The First Year

The global military radar systems market is charting a steady upward trajectory, with insightful metrics from the MRFR report revealing a forecast value of USD 27.3 billion by 2032 and a CAGR of ~7.2% between 2024 and 2032. Given the evolving threat landscape—from unmanned aerial vehicles to advanced missile systems—radar solutions are becoming mission-critical.

Industry Overview

Radars have been at the heart of military operations for decades, but recent developments have elevated their importance. Modern radar systems provide not only detection and ranging, but also tracking, classification and even integration with command & control and sensor networks. The MRFR research identifies radar adoption being supported by increasing defence budgets, legacy system upgrades and intensified regional instability.

Key Players’ Role

In this competitive market, major defence contractors are pivotal. Companies such as Northrop Grumman, L3Harris Technologies, Lockheed Martin, Israel Aerospace Industries, ASELSAN, Leonardo, Thales Group, Raytheon Company, TERMA, BAE Systems PLC,…

While growth in the rocket solid propulsion market is moderate, the landscape is being shaped by a number of trends and attendant opportunities which savvy market participants can exploit.

Trends

1. Defence and high-readiness demand: Solid-propellant systems continue to play a key role in missile forces due to their ability for rapid launch readiness and long shelf-life. As nations invest in missile modernisation, including hypersonics and strategic deterrent upgrades, the solid-propulsion segment benefits.

1. Space launch integration with solid boosters: Even as liquid fuel engines proliferate for core stages, solids are used for strap-on boosters, small launchers and auxiliary roles. With new small-sat launchers entering service, modular solid motor systems offer cost-effective thrust augmentation.

2. Emerging geographies and new space entrants: The space sector is globalising — Asia, the Middle East, Latin America and Southeast Asia are increasingly participating. These regions often adopt proven solid-motor technologies (less complex than liquid systems) for their launch…

While MEV market trends are exciting, the MRFR report also outlines key constraints:

• Range and battery limitations: Marine craft require significant energy storage; current battery tech constrains longer-haul or high-power applications. 

• Infrastructure gaps: Charging stations in marinas/ports are fewer than land-EV equivalents; lack of standardisation slows adoption.

• High cost of adoption: Electric marine craft and the required batteries are more expensive upfront vs conventional diesel/combustion craft. 

• Safety & regulation: Ensuring safety in marine electric craft (fire risk, battery stability, certification) adds complexity and cost. 

With the Commercial Aircraft Health Monitoring Systems Market poised for growth and undergoing several trends, what are the strategic opportunities for companies? Based on MRFR, several emerge. 

 Retrofit opportunity: Many existing commercial aircraft lack modern health monitoring systems. The retrofit segment is already leading and fastest growing. Companies providing retrofit kits, installation services, aftermarket analytics have a runway here.

 Prognostic/IVHM technology: The largest share is held by prognostic systems in 2022. Firms with strong AI/ML, data analytics, sensor fusion, cloud connectivity can capture value here. 

 Regional expansion: While North America dominates, Asia-Pacific offers high growth given rising fleets, increased scrutiny on safety and maintenance, and investments in aviation infrastructure. Sending resources into emerging markets (India, China, Southeast Asia) may pay off.

 Subsystem specialization: Since aero-propulsion is a key subsystem revenue driver, specialists in engine health analytics, sensor networks for propulsion can gain an edge. Also, there may be growth in structural…