The First Year

With the global security environment undergoing rapid changes, the military radar systems market has gained momentum. According to MRFR, the market size is anticipated to hit USD 27.3 billion by 2032, with a growth rate of about 7.2% annually from 2024 to 2032.

Industry Overview

Radar systems remain fundamental to defence operations—including surveillance, early warning, missile tracking, air-space monitoring and navigation. The industry has broadened from simple target detection to networked, software-defined radar suites capable of multi-domain operations. MRFR notes that the push to replace outdated systems and heightened defence spending are fuelling demand.

Key Players’ Role

Key industry operators such as L3Harris Technologies, Inc., Lockheed Martin Corporation, Raytheon Company, Northrop Grumman Corporation, SAAB AB, HENSOLDT, Leonardo SpA, Thales Group, ASELSAN AŞ and Israel Aerospace Industries are shaping the market. They play multiple roles: from R&D investment, to strategic government contracts, to global supply chain management and export. Their ability…

With growth and trends on the table, the question becomes: where are the opportunities? Here are key opportunity zones, based on the MRFR report:

• Leisure & tourism segment: With growing consumer willingness to pay for “green” experiences (eco-yacht, electric ferries), manufacturers and operators can tap high-margin segments.

• Military & defence market: Since the military segment held largest share in 2022, electrification of defence marine craft (quiet, stealthy, efficient) offers huge B2B opportunity. 

• Regional expansion: Asia-Pacific presents a fertile market for early movers, especially in India and China as naval & research budgets grow.

• Infrastructure & service ecosystems: Charging stations, battery-swap services, retrofit solutions, modular battery units all constitute ancillary business opportunities.

The commercial aircraft health monitoring systems market is poised for steady expansion over the coming years. According to Market Research Future, the market is anticipated to reach USD 11.5 billion by 2030, growing at a compound annual growth rate (CAGR) of around 6.0% between 2023 and 2030. 

Key growth drivers

1. Rising global commercial fleet – As air travel continues to recover and expand globally, the number of commercial aircraft in service increases. Each aircraft presents an opportunity for health-monitoring systems (HMS) to be installed, either line-fit or retrofit.

2. Operational efficiency and maintenance cost reduction – Aircraft operators increasingly recognise the value of real-time monitoring of systems (engines, airframes, avionics) to move from scheduled/reactive maintenance toward predictive models. That reduces unscheduled downtime, fuel penalties, and improves fleet availability.

1. Regulatory and safety imperatives – Aviation regulators demand higher standards for aircraft reliability and safety. HMS helps meet these requirements by providing data, diagnostics and prognostics…

Introduction

• Overview of regional variations in airport IT infrastructure.

• Factors influencing regional market dynamics.

North America

• Leading in technological advancements and infrastructure development.

• High adoption rate of biometric and automation systems.