Global Air and missile defense radar Market to reach USD 19 billion by 2027. Global Air and missile defense radar Market is valued approximately USD 11.68 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.2 % over the forecast period 2021-2027. Air-to-Air missile (AAM) is a missile fired from an aircraft for the purpose of destroying another aircraft. AAMs are typically constraints by one or more rocket motors, usually solid fueled or liquid fueled. Threats of missile and nuclear attacks by nations, increased demand for naval based radar system, and increasing government budget on military expenditure has led the adoption of Air and missile defense radar across the forecast period. Countries in Asia and Middle East are in constant threat of missile and nuclear attacks due to their disputes thus making these regions a potential market for the firms. For instance, As per STOCKHOLM INTERNATIONAL PEACE RESEARCH INSTITUTE (SIPRI), Total global military expenditure rose to $1981 billion in 2020, an increase of 2.6 per cent in real terms from 2019. However, high manufacturing costs impedes the growth of the market over the forecast period of 2021-2027. Also, with rising need for improved and much stronger naval fleet, the adoption & demand for Air and missile defense radar is likely to increase.

Global Air and missile defense radar Market is segmented on the basis of geographical region as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the technology advancement and major defense equipment industry located in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising military budget, constant threats between the nation would create profitable growth prospects for the Air and missile defence radar Market across Asia-Pacific region
Major market player included in this report are:
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon Company
SAAB Group
Thales Group
Airbus Group
BAE Systems
General Dynamics
Israel Aerospace Industries Ltd.
Finmeccanica SPA

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Platform:
Ground-Based
Naval-Based
Airborne-Based
By Application:
Ballistic Missile Defense
Conventional
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Air and missile defence radar Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors