The global 3D & 4D military radars market is competitive, with the leading players actively competing against each other to gain the largest share. The competitive landscape of the 3D & 4D military radars industry exhibits an inclination toward emerging strategies and developments by market players.
The key players that are actively participating in the 3D & 4D military radars market include Thales Group, Northrop Grumman Corporation, Lockheed Martin Corporation, Saab AB, Leonardo S.p.A., Raytheon Technologies, BAE Systems, Mitsubishi Electric Corporation, L3Harris Technologies, Inc., Bharat Electronics Limited, Hensoldt, Israel Aerospace Industries, Airbus S.A.S, and government agencies, among others.
The prominent players in the 3D & 4D military radars market adopted strategies of new product launches, partnerships, collaborations and contracts, and other strategies to expand their business. The companies are also involved in some of the other developments that include mergers and acquisitions, facility expansion, product extension and upgradation, and funding to develop advanced radars for varied platforms. Due to the intensive competition, the 3D & 4D military radars industry requires manufacturers to constantly innovate and develop cost-effective radars with the existing and forthcoming industry standards for various military applications. The market is likely to grow rapidly with the developments in new radars with advanced hardware and software, which offers longer endurance and efficiency.
Impact of COVID-19 on the 3D & 4D Military Radars Market
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.
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Innovation in military 3D & 4D radars is gradually taking shape. Companies such as Northrop Grumman, Israel Aerospace Industries, Lockheed Martin Corporation, BAE Systems, DRDO, Leonardo S.p.A., are testing advanced radar which can support various applications such as weapon guidance, navigation, airborne mapping, weather monitoring, ground force protection and counter battery, air and missile defense, airspace monitoring and traffic management, ground surveillance and intruder detection, and mine detection and underground mapping.
UPCOMING INDUSTRY TRENDS 