Market Share of Military Radars Industry
The military radars market is highly competitive and marked by the presence of many prominent players competing for a larger market share. Lockheed Martin Corporation, Northrop Grumman Corporation, Israel Aerospace Industries, Leonardo SpA, and Raytheon Technologies Corporation are some of the major players in the market. The stringent safety and regulatory policies in the defense segment are expected to restrict the entry of new players. With the growing implementation of stealth technologies in adversary aerial platforms and weapons, market players are focusing on the development of sophisticated radar systems that can effectively detect targets with lower radar cross-sections. Also, players are investing in the development of several newer generation radars, like the Active Electronically Scanned Array (AESA) radar, passive radar, 3D radar, dual-band radar, etc., which offer several advantages as compared to their conventional counterparts. With the growing focus on indigenization, several countries are investing in the development of radar systems locally, which is expected to make the market more competitive in the years to come.
Military Radar Market Leaders
Lockheed Martin Corporation
Northrop Grumman Corporation
Leonardo S.p.A.
Israel Aerospace Industries
Raytheon Technologies Corporation
*Disclaimer: Major Players sorted in no particular order
