Mergers and acquisitions, partnerships, collaborations, agreements, and joint ventures turned out to be the most preferred strategy in the expansion of the 3D & 4D military radars market. The companies with identical goals are actively collaborating to form joint venture programs in order to assist each other in achieving those mutual goals. This helps companies to improve their technologies, expand and increase services, and thus, facilitate each other to achieve the objectives faster.
Thales Group, Northrop Grumman Corporation, Raytheon Technologies, and Saab AB currently foster the highest competitive strength in the global 3D & 4D military radars market, with a significant geographical presence. These companies received most of their contracts from the U.S. Army for the development of various advanced 3D & 4D military radars.
The companies having moderate competitive strength in the market are Bharat Electronics Limited, Israel Aerospace Industries, the Defence Research and Development Organization (DRDO), and Lockheed Martin Corporation. The companies are engaged in robust research and development for next-generation radars to be integrated onto different platforms. For instance, in April 2018, Electronics and Radar Development Establishment (a laboratory that is a part of the Defence Research & Development Organization (DRDO), India) developed Arudhra, a medium power radar (MPR) which can track a small fighter-sized target from 300km. Thus, Arudhra can determine a range (straight distance from radar), altitude (distance from the ground), azimuth (angular position from a reference direction), and velocity vector of a target.
On account of the COVID-19 pandemic, many developed and developing countries are facing a full or partial lockdown situation since March 2020, affecting the operation and supply chain of companies in multiple industries. The defense industry falls into the category which is highly exposed to a large number of externalities, such as political, economic, and social. Revenue generation of the defense industry is majorly from the defense budget allocated by the government for procurement, and research and development activities. It is expected that due to the COVID-19 pandemic, the defense industry will face a low to medium impact for short term (2020-2023) period caused by anticipated reduction in defense budgets by leading countries. However, in medium to long term (2024-2030), the defense industry will likely grow further as COVID-19 will not mitigate the worsening of international security and threat. On the contrary, it is likely to make the world more unstable and more insecure. The impact of COVID-19, particularly on the 3D & 4D military radars market, will also show a decline in growth and market size due to supply chain disruption and production loss.
For Sample Report, Click here: https://bisresearch.com/requestsample?id=962&type=download
Most of the 3D & 4D radars are multi-functional radars that offer more than one application. The budgetary constraints and the incapability of developing radar systems indigenously by several nations act as a roadblock in the growth of this market. Hence, some companies are trying to develop smaller, short-range radars cost-effective. However, the high cost of equipment and components such as sensors, transmitters, receivers, and systems are making it difficult for smaller developing and underdeveloped nations to procure the latest, technologically advanced radar systems. Apart from procurement costs, installation and maintenance costs are also pretty high.
Demand for multi-function radars for intelligence, surveillance, reconnaissance, target acquisition, and identification friend or foe (IFF), is expected to increase significantly over the years, owing to increased military and defense spending. As most of the 3D & 4D radars are multi-functional radars, the countries will prefer to procure a single multi-function radar instead of procuring various single role radars. The radar’s multi-function scan technology allows the users to choose specific roles for the radar, such as low-level medium-range or long-range flight surveillance in specific sectors, making it adaptable in all situations.
Over the last decade, the defense industry has been witnessing a massive transformation owing to the increasing development of technologies in the field of advanced radars, electronic warfare, communications, jamming and anti-jamming systems, artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML).
This high-resolution 3D & 4D military radar technology has opened new dimensions to conventional radar systems and, in turn, accelerated the advanced military vehicle deployment.
Currently, 4D military radars are gaining more popularity in air and missile defense applications.
The market has considerably evolved in developed regions such as North America and Europe and is gaining popularity in geographies such as the Asia-Pacific and the Middle East and Africa (ME).
It is experiencing further growth because of various aspects such as the increase in defense budgets of various countries and huge investments for research and development of 4D radars.There has been a significant rise in the interference activities among hostile nations, which has resulted in growing interest and escalating demand for integration of advanced radar technology with different military platforms such as airborne, ground, and naval across the globe.
Due to increasing military budget inflows across the globe and growing conflicts among various countries, the demand for more robust positioning, navigation, and 3D & 4D military radars are in substantial demand.Get the Sample Report at: https://bisresearch.com/requestsample?id=962=downloadThe latest 3D & 4D radars are expensive to develop, and hence many developing countries lack the funds to invest in the development of such radar systems.
