“The air defense system market is projected to grow at a CAGR of 5.74% from 2017 to 2024.”
The air defense system market is projected to grow from USD 30.57 billion in 2017 to USD 45.19 billion by 2024, at a CAGR of 5.74% from 2017 to 2024. The increasing defense expenditures of emerging economies such as China, India, South Korea, and Turkey are expected to offer several growth opportunities for stakeholders of the air defense system market. This, combined with increasing R&D activities for the development of air defense systems with advanced radar and long range weapon systems, is expected to propel the growth of the air defense system market across the globe during the forecast period from 2017 to 2024. However, the high costs involved in the development of advanced air defense systems and regulatory hurdles related to transfer of arms from one place to another are some of the factors restraining the growth of the air defense system market across the globe.
“Based on platform, the land segment is estimated to account for the largest share of the air defense system market in 2017.”
Based on platform, the land segment is estimated to account for the largest share of the air defense system market in 2017. The growth of this segment of the market can be attributed to the introduction of new technologies for short range, medium range, and guided missile systems. Air defense systems that are deployed on the land platform include weapons (missiles and guns), 3D radar, counter-RAM, fire command vehicles, and ready-to-fire missiles.
“The Asia Pacific region is estimated to account for the largest share of the air defense system market in 2017; the Asia Pacific air defense system market is projected to grow at the highest CAGR during the forecast period.” The Asia Pacific region is estimated to account for the largest share of the air defense system market in 2017. The Asia Pacific air defense system market is projected to grow at the highest CAGR of 6.06% during the forecast period. It is expected to be followed by the Europe air defense system market, which is projected to grow at a CAGR of 5.76% from 2017 to 2024. Rising incidences of insurgencies, territorial disputes, terrorism, and unrest between neighboring nations, along with increased defense spending by emerging economies of the Asia Pacific region are the factors fueling the growth of the Asia Pacific air defense system market.
Break-up of profiles of primary participants for this report:
• By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
• By Designation: C Level – 75%, Manager Level – 25%
• By Region: North America - 30%, Europe – 20%, Asia Pacific – 30%, Middle East- 10%, and RoW –10%
The leading players in the air defense system market include Saab AB (Sweden), Israel Aerospace Industries Ltd. (Israel), Lockheed Martin Corporation (US), and BAE Systems plc (UK), among others.
The air defense system market has been segmented based on range (long range air defense (LRAD) system, medium range air defense (MRAD) system, and short range air defense (SHORAD) system), platform (airborne, land, and naval), type (missile defense system, anti-aircraft system, and Counter Rocket, Artillery, and Mortar (C-RAM) system), and component (weapon system, fire control system, and command and control system). The air defense system market has been studied for North America, Europe, Asia Pacific, Middle East, and Rest of the World (RoW). The report provides an in-depth market intelligence regarding market dynamics and major factors such as drivers, restraints, opportunities, and industry-specific challenges that influence the growth of the air defense system market. It also analyzes micro-markets with respect to individual growth trends, future prospects, and their contribution to the air defense system market.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analysis ? industry analysis (industry trends), market share analysis of the top players, supply chain analysis, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high growth segments of the air defense system market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on air defense systems offered by the top players operating in the air defense system market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the air defense system market.
• Market Development: Comprehensive information about the emerging markets – the report analyzes the markets for air defense systems across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the air defense system market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the air defense system market.