Air Defense Systems Market to Exceed $55,405 Million by 2030
NEW YORK, April 14, 2022 (GLOBE NEWSWIRE) — the Global air defense systems market to grow at a CAGR of over 5.1% over the forecast period and reach a market potential of approximately USD 55,405 million by 2030.
The increased use of military operational intelligence, the growing preference for innovative defense air defense and military intelligence involving security breaches of sensitive government agencies, the increase in irregular warfare threats and conflicts, and the increase in expenses for foreign defense agencies and surveillance platforms are just a few. key factors for the global application of the Defense Systems Market. Additionally, an effective defense system in each country provides security support, training, and equipment to those who want to advance democracy and the market system while dealing with potential threats. On the other hand, a leading border defense system can help states and regional groups adopt a more balanced approach that strengthens national security while defending the rights and eliminating potential threats and risks to those who cross the border. As a result, the defense system serves multiple purposes, helping nations balance their interests in enabling cross-border movement and maintaining security.
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Additionally, the air defense system plays an important role under the Defense Act to contribute to the security of the state by providing tactical air defense for its aircraft. Air defense systems are used to defend against incoming threats such as enemy fighter aircraft such as jet fighters, air-to-air tankers and others, nuclear and conventional missiles, and unmanned aerial vehicles such as drones monitoring. The air defense system acts as an anti-weapon system against all incoming airborne threats, and it is also used for a variety of different applications such as surveillance of international airspace using radar systems and electro-optical sensors.
Aspects of Global Air Defense System Market Growth
Rising military spending on advanced technologies, development of efficient and modern missiles, changing nature of military operations and geopolitical disturbances are expected to drive the air defense systems market in the coming years. On the other hand, the technological advancements in the air defense system will provide lucrative opportunities for the market over the forecast period. Moreover, since there are so many market participants, the market is extremely competitive. Active vendors compete based on product performance, quality, and profitability. However, the limited customer bases, along with the heavy involvement of intergovernmental institutions, are the major market factors hampering the progress of the market. Additionally, the high cost of developing an air defense system and stringent regulations may stifle the growth of the market.
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Long-range air defense system driving the market
The emergence of political insurgencies between geographically distant nations such as Russia and China, or India and China, raises the possibility of long-range ballistic missile attacks. To counter such a potential threat, North America is changing its investment strategy and increasing its investment in long-range air defense systems. In a distributed architecture, the system will enable long-range area defense systems of strategic facilities against incoming attacks. However, as the demand for long-range missile threat mitigation increases, so does the demand for long-range air defense systems. Recently, Ukraine said it needed a long-range ground-based air defense system much more than MiGs. Bringing highly mobile and familiar air defense systems to Ukraine is key to keeping Russian aircraft at bay and under threat.
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa are the regional classification of the global air defense systems market. Due to increasing military spending, Asia-Pacific is expected to lead the market in terms of growth rate for the duration of the forecast period. Increased investment by countries such as China, India, Taiwan and Japan in the development of sophisticated air defense systems to strengthen the defense systems of their active combat areas to avoid and counter threats emerging from regional conflicts. For example, such as the India-Pakistan border dispute, South China Sea con?icts, and unconventional attacks by terrorist groups such as ISIS are attributed to the growth of the Asia-Pacific market. In addition, major defense exporters such as Russia, the United States and Israel see Asia-Pacific as the region with the greatest growth potential and are launching their air defense systems in many countries in the region. In addition, the United States and Russia are focusing their efforts in the region to improve their political influence in the Asia-Pacific region.
The global air defense systems market has been segmented by Acumen Research and Consultancy on the basis of components, systems, applications, and range. Based on component, the market is divided into weapon systems, fire control systems, and control and command (C2) systems. Based on the system, the market has segmented into anti-aircraft system, missile defense system, and counter-rocket, artillery and mortar (C-RAM) system. Based on application, the market has divided into land, naval and airborne. Based on the range, the market is categorized into short range air defense system, medium range air defense system and long range air defense system.
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Some key players covered globally in Air Defense System Industry are Hanwha Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Lockheed Martin Corporation, Bae Systems PLC, Thales Group, Rheinmetall AG, Kongsberg Gruppen, Aselsan AS, The Boeing Company, and Israel Aerospace Industries Ltd.
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Mr. Frank Wilson
Acumen Research and Consulting
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