Market Research Report
Long Range Radar Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||964542|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|Long Range Radar Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: August 1, 2020||Content info: 80 Pages||
The long range radar market is expected to exhibit a growth rate of more than 4% during the forecast period.
Naval Radars To Exhibit The Highest Growth Rate
Major military spenders such as United States and Europe based NATO nations are significantly investing in the development of new naval vessels. Development projects such as European Corvette program, FFG(X) frigate development, etc. are expected to drive the market growth for sea-based long range radars. United States Navy plans to induct 46 new vessels to its naval fleet by 2023 and 20 FFG(X) next generation frigates by 2030. This aforementioned factor is expected to propel the market growth for naval long range radars owing to the plans for equipping these vessels with advanced C4ISR and battle management systems. In 2020, United States Navy started the integration of Raytheon AN/SPY-6 radar systems on its Arleigh Burke Flight III Class destroyers. The AN/SPY-6 radar will equip the navy with enhanced sensitivity to discriminate threats such as cruise and ballistic missiles, aircraft from friendly assets. The Enterprise Air Surveillance Radar is currently under development and its expected to replace long range, 2 dimensional, L-Band AN/SPS-49 radar systems for United States navy's aircraft carriers. In October 2019, The Royal Navy tested its long range radar to track two typhoon aircraft from HMS Prince Of Wales, a Queen Elizabeth class of aircraft carrier which is currently undergoing sea trials. The aforementioned developments are expected to significantly drive the market demand for naval long range radars during the forecast period.
Asia-Pacific To Exhibit The Highest Growth Rate
Asia-Pacific region is home to major military powers such as India, China, Australia, South Korea, Japan, etc. which account for a major share in total global military spending. The rise in border conflicts, air space violations by several nations, tensions in the South China Sea and pacific ocean, the development of the hypersonic ballistic missiles, etc. are propelling the demand for advanced long range surveillance and tracking systems in the region. China is heavily investing in the modernization and upgradation of its navy and air force. In 2019, China gave a significant boost to the reconnaissance and combat capability of its J-11B fighter by equipping it with new-long range radar. China is significantly driving its radar technology capabilities by investing in the research and development of pulsed meter wave long-range networked radars that assist in targeting stealth aircrafts such as F-35. China has also supplied its JY-27 phased array three-dimensional long range radar to Pakistan's Type 054A frigates manufactured by China. In January 2020, Japan became one of the four countries to select Lockheed Martin's AN/SPY-7(V)1 Solid State Radar (SSR) (based on Long Range Discrimination Radar) which is equipped with next-generation ground-based and maritime advanced radar technologies. Asia-Pacific countries such as South Korea, Japan and Australia have included fifth generation F-35 aircraft in their defense fleet and Japan is already planning to manufacture the aircraft domestically. This factor is expected to drive the demand for airborne long range radar systems (installed in F-35) in the region. Such developments and procurements are propelling the growth of long range radars in the region.
The Long Range Radar Market is a moderately consolidated one with players such as HENSOLDT Holding Germany GmbH, BAE Systems PLC, Leonardo S.p.A, Lockheed Martin Corporation, Thales Group, etc. dominating the market. Market players are expected to enjoy good growth in terms of revenue owing to the growth in demand for Intelligence, Surveillance, and Reconnaissance systems across the world. The governments and defense agencies are investing heavily in the modernization and expansion of their existing defense capabilities by building stealth aircraft, highly advanced naval vessels, and land-based reconnaissance systems, thereby providing orders and contracts to the domestic and global market players for long-range radars.