Global Active Protection System Market is valued approximately at USD 3.65 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2021-2027. Active protection system are sub-systems which are installed in combat vehicle to prevent missiles from destroying a target. The global Active Protection System market is being driven by increase in military spending which supports the adoption of advanced technology. For instance, according to the Stockholm International Peace Research Institute, there has been increase in military expenditure from USD 1.82 Trillion in 2018 to USD 1.98 Trillion in 2020. The other driving factor for the market growth is the increase in the geopolitical instability around the world thereby arising the need to protect combat vehicles. Furthermore, high use of research & development activities in the technological advancements, developing defense industry, providing safety to soldiers in war situations and increasing focus on military modernization will provide new opportunities for the global Active Protection System industry. However, high cost related to implementation of system may impede market growth over the forecast period of 2021-2027.
The regional analysis is based on the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World for the global Active Protection System Market. Europe is the leading region across the world in terms of market share owing to increase in the spending on advanced airborne targeting systems and presence of large established manufacturers. Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027 due to presence of large combat warfare systems, increasing investments by the private companies, increasing military spending by government, rising border conflicts and adoption of the advanced technologies.
Major market player included in this report are:
Lockheed Martin Corporation
Raytheon Technologies Corporation
Northrop Grumman Corporation
Elbit Systems Ltd.
Tata Advanced Systems Limited
Bharat Electronics Limited (BEL)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Kill System Type:
Soft Kill System
Hard Kill System
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Active Protection System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers