Global Military Radar Market to Reach $12.7 Billion by 2023 Despite Pandemic Setbacks

The global military radar system market is projected to grow at a 3.7% CAGR during 2024-2034, reaching a value of $12.7 billion in 2023.

Demand for long-range surveillance and early warning systems is driving market growth, as nations invest in radar capabilities to detect threats.

COVID-19 negatively impacted the market through supply chain disruptions, budget cuts, and deferred acquisitions.

Increasing investment in national defence and procurement of advanced radar systems are current drivers propelling market growth.

Growth opportunities exist in border security radars and interoperable network-centric systems. Major players include Lockheed Martin, Raytheon, Northrop Grumman.