Military Radars Quelling the Storm to Reach USD 22.58 Billion By 2030
- The military radars market is projected to register a CAGR of 5.15%, reaching USD 22.58 billion by 2030.
- Growing defense expenditures, increasing deployment of stealth aircraft and hypersonic missiles, and focus on the next-generation radar systems are expected to be the main drivers for the market.
- The Asia-Pacific region is estimated to grow with the highest CAGR of 5.8% during the forecast period.
Read our related report on: Surveillance Radar Market
Airborne wheels off to reach new heights
- The airborne segment of the military radars market is forecasted to reach USD 4.4 billion in 2030, witnessing a CAGR of 5.98% during the forecast period (2021-2030).
- Airborne radars are typically used for weather monitoring and ISR (Intelligence, Surveillance, Reconnaissance) Operations by the global armed forces.
- In July 2021, Thales Canada was awarded a USD 186 million contract to supply and maintain the tactical radars used for CF-18 combat aircraft operations. The contract has provisions for the delivery of three such systems for USD 154 million, while the remaining USD 34 million is meant to provide support for the radar systems over the next five years.
Latest advancements in military radar quadrant
- In July 2021, HENSOLDT entered into corporation with Israel Aerospace Industries (IAI) to supply new radars to the German Armed Forces to modernize their airspace surveillance and build up Ballistic Missile Defence (BMD) capabilities. The Federal Office of Bundeswehr Equipment, Information Technology, and In-Service Support (BAAINBw) ordered for four long range radars of worth approximately EUR 200 million as a part of the Hughes Air Defence Radar Nachfolgesystem (HADR NF) program.
- In May 2021, Saab received an order worth approximately SEK 400 million from Panavia Aircraft GmbH to upgrade the radar warning equipment onboard Tornado aircraft operated by the German Air Force.
- In April 2021, the Shipboard Air Traffic Radar program of US Navy in Low-Rate Initial Production (LRIP) awarded an LRIP option for three of Saab’s AN/SPN-50(V)1 radar systems. The order for the LRIP phase two contract was worth USD 37.1 million, with the first delivery scheduled for 2022.
Key Strategies across the globe
- The Dutch Ministry of Defense announced its plans in December 2019 for the procurement of four new submarines. The government is currently evaluating its options between Naval Group, Saab Kockums, and ThyssenKrupp Marine Systems. The contract is expected to be signed in 2022, and delivery is planned during 2027–2031.
- As of August 2021, the Polish government is currently short-listing naval vessel manufacturers like Navantia for Technology Transfer (ToT) program of Poland. Under the program, the selected company will manufacture three coastal defense frigates. The government plans to invest about EUR 115 billion by 2035 and construct new frigates at the local PGZ naval shipyard in Gdynia.
- In August 2021, the Russian Defense Ministry approved the Su-30SM upgrade program to the SM2 variant (Super Sukhoi). The Super Sukhoi will feature enhanced engines, radars, and smart weapons. The modernization of the first prototype is planned to begin in December 2021.
