At 3.7% CAGR, the Europe Air Defense Radar Market is Projected to be Worth US$ 1,920.51 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe air defense radar market was valued at US$ 1,433.41 million in 2022 and is expected to reach US$ 1,920.51 million by 2030, registering a CAGR of 3.7% from 2022 to 2030. Rise in number of contracts for supply of air defense radar and continuous rise in defense spending are among the critical factors attributed to the Europe air defense radar market.       

Changing modern warfare systems have been urging governments across the world to allocate higher funds toward respective military forces. The military budget allocation enables defense forces to procure advanced technologies and equipment from domestic or international manufacturers. On the same lines, soldier and military vehicle modernization practices are on the rise across numerous countries. With the need to strengthen military forces with advanced technologies, armaments, artilleries, and vehicles, among others, defense forces across the globe are investing substantial amounts in the products mentioned above. A continuous urge to procure new technologies for combat and noncombat operations by defense forces is further boosting defense spending across the world. According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose to US$ 2,148 billion in 2022, representing a 3.5% increase from 2021.

Growing defense expenditure is stimulating the procurement of modern warfare technologies such as unmanned vehicles, lightweight radars, missile detection systems, and surveillance systems. Moreover, a higher defense budget allows countries to allocate resources for the modernization and upgrade of their existing air defense systems. This includes the replacement or enhancement of outdated radar systems with more advanced and capable ones.

On the contrary, threat of jamming and spoofing hampers the Europe air defense radar market.  

Based on function, the Europe air defense radar market is segmented into synthetic aperture radar and moving target indicator radar, surveillance radar, airborne early warning radar, multi-functional radar, weather radar, and others. The synthetic aperture radar segment held 30.4% share of Europe air defense radar market in 2022, amassing US$ 436.05 million. It is projected to garner US$ 553.53 million by 2030 to expand at 3.0% CAGR during 2022–2030.

Based on range, the Europe air defense radar market is segmented into short range, medium range, and long range. The long-range segment held 44.7% share of Europe air defense radar market in 2022, amassing US$ 640.67 million. It is projected to garner US$ 815.17 million by 2030 to expand at 3.1% CAGR during 2022–2030.

Based on system type, the Europe air defense radar market is segmented into fixed radar, and portable radar. The fixed radar segment held 67.1% share of Europe air defense radar market in 2022, amassing US$ 962.32 million. It is projected to garner US$ 1,247.33 million by 2030 to expand at 3.3% CAGR during 2022–2030.

Based on platform, the Europe air defense radar market is segmented into ground-base, aircraft-mounted, and naval based. The ground-based segment held 67.1% share of Europe air defense radar market in 2022, amassing US$ 640.47 million. It is projected to garner US$ 850.47 million by 2030 to expand at 3.6% CAGR during 2022–2030.

Based on application, the Europe air defense radar market is segmented into ballistic missile defense, identification friend or foe, weather forecasting, and others. The identification friend or foe segment held 50.9% share of Europe air defense radar market in 2022, amassing US$ 730.22 million. It is projected to garner US$ 1,027.14 million by 2030 to expand at 4.4% CAGR during 2022–2030.

Based on country, the Europe air defense radar market has been categorized into the Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Russia captured 32.0% share of Europe air defense radar market in 2022. It was assessed at US$ 458.39 million in 2022 and is likely to hit US$ 604.96 million by 2030, exhibiting a CAGR of 3.5% during 2022–2030.

Key players operating the Europe air defense radar market are BAE Systems Plc, General Dynamics Corp, Honeywell International Inc, Israel Aerospace Industries Ltd, Leonardo SpA, Lockheed Martin Corp, Northrop Grumman Corp, Raytheon Technologies Corp, Saab AB, and Thales SA, among others.                                                                                          

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