Airborne fire control radar market is expected to garner $3,455 million by 2022, registering a CAGR of 3.9% during the forecast period 2016-2022. The base year considered for the study is 2015 and the forecast years range from 2016 to 2022. In the coming years, the regional instability is expected to cause future conflicts, which increases the concern for security at various nations border.
Developing countries invest heavily in defense equipment/tools in to attain a competitive edge over the opponents. Furthermore, the increase in automation in security and surveillance radar technology enables the countries to improve their airborne military infrastructure. Fire control radar is used as a weapon control radar that estimates the position (coordinates) of a target and informs the fire control systems installed on the missiles. A typical airborne fire control radar includes a high pulse repetition frequency and a narrow beam width to achieve greater accuracy and location of the desired target.
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Major Market Players:
• Lockheed Martin Corporation
• BAE Systems PLC
• Raytheon Company
• Northrop Grumman
• Thales Group
• Airbus Group
• General Dynamics Corporation
• Saab AB
• Israel Aerospace Industries Ltd
Factors that drive the growth of the global airborne fire control radar market include the rise in military spending across developing as well as developed countries for airborne infrastructure, adoption of active electronically scanned array (AESA)-based systems, and automation of defense and surveillance radar systems. However, the increase in cyber warfare and incapability of radar to detect stealth technologies affect the market growth during the forecast period.
Top Impacting Factors of World Airborne Fire Control Radar Market
Adoption of AESA-based Systems
Radar has been extensively used by the defense industry after the Second World War and currently is among the crucial component in military communications. The radar technology has experienced huge advancements in the recent years, resulting in increased flexibility of the tools. This has also resulted in the development of AESA in the airborne fire control radar systems. These types of phased array radar systems show high precision, easing the tracking of the target by airborne fire control radar.
Increase in Security Concerns
Territorial conflict is the major challenge faced by Asia-Pacific and Middle East & Africa. These conflicts are due to political and economic interests, normative reasons, and struggle over scarce natural resources. This leads to countries securing their borders with effective technologies through air, water, and land, which is expected to give rise to the demand for such systems worldwide. This, in turn, is projected to increase the airborne fire control radar market share in terms of revenue by 2022, as compared to that in 2014.
Rise in Military Spending
The military spending across various developed as well as developing countries has increased significantly in the past few years. According to Stockholm International Peace Research Institute (SIPRI) 2016 Fact Sheet, U.S., China, Saudi Arabia, Russia, UK, and India were among the top countries to spend large percentage of their GDP on military expenses.
The top impacting factors that influence the market growth include the adoption of AESA-based systems, the rise in military spending for airborne, growth in border security concerns, increase in automation in security and surveillance radar systems technology, and ongoing R&D activities. The increase in adoption of AESA-based systems in the airborne fire control radar is a major top impacting factor. The AESA-based airborne fire control radar can operate in different frequency bands, enabling efficient tracking of the targets at one time. Therefore, the transition of technology towards AESAs would increase the demand for fire control radar in the future. However, factors such as the rise in cyber warfare and incapability of such radar to detect stealth technologies within the range are expected to hamper the market growth.
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