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(Transportation-News.com, June 06, 2020 ) 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 objectives of this study are to analyze the air defense system market, along with the statistics from 2017 to 2024 as well as define, describe, and forecast the market based on range, platform, type, component, and region. The year 2016 has been considered as the base year while 2017 to 2024 has been considered as the forecast period for this study on the market.
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Key Market Players
The ecosystem of the air defense system market includes manufacturers of air defense systems such as Saab AB (Sweden), Israel Aerospace Industries Ltd. (Israel), Raytheon Company (US), Thales Group (France), Lockheed Martin Corporation (US), Hanwa Corporation (South Korea), and BAE Systems PLC (UK), among others.
Target Audience for this Report:
• Manufacturers of Air Defense Systems
• System Integrators
• Manufacturers of Sensors and Radar
• Defense Software Providers
• Original Equipment Manufacturers (OEMs)
• Subcomponent Manufacturers
• Military Service Providers
• Potential Investors (Venture Capitalists)
Based on platform, the air defense systems market has been segmented into land, naval, and airborne. The land segment is projected to lead the market in 2017 by accounting for a share of 71.6% of the market. Technological advancements taking place in short range, medium range, and guided missile systems are the factors driving the growth of the land segment of the market.
Based on range, the air defense system market has been segmented into long range air defense (LRAD) system, medium range air defense (MRAD) system, and short range air defense (SHORAD) system. The long range defense (LRAD) system segment is estimated to lead the market in 2017. Increasing attack threats from long range missile launches, asymmetric warfare, and intercontinental ballistic missiles across the globe are some of the factors fueling the growth of the long range defense (LRAD) system segment of the market.
Based on type, the air defense system market has been segmented into anti-aircraft system, missile defense system, and Counter Rocket, Artillery, and Mortar (C-RAM) system. The missile defense system segment is projected to lead the market during the forecast period.
The air defense systems market has been studied for North America, Europe, Asia Pacific, the Middle East, and Rest of the World. The Asia Pacific region is estimated to lead the market in 2017. The Asia Pacific air defense system market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific market can be attributed increased investments being made by countries such as China, India, Japan, South Korea, Taiwan, and Australia in the development of advanced air defense systems to strengthen defense systems of their combat zones to avoid and tackle threats arising from regional conflicts such as India-Pakistan border conflict, South China Sea Conflict, and non-conventional threats from terrorist groups such as ISIS.
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