Air and Missile Defense Radar Market worth 12.52 Bn USD by 2021
The report, now available on ASDReports, "Air and Missile Defense Radar Market by Range (Short, Medium, Long & Strategic System), Application (Ballistic Missile Defense, Conventional), Platform (Ground Based, Naval, Airborne) & by Region - Global Forecast to 2021", The air and missile defense radar (AMDR) market is estimated to be valued at USD 8.79 Billion in 2016 and is projected to reach USD 12.52 Billion by 2021, at a CAGR of 7.34% from 2016 to 2021.
Ground-based radar segment expected to be the major contributor to the overall AMDR market
Ground-based AMDRs are used to get real-time information in warfare situation. They are used along with airborne, naval, and satellite platform radars for target integration. It is a missile detection radar, positioned on the ground and is used for air defense through ground-controlled interception, command guidance, along with ground-directed bombing, air traffic control, instrument landing systems, and radar bomb scoring. Defense budget cuts in developed economies shifted the focus towards automation, and miniaturization of military radar system. Ongoing war against ISIS in Syria, Al-Qaeda in Afghanistan, and conflicts in the Crimean Peninsula are driving the demand for ground-based military radar.
Air and Missile Defense Radar (AMDR) Market - Global Forecast to 2021
Long range and strategic system segment to register the highest growth
Long range and strategic system AMDR market is expected to dominate the AMDR market during the forecast period. These system have range up to 100 kilometers, while strategic systems are used for the range more than 100 kilometers. These systems are used against conventional and ballistic missile targets. LRSAM is an example of long range AMDR system. High demand for ballistic missile defense system is expected to drive the market for long range and strategic system AMDR market. Joint efforts from the U.S. and South Korean government to develop the missile defense system in South Korea, similarly, India and China’s efforts towards the development of indigenous missile defense system is expected to drive the AMDR market. Nevertheless, disputes between countries in the Asia-Pacific and the Middle East are expected to drive the market for short range AMDRs.
Asia-Pacific region to witness highest growth in AMDR market during the forecast period
In 2016, Asia-Pacific is expected to have the third largest share in the global AMDR market with the highest CAGR during the forecast period. Existence of inter-country conflict over the disputed area of South China Sea is a major factor that compelling the authorities to increase naval surveillance capabilities in the affected region. Border issues among countries is making them to strengthen their defense system, which is driving the market for AMDRs.
On the other hand, the Brazilian Army is also spending huge amounts over sensors and remote sensing and command & control systems for defense that is driving the radar market in the country.
The key global players in the AMDR market are Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Raytheon Company (U.S.), SAAB Group (Sweden), and Thales Group (France).
The report provides a detailed information and forecasts the AMDR market on the basis of platform (ground-based, naval-based, Airborne), application (ballistic missile defense, conventional), range type (long range & strategic systems, medium range, short range), and geographic regions (North America, Europe, Asia Pacific, Middle East & Africa, Rest of the World).
Source : ASDReports - Market Research - view original press release