Air and Missile Defense market estimated to reach USD12.5bn by 2021

Research and Markets new report “Air and Missile Defense Radar (AMDR) Market by Range, Application, Platform & by Region – Global Forecast to 2021” has estimated the AMDR market, valued at USD 8.79 billion in 2016, is projected to reach USD 12.52 billion by 2021, at a CAGR of 7.34 percent from 2016 to 2021, the company said.

With increased demand for defense surveillance over porous and attack-prone borders, greater spending on defense sector by developing countries, and rise in terrorism and ongoing inter-country conflicts, the market for AMDRs is expanding subsequently. Rapidly increasing deployment of ballistic and stealth missiles in active warzones around the world, such as the Middle-Eastern countries, have also pushed the demand for AMDRs significantly.

Naval-based AMDRs have the fastest growing market among other types of AMDR systems in North America, followed by naval radars. Raytheon has been most active in the production of naval-specific radars, such as AMDR and Radar Suite Controller (RSC), designed for engagement of threats and long-range detection.

The AMDR market, by region, is dominated by the North America nations, which includes the U.S., and Canada. High defense expenditure by the US is the major driver behind the high market share.