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.
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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.
The 3D & 4D military radars manufacturing companies have witnessed rising demand from countries such as the U.S., Germany, Russia, China, the U.K., Saudi Arabia, the U.A.E., Israel, and Turkey. North America dominated the 3D & 4D military radars market with a share of 31.02% in 2019. Its total market size was valued at $2.39 billion in 2019 and is projected to reach $2.93 billion by 2025, registering a CAGR of 3.67% during the period 2020-2025. The U.S. is one of the prominent countries in the world, and it recorded the highest market revenue of $2.18 billion in 2019. It is expected to cross $2.69 billion by 2025.
Europe is the second most prominent region for the 3D & 4D military radars market with reported revenue of $1.56 billion in 2019 and is expected to grow at a CAGR of 3.38% during the forecast period 2020-2025. In Europe, Russia acquired the major market share of 32.74% in 2019, with an expected CAGR of 4.17% during the forecast period. Asia-Pacific, including the major countries, such as China, India, Japan, and South Korea, is the third most prominent region for the 3D & 4D military radars market. The 3D & 4D military radars market in Asia-Pacific reported revenue of $2.10 billion in 2019 and is expected to grow at a CAGR of 3.96% during the forecast period. In Asia-Pacific, China acquired a major market share of 37.40% in 2019, with a CAGR of 4.30% during the forecast period. This region is growing at a much faster rate as compared to North America and Europe due to constant efforts by the governments of Asia-Pacific countries for strengthening their defense forces with advanced 4D radar systems.
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The Middle East and Africa region is expected to witness a significant growth rate of 2.99% during the forecast period, reaching $1.22 billion by 2025. This growth can be attributed to the constant efforts by the defense agencies for the procurement of new platforms equipped with advanced radars to counter incoming threats from neighboring countries.
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