Airborne fire control radar market projected to reach $4.4 billion globally by 2030 at a CAGR of 6.2%: Allied Market Research
Increasing implementation of Active Electronic Scanning Array (AESA) technology, rise in proliferation of fighter aircraft to improve airpower and increase in spending on military activities are driving the growth of the global airborne fire control radar market.
PORTLAND, Ore., April 21, 2022 /PRNewswire/ — Allied Market Research released a report titled “Airborne Fire Control Radar Market by Frequency Band (X-Band, L- and S-Band, Ku/K/Ka-Band), by Platform (Warplanes, Helicopter Gunships, Others), by Application (Air To Ground, Air To Sea, Air To Air) : Global Opportunity Analysis and Industry Forecast, 2020-2030According to the report, the global Airborne Fire Control Radar industry generated $2.5 billion in 2020 and is expected to be generated $4.4 billion by 2030, witnessing a CAGR of 6.2% from 2021 to 2030.
Main determinants of growth
Increasing use of Active Electronic Scanning Array (AESA) technology, increasing deployment of fighter aircraft to improve air strength and increase in military spending in numerous countries are driving the growth of the global airborne fire control radar market. However, high maintenance costs are hampering the market growth. On the other hand, technological progress and the increasing demand from emerging countries to resolve territorial conflicts will offer new opportunities in the coming years.
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The outbreak of the COVID-19 pandemic has negatively impacted the growth of the global airborne fire control radar market due to the implementation of a worldwide lockdown that resulted in supply chain disruptions, the temporary closure of manufacturing facilities, the unavailability of labor, and so on continue.
However, the market will soon recover in 2022.
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That 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 almost half of the global airborne fire control radar market and is estimated to maintain its leading position during the forecast period. These types of radars are typically suited to military applications such as interceptors, fighter jets and helicopters, which in turn acts as a driver for the segment. Moreover, the Ku/K/Ka Band segment is projected to register the highest CAGR of 7.8% from 2021 to 2030. The increasing demand for high-resolution, short-range targeting radars in military aircraft supports the growth of this segment.
The air-to-ground segment is projected to maintain its leading position during the forecast period
Based on application, the air-to-ground segment accounted for the largest share in 2020, contributing almost half of the global share Airborne fire control radar market, and is expected to maintain its leading position during the forecast period. This is because developed nations like the US have launched several research and development programs to advance technologies to develop advanced air-to-surface fire control radar. However, the air-to-air segment is expected to show the largest CAGR of 8.2% from 2021 to 2030, driven by increasing airborne threats and military investments fueling the growth of air-to-air fire control radar systems .
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North Americato maintain its dominance through 2030
Based on region, North America, held the highest market share in terms of revenue in 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 participants and high military spending. Besides the Asia Pacific Region is expected to experience the fastest CAGR of 7.7% over the forecast period. Increasing security concerns, escalating territorial conflicts and an increase in R&D activities are supporting the growth of this region.
Leading Market Players
Bharat Electronics Limited
Israeli aerospace industry
Lockheed Martin Corporation
BAE Systems Plc
Northrop Grumman Corporation
Raytheon Technologies Corporation
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