The global military radars market is expected to grow with a CAGR of 6.0% from 2024 to 2030

CITY, Country, 2023-Sep-28 — /EPR Network/ —

According to a market report by Lucintel, the future of the global military radars market looks promising with opportunities in the air and missile defense, intelligence, surveillance, and reconnaissance (ISR), navigation and weapon guidance, and space situational awareness markets. The global military radars market is expected to reach an estimated $20.6 billion by 2030 with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are growing demand for low-cost and miniaturized radars, increase in investment to enhance air defense capabilities and rising purchase of combat aircraft in the developed countries.

In this market, ground-based, naval, airborne and space are the major segments of military radars market by platform.

Lucintel forecasts that airborne is expected to witness highest growth over the forecast period.

Within this market, intelligence, surveillance, and reconnaissance (ISR) will remain the largest segment.

APAC is expected to witness highest growth over the forecast period.

Raytheon Technologies Corporation, Lockheed Martin Corporation, Israel Aerospace Industries, Northrop Grumman Corporation, and Leonardo are the major suppliers in the military radars market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1–972–636–5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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