The global air and missile defense radar market is estimated to be $7.0 billion in 2014 and is expected to register a CAGR of 6.82 to reach $10.37 billion by 2020. The continued requirement for larger radar foot prints across Europe, East Asia and the Middle East will be the driving factor of the market. The increasing missile threat in regions like Asia-Pacific and in the Middle East, and the growing technological trend in ballistic missile systems are the key growth factors in the market. Joint ventures play a vital role in achieving technological advancement in the market.