Airborne Fire Control Radar Market Growing Technology Trends and Business Opportunities by 2028The new report by the FBI,“ The global airborne fire control radar market size is set to exhibit massive growth based on the rising investments by leading economies for strengthening their defense systems. Fortune Business Insights™ supplies this information in its report, titled "Airborne Fire Control Radar Market, 2021-2028." The global airborne fire control radar market size was USD 2,655.4 million in 2020. The market is projected to grow from USD 2,797.3 million in 2021 to USD 3,866.4 million in 2028 at a CAGR of 4.73% in the 2021-2028 period.

List of Companies Covered in the Airborne Fire Control Radar Market Report

Lockheed Martin Corporation
Northrop Grumman Corporation
Saab AB
Israel Aerospace Industries Ltd
Raytheon Technologies Corporation
BAE Systems
General Dynamics Corporation
Leonardo S.p.A
Thales Group

Regional Insights

The prominence of Major Players in North America to Elevate Market Growth

North America is expected to lead the airborne fire control radar market share during the forecast years because of the presence of several crucial aerospace & defense companies in the region, such as Lockheed Martin Corporation, Raytheon Technologies Corporation, and Northrop Grumman Corporation. The humongous number of military aircraft careers in the US is embedded with radar technology and nurturing market growth in the region.

The increasing budgetary allocation to the defense sector in the Asia Pacific region for boosting the air force and military systems is attributable to the intensifying border disputes between India and China. Further, the dynamic relations of other countries with China are expected to boost the demand for airborne fire control radar systems.

Competitive Landscape

Key Players to Devise Strategies to Mark Significant Market Position

Strategies such as joint ventures have enabled companies to gain contracts from national defense forces. For example, Northrop Grumman Corporation and Lockheed Martin Corporation entered a joint venture in February 2020 to secure a contract worth USD 235.8 million from the US Military to deliver exceptional post-adoption services for AH-64E Apache Helicopter. In addition, key players have developed innovative features for airborne fire control radar systems for tracking the movement of missiles automatically. Moreover, the companies have incorporated modular designs for attracting demand and marking considerable brand position in the market.

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