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The airborne fire control radar market valued at $2.49 billion in 2020, and is estimated to reach $4.5 Billion by 2030, at a CAGR of 6.17% from 2021 to 2030.
Airborne Fire Control Radar Market - By frequency band, the Ku/K/Ka-band segment is anticipated to exhibit significant growth in the near future.
” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, October 23, 2024 /EINPresswire / -- Allied Market Research published a report, titled, "Airborne Fire Control Radar Market by Frequency
band (X-Band, L And S-Band, Ku/K/Ka-Band), by
platform (Fighter Jets, Combat Helicopters, Others), by Application (Air To Ground, Air To Sea, Air To Air): Global Opportunity Analysis and Industry Forecast, 2020-2030". According to the report, the global airborne fire control radar industry generated $2.5 billion in 2020, and is anticipated to generate $4.4 billion by 2030, witnessing a CAGR of 6.2% from 2021 to 2030.
Prime determinants of growth
Growth in usage of active electronically scanning array (AESA) technology, rise in accession of fighter jets to improve aerial strength, and surge in military expenditure in numerous countries drive the growth of the global airborne fire control radar market. However, high maintenance cost hinders the market growth. On the other hand, technological advancements and upsurge in demand from emerging economies to address territorial conflicts present new opportunities in the coming years.
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The X-Band segment to maintain its leadership status throughout the forecast period
Based on frequency band, the X-Band segment held the highest market share in 2020, accounting for nearly half of the global airborne fire control radar market, and is estimated to maintain its leadership status throughout the forecast period. These types of radars are typically suitable for military applications such as interceptors, fighter jets, and helicopters, which in turn, is acting as a driving factor for the segment. Moreover, the Ku/K/Ka-Band segment is projected to manifest the highest CAGR of 7.8% from 2021 to 2030. Increasing demand for high-resolution, and close-range targeting radars on military aircraft supports the growth of this segment.
The air to ground segment to maintain its lead position during the forecast period
Based on application, the air to ground segment accounted for the largest share in 2020, contributing to nearly half of the global airborne fire control radar market, and is projected to maintain its lead position during the forecast period. This is because developed nations such as the U.S. have started several research and development programs for evolution of technologies to develop advanced air to ground airborne fire control radar. However, the air to air segment is expected to portray the largest CAGR of 8.2% from 2021 to 2030, owing to increasing aerial threats, and military investments promoting the growth of air to air airborne fire control radar systems.
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North America, to maintain its dominance by 2030
Based on region, North America, held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global airborne fire control radar market, owing to high adoption of technology, large number of market players, and high military spending. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.7% during the forecast period. Growth in security concerns, rising territorial conflicts, and increase in R&D activities supports the growth of this region.
Leading Market Players
Bharat Electronics Limited
Hensoldt AG
Israel Aerospace Industries
Leonardo S.p.A.
Lockheed Martin Corporation
BAE Systems Plc
Northrop Grumman Corporation
Raytheon Technologies Corporation
Saab AB
Thales Group
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KEY FINDINGS OF THE STUDY
By frequency band, the Ku/K/Ka-band segment is anticipated to exhibit significant growth in the near future.
By platform, the others segment is anticipated to exhibit significant growth in the near future.
By application, the air to air segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the airborne fire control radar market analysis from 2020 to 2030 to identify the prevailing airborne fire control radar market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the airborne fire control radar market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global airborne fire control radar market trends, key players, market segments, application areas, and market growth strategies.
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Davin Correa
Allied Market Research
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