Military radar systems market to grow 32% by 2030: reportNews
December 01, 2022
DUBLIN, Ireland. The global military radar systems market will experience rapid growth between now and 2030, increasing from $10.9 billion in 2022 to $16 billion by 2030, a new report predicts.
The Research and Markets report states that North America currently has the largest share of market value in military radars at $4.13 billion, but the Asia-Pacific region is the fastest-growing, with China and India leading the way.
Air platforms account for 40% of market value, and it is also the fastest-growing segment of the market, the report states.
Some of the major players in the market include BAE Systems, Ball Aerospace, Collins Aerospace, Dassault Aviation, Elbit Systems, General Atomics, General Dynamics, Hensoldt, Honeywell International, L3Harris, Lockheed Martin, Mercury Systems, Northrop Grumman, QinetiQ, Raytheon, Saab, Teledyne FLIR, and Thales Group.