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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.
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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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