Radar Simulators Market Trends

Statistics for the 2023 & 2024 Radar Simulators market trends, created by Mordor Intelligence™ Industry Reports. Radar Simulators trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Radar Simulators Industry

Military Segment to Witness Significant Growth During the Forecast Period

Geopolitical tensions drive a focus on technological superiority, giving rise to technological leapfrogging. Asymmetric threats, like unconventional warfare and cyber-attacks, are pushing nations to adopt more adaptive defense strategies.

Amid escalating threats, countries prioritize enhancing their military capabilities. This has led to a surge in military programs, primarily focusing on upgrading existing capabilities. Nations are directing substantial investments through indigenous development or global procurement to bolster their military prowess. Notably, this uptick in investment is largely propelled by the rising defense expenditures.

For instance, in July 2023, Adacel and SkyWarrior clinched a USD 7 million deal to supply US military simulators. Adacel Technologies and SkyWarrior Flight Training collaborate to equip the US military with cutting-edge systems. These will replace the existing Advanced Tower Simulator and Army Flight Radar Training Simulator, a move under the Flight School Training Support Services (FTSSS) program. Such developments will drive the demand for the military segment during the forecast period.

Radar Simulators Market: Defense Expenditure, in USD billion, by Region, 2023

Asia-Pacific to Witness Highest Growth During the Forecast Period

Robust economic growth, coupled with favorable population and demographic profiles in developing countries, especially in the Asia-Pacific region, is driving air passenger traffic in the region. Thus, Asia-Pacific is expected to generate the highest demand for radar systems during the forecast period.

The demand is mainly due to the increasing orders and deliveries of new aircraft, propelled by the region's ever-growing passenger traffic. By 2030, China and India are forecasted to become the world's largest aviation markets in terms of air traffic, while other countries, such as Indonesia and Thailand, are forecasted to enter the top 10 global markets.

Furthermore, regional military powerhouses, such as China, India, and Japan, invest significant resources in developing their aerial capabilities, including upgrading their existing radar technologies. The Asia Pacific region collectively spent USD 595 billion on defense in 2023, a 4.4% increase from the previous year. This growth was primarily driven by heightened military investments in China and its neighboring nations. Japan's 2023 military budget was particularly significant, signaling its most substantial military build-up since World War II. With a focus on bolstering its counterstrike capabilities, Japan plans to allocate USD 310 billion to its military between 2023 and 2027, averaging USD 62 billion annually. Such favorable trends are anticipated to drive the demand for radar simulators in the region.

RADAR Simulators Market: Market CAGR (%), By Region, Global, 2024-2029

Radar Simulators Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)