The global airborne fire control radar market size is set to exhibit massive growth based on the rising investments by leading economies for strengthening their defense systems. Fortune Business Insights™ supplies this information in its report, titled “Airborne Fire Control Radar Market, 2021-2028.”
According to the latest data from the Stockholm International Peace Research Institute (SIPRI), global military expenditure reached almost USD 2 trillion in 2020, rising 2.6% from 2019 levels. The top spenders, as per SIPRI, were the US, China, India, Russia, and the UK. The main purpose behind this startling increase in defense spending is the modernization and advancement of military infrastructure and arsenal by major economies. Airborne fire control radar solutions form a critical component of a country’s air force and the growing allocation of resources to the defense sector will ensure wider adoption of such systems. Furthermore, new emerging conflicts and political disagreements between countries have bolstered the demand for superior and technologically enhanced weapon systems.
Impact of COVID-19
Because of the escalation of tension in the borders of several regions, countries have adopted measures to boost their defense systems, even amid the COVID-19 pandemic, according to SIPRI. Air-based fire control technologies have been extensively used in the aerospace sector to enhance detection efficiency and protect borders. Thus, despite new government regulations and reduced capacity, the airborne fire control radar market growth is expected to be stable in the foreseeable years.
Based on frequency band, the market is segmented into S-band, X-band, and Ku/k/ka band. On the basis of platform, it is segregated into military aircraft and military helicopters. Geographically, it is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report analyses the leading segments and the latest trends of the market. It comprehensively discusses the impact of COVID-19 and the drivers and restraints of the market. Additionally, it observes the regional development and the strategies undertaken by key players in the market.
List of Key Players Covered in the Airborne Fire Control Radar Market Report
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Saab AB
- Israel Aerospace Industries Ltd
- Raytheon Technologies Corporation
- BAE Systems
- General Dynamics Corporation
- Leonardo S.p.A
- Thales Group
Drivers and Restraints
Development of Cutting-Edge Air-based Systems to Positively Impact the Market
The technological enhancements in the active electronic scanning array (AESA) radar detection systems can identify targets more efficiently. The system is utilized for military applications because of its resilience against electronic congestions. For example, Northrop Grumman Corporation is a significant seller of radar detection systems in its F-35 Lightning II and F-22 Raptor flying jets. This technologically advanced airborne fire control radar system is being widely demanded by various defense services. The development of such sophisticated tools is thus driving the growth of this market. However, the ever-rising concerns of cyber warfare and the inability of the system to detect low observable technology that prevents the aircraft from being detected in radars are expected to hamper the market growth.
Prominence of Major Players in North America to Elevate Market Growth
North America is expected to lead the airborne fire control radar market share during the forecast years because of the presence of several crucial aerospace & defense companies in the region, such as Lockheed Martin Corporation, Raytheon Technologies Corporation, and Northrop Grumman Corporation. The humongous number of military aircraft careers in the US is embedded with radar technology and nurturing market growth in the region.
The increasing budgetary allocation to the defense sector in the Asia Pacific region for boosting the air force and military systems is attributable to the intensifying border disputes between India and China. Further, the dynamic relations of other countries with China are expected to boost the demand for airborne fire control radar systems.
Key Players to Devise Strategies to Mark Significant Market Position
Strategies such as joint ventures have enabled companies to gain contracts from national defense forces. For example, Northrop Grumman Corporation and Lockheed Martin Corporation entered a joint venture in February 2020 to secure a contract worth USD 235.8 million from the US Military to deliver exceptional post-adoption services for AH-64E Apache Helicopter. In addition, key players have developed innovative features for airborne fire control radar systems for tracking the movement of missiles automatically. Moreover, the companies have incorporated modular designs for attracting demand and marking considerable brand position in the market.
September 2020: The US army rewarded Longbow LLC with USD 165 million for providing the Netherlands, the Indian military, Morocco, and the UAE with an AH-64E Apache helicopter powered by the 78 LONGBOW Fire Control Radar (FCR) systems.