Global Early Warning Radar Market is valued at approximately USD XXX million in 2019 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2020-2027. The early warning radar is a type of system which is used to identify long-range targets, that allows the army or defense forces to be early informed as possible before an assailant beats a target. It often provides the utmost time to air defense units to operate and retaliate the battle. These devices are mainly utilized to track weapons that tend to provide shorter ranges although offering better precision. Early warning radars, with cameras, are being applied with an ultrasonic frequency that retains an image processing to deliver higher security at national borders. Therefore, the need for advanced situational awareness and information dissemination abilities are driving the demand for early warning radar around the world. Moreover, growing demand for latest generation air and missile defense systems, coupled with the rapidly increasing aerospace & defense expenditure in developed & developing country are few other factors responsible for the market growth over the forecast period. According to the Stockholm International Peace Research Institute (SIPRI), the global military expenditure rose to USD 1822 billion in 2018, approximately an increase of 2.6% from 2017 (USD 1739 billion). Similarly, as per the World Bank Organization, the U.S military expenditure was around 3.2% of total GDP in 2018, up from 3.1% of the country’s GDP from 2017. This, in turn, is likely to leverage the growth of the global early warning radar market.. Amidst the COVID-19 crisis throughout the world, the demand for early warning radar is likely to increase due to the sudden attacks by the assailant in other countries is also widens. For instance, in June 2020, Chinese troops have attacked India in which 20 Indian soldiers died and 76 injured. This is the worst violence during the pandemic between China and India for 45 years. Therefore, such incidents would create a higher deployment for early warning radar, thereby, aiding the market growth. However, the high expenses concerned in upgrading early warning radars is one of the major factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Early Warning Radar market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing investments in the aerospace & defense sector, along with the presence of significant manufacturers of early warning radar in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the high investments in R&D activities by manufacturers and the growing defense budget by the government would create lucrative growth prospects for the Early Warning Radar market across the Asia-Pacific region.
Major market player included in this report are:
BAE Systems PLC
Elbit Systems Ltd.
Lockheed Martin Corporation
General Dynamics Corporation
The Raytheon Company
Ultra Electronics Holdings
General Electric Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Early Warning Radar Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers