At 2.7% CAGR, the South & Central America Air Defense Radar Market is projected to be worth US$ 252.95 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America air defense radar market was valued at US$ 205.13 million in 2022 and is expected to reach US$ 252.95 million by 2030, registering a CAGR of 2.7% from 2022 to 2030. Rise in number of contracts for supply of air defense radar, continuous rise in defense spending, and development of miniaturized and low-cost radars are among the critical factors attributed to the South & Central America air defense radar market.       

The development of miniaturized and low-cost radars is due to technological advancements, such as improved semiconductor manufacturing processes and the miniaturization of associated components. These advancements enable the development of smaller, lighter, and more cost-effective radar systems or miniaturized radar systems compared to traditional ones without compromising performance. Their compact form makes them more accessible and adaptable to different operational requirements and environments. This feature also allows easier integration of radars into various platforms, such as ground-based systems, naval vessels, or unmanned aerial vehicles (UAVs). The flexibility and adaptability of miniaturized radars make them suitable for diverse operational environments, expanding their market potential. Further, the various market players are focusing more on the cost efficiency of the air defense radar systems. For instance, radar systems such as multifunction radar systems offer enhanced operational efficiency by integrating multiple radar capabilities into a single platform. The ability to perform multiple tasks with a single system increases operational efficiency and cost-effectiveness. Thus, the market is witnessing the growing trend of miniaturized and low-cost radars development.

On the contrary, threat of jamming and spoofing hampers the South & Central America air defense radar market.  

Based on function, the South & Central America air defense radar market is segmented into synthetic aperture radar and moving target indicator radar, surveillance radar, airborne early warning radar, multi-functional radar, weather radar, and others. The synthetic aperture radar segment held 30.8% share of South & Central America air defense radar market in 2022, amassing US$ 63.20 million. It is projected to garner US$ 73.81 million by 2030 to expand at 2.0% CAGR during 2022–2030.

Based on range, the South & Central America air defense radar market is segmented into short range, medium range, and long range. The long range segment held 44.5% share of South & Central America air defense radar market in 2022, amassing US$ 91.35 million. It is projected to garner US$ 105.93 million by 2030 to expand at 1.9% CAGR during 2022–2030.

Based on system type, the South & Central America air defense radar market is segmented into fixed radar, portable radar. The fixed radar segment held 64.1% share of South & Central America air defense radar market in 2022, amassing US$ 131.45 million. It is projected to garner US$ 156.33 million by 2030 to expand at 2.2% CAGR during 2022–2030.

Based on platform, the South & Central America air defense radar market is segmented into ground-base, aircraft-mounted, and naval based. The ground-based segment held 44.6% share of South & Central America air defense radar market in 2022, amassing US$ 91.46 million. It is projected to garner US$ 111.82 million by 2030 to expand at 2.5% CAGR during 2022–2030.

Based on application, the South & Central America air defense radar market is segmented into ballistic missile defense, identification friend or foe, weather forecasting, and others. The identification friend or foe segment held 52.0% share of South & Central America air defense radar market in 2022, amassing US$ 106.57 million. It is projected to garner US$ 138.00 million by 2030 to expand at 3.3% CAGR during 2022–2030.

Based on country, the South & Central America air defense radar market has been categorized into Brazil, and the Rest of South & Central America. Our regional analysis states that Brazil captured 75.8% share of South & Central America air defense radar market in 2022. It was assessed at US$ 155.56 million in 2022 and is likely to hit US$ 195.27 million by 2030, exhibiting a CAGR of 2.9% during 2022–2030.

Key players operating the South & Central America air defense radar market are BAE Systems Plc, General Dynamics Corp, Honeywell International Inc, Leonardo SpA, Lockheed Martin Corp, Saab AB, and Thales SA, among others. 

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com