Market Share of Military Radars Industry
The military radars systems market is consolidated and marked by many prominent players competing for a larger market share. Lockheed Martin Corporation, Northrop Grumman Corporation, Israel Aerospace Industries Ltd, Leonardo SpA, and RTX 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 developing sophisticated radar systems that can effectively detect targets with lower radar cross-sections.
Also, players are investing in developing newer generation radars, like the active electronically scanned array (AESA) radar, passive radar, 3D radar, dual-band radar, etc., which offer several advantages compared to their conventional counterparts. With the growing focus on indigenization, several countries are investing in developing radar systems locally, which is expected to make the market more competitive during the forecast period.
Military Radars Market Leaders
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Lockheed Martin Corporation
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Northrop Grumman Corporation
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Leonardo S.p.A.
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RTX Corporation
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Israel Aerospace Industries Ltd.
*Disclaimer: Major Players sorted in no particular order
