The global airborne fire control radar market size is expected to showcase exponential growth by reaching USD 3,866.4 million by 2028 while exhibiting a CAGR of 4.73% between 2021 and 2028. Fortune Business Insights in its latest report, titled “Airborne Fire Control Radar Market, 2021 -2028.”, mentions that the market stood at USD 2,655.4 million in 2020. Factors such as the increasing demand for target detection equipment and the growing adoption of advanced technologies such as active electronically scanning arrays (AESA) will boost the adoption of the product worldwide.
The airborne fire control radar market is growing at a significant pace due to the increasing demand for advanced radar systems that can accurately detect and track targets in various weather conditions. based attacks.These radar systems are capable of detecting targets at long ranges and providing high-resolution images of the target area.The market is driven by the increasing defense spending of various countries and the need to upgrade existing aircraft fleets with advanced radar systems. The development of lightweight and compact radar systems that offer improved performance and reliability has further boosted the demand for airborne fire control radar systems.D to develop advanced radar systems that meet the growing demand for military applications. Overall, the airborne fire control radar market presents significant growth opportunities for businesses looking to expand their presence in the defense industry.
Market Segmentation:
On the basis of platform, the fighter jets segment held the largest global airborne fire control radar market share during the forecast period.
On the basis of frequency band, the market is trifurcated into L & S-band, X-band, and KU/K/KA band. and Air to Ground. Lastly on the basis of region, the market is categorized into South America, the Middle East and Africa, North America, Asia-Pacific, and Europe.
What does the Report Include?
The market report provides a detailed qualitative and quantitative analysis of the market and focuses on crucial aspects such as materials, leading companies, applications, and products. Also, the report offers insights into latest trends and highlights key industry developments. data & forecasts revenue growth at global, regional, and country levels and analyzes the industry's latest dynamics and opportunities that will impact the market growth between 2021 and 2028.
DRIVING FACTORS
Increasing Demand for Reconnaissance and Targeting Activities to Promote Market Growth
The rising intrusion activities and the growing focus on upgrading their militaries by countries worldwide will boost the demand for advanced technologies for reconnaissance and targeting activities. Moreover, the increasing focus on accurate target detection and handling crucial missions is leading to the development of advanced radar systems For instance, Israel Aerospace Industries Ltd has developed reconnaissance and targeting ELM-20600 RTP POD that efficiently detects, classifies, and precisely tracks and selects ground targets.The increasing adoption of active electronically scanning array (AESA) technology that provides high reliability and low interception rate is further expected to bode well for the global airborne fire control radar market growth in the forthcoming years.
Information Source: https://www.fortunebusinessinsights.com/airborne-fire-control-radar-market-104048
REGIONAL INSIGHTS
North America – The region stood at USD 891.41 million in 2020 and is projected to hold the highest position in the market during the forecast period. , and Lockheed Martin Corporation in the region.
Europe – The market in the region is expected to showcase exponential growth backed by the growing demand for advanced airborne fire control radar systems by the Air Force of countries such as the UK and Germany between 2021 and 2028.
Asia-Pacific – The increasing focus on the procurement of advanced 5th Generation fighter jets by China is expected to propel the product's adoption in the region. Moreover, the surging demand for innovative UAVs is likely to contribute to the regional growth in the forthcoming years.
COMPETITIVE LANDSCAPE
Contract Signing by Major Companies to Strengthen Their Market Positions
The market is witnessing a fierce competition amongst the major companies operating in it. These companies are focusing on signing lucrative contracts to expand their airborne fire control radar portfolio. Moreover, other key players are striving to maintain their presence by adopting strategies such as merger and acquisition , partnership, and collaboration that will favor the growth of the market in the forthcoming years.
Industry Development:
February 2021 - Hindustan Aeronautics Limited (HAL) announced the installation of the ELTA-sourced active electronically scanning radar in the Jaguar Darin III fighter jets. The company reports that the radar is primarily designed for air-to-air attack and provides solid-state active electronically scanning array technology.