Airborne fire control radar market is estimated to be valued at $2,643 million in 2015. It is projected to grow at a CAGR of 3.9% from 2016 to 2022 and reach $3,455 million by 2022. The base year considered for the study is 2015 and the forecast years range from 2016 to 2022. In the coming years, 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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Factors that drive the growth of the 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.
Prominent players in the airborne fire control radar market globally include Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, SAAB Group, Thales Group, Airbus Group, General Dynamics, Israel Aerospace Industries Ltd., Finmeccanica Spa, and BAE Systems.
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.
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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 airborne fire control radar systems worldwide.
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.
Major industry players and defense organizations, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, and General Dynamics Corporation, have collaborated to deliver innovative products. Governments also provide funding to propel the growth of this market. In addition, companies have their own dedicated research division, and annual reports have revealed that a major portion of their annual revenue is spent on R&D activities. This factor is expected to positively affect the market growth.
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits for stakeholders
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
Chapter: 2 EXECUTIVE SUMMARY
2.1 Market snapshot
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Chapter: 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top impacting factor
3.2.2 Top investment pockets
3.2.3 Top winning strategies
3.3 Porter’s five forces analysis
3.3.1 Moderate bargaining power of supplier due to limited providers of quality equipment
3.3.2 Moderate bargaining power of buyer due to availability of latest technologically advanced equipment from different top companies at competitive price
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