Global Short Range Air Defense Systems Market is valued at approximately USD 12.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2022-2029. Short-range air defense systems are a type of defense equipment that deals with low-altitude aerial challenges, such as those prompted by helicopters, unmanned aerial vehicles (UAVs), and low-flying aircraft. The Short-Range Air Defense Systems market is expanding because of factors such as the rising in defense activities of nations to protect against various threats and increasing defense expenditure towards the procurement of air defense systems.

Short-range air defense systems protect public assets and people from threats such as drones and missile attacks. Its prevalence has progressively increased during the last few decades. According to Statista, in 2021, military spending worldwide amounted to USD 2.11 trillion. The United States accounted for 38% of total military spending globally. Furthermore, in 2021, the United States accounts for USD 801 billion followed by China USD 293 billion and German with USD 56 billion on the military. Another important component driving space is increasing spending on air defense systems. According to Statista, the United States led the ranking of countries with highest military spending in 2021, with USD 801 billion which accounts for 38% of the total military spending worldwide, which amounted to USD 2.1 trillion. In addition, around USD 157 billion were appropriated for the U.S.-Israeli short range Missile Defense. Also, rising technological advancement in short range air defense systems and increasing government initiatives in air defense systems would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Short Range Air Defense Systems stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Short Range Air Defense Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players and rising technological advancement in air defense systems. According to the Statista, in 2021, around 2,187 U.S. dollars per capita were spent on military causes by the United States. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising government initiatives in defense research development in the market space.

Major market player included in this report are:

Airbus SE
Thales Group
Northrop Grumman Corporation,
BAE Systems plc
The Boeing Company,
Elbit Systems Ltd.,
General Dynamics Corporation,
L3Harris Technologies, Inc.
Lockheed Martin Corporation,
Raytheon Technologies Corporation

Recent Developments in the Market:
? In February 2023, Thales has been awarded a contract to supply Ukraine with a complete short-range air defense system. The company will supply an air defense system package, additional components, and sensor systems as part of the contract including the GM200 radar from the company, a radio communications system and air target identifiers.

Global Short Range Air Defense Systems Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Type, Platform, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Component
Weapon System
Fire Control System
Command and Control System

By Type
Missile Defense System
Counter Rocket, Artillery, and Mortar (C-RAM) System

By Platform
Man Portable
Vehicle Mounted

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World