The air defense system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Air Defense System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The air defense system market size has grown strongly in recent years. It will grow from $31.55 billion in 2023 to $33.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to cold war era military buildup, missile defense systems development, threat from aerial warfare, shift from conventional to asymmetric warfare, national security imperatives..
The air defense system market size is expected to see strong growth in the next few years. It will grow to $43.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increased defense budgets, growing threats from unmanned systems, geopolitical instabilities, demand for multi-layered defense, shift towards directed energy weapons.. Major trends in the forecast period include advancements in missile technology, rise in asymmetric warfare, drone and uav proliferation, integrated air defense networks, focus on cybersecurity..
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Scope Of Air Defense System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Air Defense System Market Overview
Market Drivers –
Rising demand due to global conflicts is expected to propel the growth of the air defense system market going forward. Conflicts refer to various forms of geopolitical and military confrontations that have prompted countries to invest heavily in air defense capabilities. Air defense systems play a crucial role in conflicts and war-like situations by safeguarding airspace and protecting against aerial threats, including missiles, drones, and aircraft. For instance, according to the Armed Conflict Location & Event Data Project (ACLED) is a US-based non-governmental organization, there were 174 instances of violent crisis recorded globally in 2022, with the full-scale Russian invasion of Ukraine escalating the war to a level that dwarfed all other conflicts in terms of scale and deadliness. Therefore, the rising demand due to global conflicts is driving the growth of the air defense system market.
Market Trends –
The development of advanced weapon systems is the key trend gaining popularity in the air defense systems market. Major companies operating in the air defense market are focused on developing innovative products to strengthen their position in the market. For instance, in October 2022, MBDA, a France-based manufacturer of missile systems, introduced the VL MICA NG air defense system, a new generation anti-air missile. The new VL MICA NG system has enhanced handling capabilities for unconventional targets as well as emerging threats with decreasingly detectable infrared and radio frequency fingerprints. The conventional targets such as aircraft, helicopters, cruise missiles, and anti-ship missiles already covered by the present VL MICA system will also be able to be intercepted at greater ranges.
The air defense system market covered in this report is segmented –
1) By Type: Missile Defense System, Anti-Aircraft System, Counter Rocket, Artillery And Mortar (C-RAM) System
2) By Component: Weapon System, Fire Control System, Command And Control System, Other Components
3) By Range: Short Range Air Defense System, Medium Range Air Defense System, Long Range Air Defense System
4) By Application: Land, Naval, Airborne
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Regional Insights –
North America was the largest region in the air defense system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the air defense system market report during the forecast period. The regions covered in the air defense system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the air defense system market report are Lockheed Martin Corporation, BAE Systems plc, Rheinmetall AG, Thales Group, Northrop Grumman Corporation, Hanwha Corporation, Leonardo SPA, L3Harris Technologies Inc., Saab AB, Israel Aerospace Industries Ltd., The Boeing Company, Aselsan AS, Airbus Defence and Space, Elbit Systems Ltd., Kongsberg Gruppen ASA, Bharat Petroleum Corp. Ltd., Gazprom Neft PJSC, BP plc, Qatar Jet Fuel Company, Allied Aviation Services Inc., Chevron Corporation, Boeing Company, TotalEnergies SE, Exxon Mobil Corp., Cobham Ltd., MBDA Missile Systems, Raytheon Technologies Corporation, Defense Research and Development Organization, Turkish Aerospace Industries Inc., Rafael Advanced Defense Systems Ltd., General Dynamics Corporation, Almaz-Antey Corporation, Mitsubishi Electric Corporation, Rostec State Corporation, Serco Group plc .
Table of Contents
1. Executive Summary
2. Air Defense System Market Report Structure
3. Air Defense System Market Trends And Strategies
4. Air Defense System Market – Macro Economic Scenario
5. Air Defense System Market Size And Growth
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27. Air Defense System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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