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Global Airborne Fire Control Radar Market to Grow at a CAGR of 3.80% During 2022-2027, Aided by the Rising Application of Airborne Fire Control Radar in Military and Defense Industry

According to a new report by EMR titled, ‘Global Airborne Fire Control Radar Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 3.1 billion in 2021. The industry is further expected to grow at a CAGR of 3.80% between 2022 and 2027 to reach USD 3.9 billion by 2027.

The rising application of airborne fire control radars in the military and defence industry owing to the increasing risk of military confrontations and conflicts is driving the market growth. Airborne fire control radars, in the forecast period, are anticipated to witness a significant demand owing to the growing use of military aircraft and helicopters for search, rescue, and surveillance operations. The increased expenditure by the leading industry players such as Northrop Grumman Corporation (NYSE: NOC) to develop advanced aircraft technology is anticipated to aid the market. In addition to this, the growing adoption of active electronically scanning array (AESA) technology in fighter jets is likely to propel the demand for airborne fire control radars in the forecast period. In February 2021, Hindustan Aeronautics Limited (NSE: HAL) announced the installation of ELTA sourced AESR technology in the Jaguar Darin III fighter jets. The ELTA radar is known to be highly efficient for the air-to-air attacks.

In terms of region, the Asia Pacific is likely to witness a steady growth in the forecast period owing to the rising military spending in the emerging economies of the region including India and China. The growing efforts by the Indian government, such as the Make in India initiative, aimed towards enhancing the indigenous manufacturing capabilities of defence equipment in the country are anticipated to augment the market in the forecast period.

Market Breakup by Frequency Band and Region:

  • The market is segmented based on frequency band into X-band, S-band, and Ku/K/Ka-band.
  • Region-wise, the global market for airborne fire control radar can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for airborne fire control radar is being driven by the rising demand for military aircraft for search, rescue, and surveillance operations.
  • The rising military expenditure across the globe is likely to provide a boost to the market growth in the forecast period.
  • In addition to this, the rising geopolitical tensions and border conflicts are anticipated to augment the market growth.
  • The market is estimated to be further aided by the growing efforts by the major defence and aerospace companies to develop and enhance the radar technology.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for airborne fire control radar for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the frequency bands and regions of airborne fire control radar.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global airborne fire control radar market are Northrop Grumman Corporation, Lockheed Martin Corporation, BAE Systems PLC, Raytheon Company, General Dynamics Corporation, and Airbus SE, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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