Northbrook, IL -- (SBWIRE) -- 10/07/2021 -- The airborne radars market is projected to grow from USD 4.1 billion in 2020 to USD 6.0 billion by 2025, at a CAGR of 8.0% from 2020 to 2025. Some of the factors that are expected to fuel the growth of the airborne radars market include the increasing focus on obtaining precise intelligence during airborne surveillance to support decision making process.
Based on component, the digital signal processor segment is projected to grow at the highest CAGR during the forecast period
The growth in the airborne radars market is expected to drive the growth of these different components proportionately. The requirement of advanced radar systems, as well as upgradation and modernization of conventional radar, will help grow the market for radar components. Thus, the growth rate of multiple components, such as transmitters, receivers, and power amplifiers, is expected to be in a similar range during the forecast period.
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Based on platform, the UAVs segment is projected to grow at the highest CAGR during forecast period
Based on platform, the UAVs segment is projected to grow at the highest CAGR during forecast period. The demand for sophisticated airborne radars to support airborne surveillance activities through UAVs by several defense organizations is driving the UAVs segment growth globally.
Based on technology, the software-defined radar (SDR) segment is projected to grow at the highest CAGR during forecast period
Growing demand for versatility of airborne radar in processing various tasks, such as signal generation, filtering, up and down conversion, etc., through software is driving the growth of this segment. Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Leonardo SpA (Italy) and BAE Systems (US) are some of the major players that offer technologically advance airborne radars.
The airborne radars market in Asia Pacific is projected to grow at the highest CAGR from 2020 to 2025
The Asia Pacific airborne radars market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific airborne radars market is primarily driven by increasing focus on modernization of existing military systems by major economies in this region. In addition, factors including increasing geopolitical tensions and increased defense related expenditure are expected to drive the demand for airborne radar in the region.
The global airborne radars market is dominated by a few globally established players such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), Hensoldt AG (Germany), Leonardo SPA (Italy), BAE Systems (UK), Israel Aerospace Industries (Israel), Saab AB (Sweden), Aselsan (Turkey), Elbit Systems (Israel) and L3Harris Technologies (US).