanced radar systems.
- Growing need for improved precision and targeting accuracy in military operations.
- Expansion of global military modernization programs.
- High development and maintenance costs of airborne fire control radar systems.
- Potential delays in defense projects due to budget constraints or shifting priorities in certain regions.
Emerging economies, especially in Asia-Pacific, are likely to present growth opportunities as they invest in strengthening their air defense capabilities and modernizing military fleets.
Latest Trends:
The report highlights the latest trends influencing the airborne fire control radar market, including:
- Shift towards Active Electronically Scanned Array (AESA) Radars: The market is witnessing a notable shift towards AESA radars, driven by their superior performance, agility, and versatility compared to traditional mechanically scanned array (MSA) radars.
- Integration of AI and Machine Learning: Advancements in artificial intelligence (AI) and machine learning (ML) algorithms are being integrated into airborne fire control radar systems to enhance target detection, tracking accuracy, and decision-making capabilities in complex operational environments.
- Focus on Multi-Mission Capabilities: Manufacturers are increasingly emphasizing the development of multi-mission capable fire control radar systems, capable of supporting air-to-air, air-to-ground, and air-to-sea operations, to meet evolving defense requirements.
Driving Factors:
Several factors are driving the growth of the airborne fire control radar market, including:
Modernization Initiatives: The ongoing modernization of military fleets worldwide, coupled with the need to replace aging radar systems with advanced, next-generation solutions, is a primary driver of market growth.
Counter-Stealth Capabilities: The proliferation of stealth technologies in adversary platforms has spurred investments in airborne fire control radar systems with enhanced counter-stealth capabilities, driving market demand.
Surge in Unmanned Aerial Vehicles (UAVs): The increasing utilization of UAVs for intelligence, surveillance, and reconnaissance (ISR) missions, coupled with the need for effective fire control radar systems on these platforms, is contributing to market expansion.
As the global aerospace and defense industry continues to evolve, the airborne fire control radar market is poised for sustained growth, driven by technological innovations, rising defense expenditure, and evolving threat landscapes.