Pune, India -- (SBWIRE) -- 07/20/2018 -- Air and Missile Defense Radar System Market To Project Noteworthy Expansion At A CAGR Of 7% During 2017-2023

Market Scenario:

Market Research Future (MRFR) has recently published a report on the global air and missile defense radar (AMDR) system market asserting that the market is anticipated to expand at a noteworthy CAGR of 7% during the forecast period of 2017-2023.

The advent of advanced airborne radar and development of long-range tracking systems has led to rapid technological advancement in the air and missile defense radar systems. The increasing geopolitical imbalance and territorial conflicts among various countries are inducing great demand for the incorporation of advanced surveillance and defense strategies. The air and missile defense radar system plays a vital role in real-time detection and tracking of unauthorized aircrafts, ships, land-based vehicles as well as ballistic missiles.

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The service provided by the AMDR system as an early warning medium to track down approaching missiles and wide area surveillance are resulting in the augmented adoption of AMDR system in the defense sector, leading to the expansion of the global air and missile defense radar system market. These radar systems are equipped with built-in algorithms that facilitate the high- resolution detection of moving objects like crawling and marching soldiers, combat vehicles, mini-helicopters, and others, hence, the defense sectors in various regions are adopting this technology in order to strengthen their defense strategies against territorial threats.

The increasing incorporation of advanced battlefield surveillance radars for maritime surveillance and to support naval combat operations is propelling the expansion of the global air and missile defense radar systems market. However, the high cost of these radars limits their deployment in the active war zones, which is likely to act as a restraint on the growth of the global AMDR system market during the forecast period.

Key Players

The leading players of the global Air and Missile Defense Radar System Market are Airbus Group (Netherlands), Almaz-Antey (Russia), BAE Systems Inc. (U.K.), Leonardo S.p.A (Italy), General Dynamics (U.S.), Israel Aerospace Industries Ltd (Israel), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Raytheon Company (U.S.), Reutech Radar Systems (South Africa), SAAB Group (Sweden), and Thales Group (France).

Competitive Landscape:

The increasing research and development expenditure for new product launch is strengthening the competition in the global air and missile defense radar systems market.

On 22nd June 2018, China Electronics Technology Group Corporation (CETC), China's leading military electronics company, has announced the launch of the latest quantum radar that could help detect stealth planes and missiles.

On 13th July 2018, the U.S. state department has approved the sale of up to 200 radar-guided Raytheon AIM-120D medium-range air-to-air missiles for an approximately USD 650 Mn to the United Kingdom. The state department has also approved the sale of 28 AIM-120 C-7 medium-range air-to-air missiles for around USD 90 Mn to Denmark on 10th July 2018.

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Market Segmentation:

The global air and missile defense radar system market has been segmented on the basis of range, application, and platform. Based on range, the AMDR system market is segmented into short range, medium range, and long range. The long-range AMDR system segment is projecting fastest growth in the global air and missile defense radar system market owing to the increasing demand for this system as it provides the range limit of 100 kilometers.

Based on application, the AMDR system market is segmented into ballistic missile defense and conventional. The ballistic missile defense segment is anticipated to project the highest growth rate during the forecast period.

Based on platform, the AMDR system market is segmented into land-based, naval and airborne. Among these platforms, the land-based platform segment is projecting fastest growth due to its wide application in ground mapping, intrusion detection and missile tracking for strengthening the defense sector and homeland security.

Regional Analysis:

Geographically, the global air and missile defense radar market is segmented into five major regions such as North America, South America, Europe, Asia Pacific, and the Middle East and Africa. The North America region is anticipated to dominate the global air and missile defense radar market during the forecast period due to the increasing demand for air surveillance systems by the U.S. military. The Asia Pacific region accounts for the second largest share in the global air and missile defense radar system market due to the increasing investment in border security in this region.

The air and missile defense radar system market in the South America region is growing at a significant pace owing to the increasing expenditure by the Brazilian army over remote sensing, sensors, and command and control systems for defense.

The high requirement of advanced technology to strengthen the defense sector in other regions of the world is propelling the expansion of the global air and missile defense radar systems market.

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Scope Of Report

The report for Global Air and Missile Defense Radar System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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