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). Radars, being the first line of defense for any attack, are being procured in large numbers to detect and track enemy movements beyond the borders. 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. Additionally, miniaturization of antenna technology is boosting the integration on smaller platforms such as unmanned aerial vehicles.
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&A). 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.
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The 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. 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.
The advancement in radar technology is mainly driven by two factors: the use of machine learning algorithms to enhance the raw radar signals, and advancements in silicon technology leading to miniaturization. The applications of radar technology such as weapon guidance, airspace monitoring and traffic management, ground surveillance and intruder detection, air and missile defense, navigation, mine detection and underground mapping, airborne mapping, ground force protection and counter battery, and weather monitoring have been grown multi-fold in recent years in the military and defense industry.
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.
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.
