The Airborne Radars Market is projected to grow from $4.1 billion in 2020 to $6.0 billion by 2025, at a CAGR of 8.0% from 2020 to 2025. Some of the factors that are expected to fuel the growth of the airborne radars market include the increasing focus on obtaining precise intelligence during airborne surveillance to support decision making process.

COVID-19 Impact on the Global Airborne radars market

The airborne radars market includes major players such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), Israel Aerospace Industries (Israel), Leonardo SPA (Italy), BAE Systems (UK), Hensoldt AG (Germany), Saab AB (Sweden), Aselsan (Turkey), Elbit Systems (Israel) and L3Harris Technologies (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, and Rest of World. COVID-19 has impacted their businesses as well.

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The rapid spread of COVID-19 in Europe, the US & Asia Pacific has led to a significant drop in overall defense related budget allocations which led to depleted interests in military modernization programs globally. This resulted into stagnant demand for airborne radar globally, with a corresponding reduction in revenues for various airborne radar providers across all markets owing to late delivery, manufacturing shutdown, and limited availability of equipment. As per industry experts, the global airborne radar demand is anticipated to recover by 2022 fully.

Based on component, the digital signal processor segment is projected to grow at the highest CAGR during the forecast period.

The growth in the airborne radars market is expected to drive the growth of these different components proportionately. The requirement of advanced radar systems, as well as upgradation and modernization of conventional radar, will help grow the market for radar components. Thus, the growth rate of multiple components, such as transmitters, receivers, and power amplifiers, is expected to be in a similar range during the forecast period.

Based on platform, the UAVs segment is projected to grow at the highest CAGR during forecast period.

Based on platform, the UAVs segment is projected to grow at the highest CAGR during forecast period. The demand for sophisticated airborne radars to support airborne surveillance activities through UAVs by several defense organizations is driving the UAVs segment growth globally.

Based on technology, the software-defined radar (SDR) segment is projected to grow at the highest CAGR during forecast period

Growing demand for versatility of airborne radar in processing various tasks, such as signal generation, filtering, up and down conversion, etc., through software is driving the growth of this segment. Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Leonardo SpA (Italy) and BAE Systems (US) are some of the major players that offer technologically advance airborne radars.

The airborne radars market in Asia Pacific is projected to grow at the highest CAGR from 2020 to 2025.

The Asia Pacific airborne radars market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific airborne radars market is primarily driven by increasing focus on modernization of existing military systems by major economies in this region. In addition, factors including increasing geopolitical tensions and increased defense related expenditure are expected to drive the demand for airborne radar in the region.

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