Air Defense System Market Size Worth $61.30 Billion by 2032 – Rising Defense Budgets, Evolving Threat Landscape, Investment in Security, Top Companies & Forecast
The air defense system market size is anticipated to grow from USD 36.93 Billion in 2022 to USD 61.30 Billion in 10 years. The market ought to witness a positive growth rate owing to increasing defense budgets across developed and developing nations. North America region emerged as the most prominent global air defense system market, with a 38.0% market revenue share in 2023.
Newark, Feb. 06, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the global air defense system market will grow from USD 36.93 Billion in 2022 to USD 61.30 Billion by 2032. Air defence systems aim to identify, track, and neutralize or intercept incoming aerial threats, including drones, aeroplanes, and missiles. Growing international tensions, rising defence expenditures, and the changing character of airborne threats drive the market’s expansion. Contemporary air defence systems include advanced radar, sensors, command and control systems, and interceptor missiles to offer complete protection against aerial threats. Advanced technologies have created increasingly complex and powerful systems in the market, such as anti-aircraft artillery and surface-to-air missile (SAM) systems.
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Key Insight of the Air defense system Market
Asia Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, North America is expected to grow at the highest CAGR within the global air defense system market. The Asia Pacific region will significantly expand. The increasing defence budgets of countries, including China, India, South Korea, and others, are the primary factors for growth in the Asia Pacific air defence system market. Rising territorial conflicts in regions such as South Asia and the South China Sea have further augmented the demand for these systems. Top global exporters Russia, Israel and the United States see extensive potential expansion opportunities within this region. The advanced technology deployed by key manufacturers qualifying their offerings is luring many emergent Asian nations to pursue procurement initiatives related to air defence capabilities. China’s ongoing border disputes with virtually all its neighbouring states stimulate the demand for air defence systems. Increased investments into innovative missile development to create untraceable weaponry stimulate heightened expenditures towards adopting more advanced air defence measures.
The anti-aircraft system segment is expected to grow at the highest CAGR during the forecast period.
The type segment includes missile defense system, anti-aircraft system and c-ram system. The anti-aircraft system segment is expected to grow at the highest CAGR during the forecast period. The foundation of air defense lies in anti-aircraft systems. These systems consist of anti-aircraft guns and surface-to-air missiles with short to medium-range capability, designed primarily for neutralizing manned or unmanned aircraft. They offer flexibility against an array of aerial threats, such as drones, helicopters, and fighter jets, making them significant elements in protecting civilian entities and military installations from airborne assaults. The market share obtained by these systems is influenced by the demand to safeguard critical assets like government institutions, industrial complexes and military bases against conventional or unconventional attacks originating via airspace routes, rendering their involvement vital towards sustaining overall security measures implemented in the current scenario.
The sea-based segment is expected to grow at the highest CAGR during the forecast period.
The platform segment is bifurcated into land-based, air-based and sea-based. The sea-based segment is expected to grow at the highest CAGR during the forecast period. The increasing need for sea-based air defence systems is due to the rise in demand for safeguarding naval ships against missile and other airborne threats. A country’s navy serves as both an offensive and defensive force, making securing its extensive fleet and bases with reliable sea-based air defence arrangements imperative. As such, major nations with a sizable military presence at sea are witnessing a surge in demand for these defence mechanisms.
The long-range air defense system segment is expected to grow at the highest CAGR during the forecast period.
The range segment is bifurcated into long-range air defense system, short-range air defense system and medium-range air defense system. The long-range air defense system segment is expected to grow at the highest CAGR during the forecast period. The increasing significance of identifying aerial dangers drives the global demand for long-range air defense (LRAD) systems. Major countries are equipping themselves with LRAD technology to safeguard their territories to intercept and neutralize potential threats before arriving at their intended destinations. This dynamic has contributed significantly to boosting the growth of this industry segment. Furthermore, besides providing a much-needed defensive capability, these advanced military technologies serve as a demonstration tool to showcase national technological prowess.
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• In June 2022: Israel Aerospace Industries (IAI), a leading aerospace and defence company, has announced a significant contract with an unnamed customer to supply the advanced Barak MX air defence system. The Barak MX is a cutting-edge, multi-mission air and missile defence system designed to protect comprehensively against various threats, including aircraft, missiles, and drones. The Barak MX system is known for its advanced technology and versatility. It utilizes a combination of radar systems, missiles, and command and control capabilities to detect, track, and engage targets highly efficiently. The system can be easily integrated with other air defence systems and platforms, making it an ideal choice for modern military forces.
Driver: Rising Investment in Research and Development (R&D) Activities
A boost in research and development investment significantly drives advancements in air defence systems. Governments and defence companies’ channel substantial resources into research and development activities to pioneer top-tier technologies, enhance current mechanisms, and delve deeper into progressive solutions. The ever-growing pursuit of technological advancements through such initiatives cultivates the creation of durable, adaptable, which adds an efficient advantage on agility & responsiveness required for modern-day air defence systems. This factor is stimulating the market growth and development.
Restraint: Geopolitical Sensitivities and Export Controls
The air defence system market’s worldwide reach brings geopolitical sensitivities and the need for export controls. Governments may restrict the exportation of certain technologies to address national security concerns or other geopolitical factors. Such limitations can impact defence contractors’ market access, ultimately influencing global trade and stunting growth in the air defence system industry. This factor is restricting the market growth and development.
Opportunity: Global Terrorism Concerns
Due to the ongoing danger of worldwide terrorism, there has been an increased emphasis on safeguarding important infrastructure and populated areas from non-traditional airborne hazards. Advanced air defence systems are vital for combating potential terrorist incidents involving drones, missiles or other aerial platforms. Asymmetric threats towards urban locations and sensitive facilities necessitate enhanced air defence capabilities to strengthen their protection over time. This factor is anticipated to provide lucrative growth opportunities in the upcoming years.
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Some of the major players operating in the air defense system market are:
• Hanwha Corporation
• Israel Aerospace Industries Ltd.
• Thales Group
• Leonardo S.P.A.
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Raytheon Company
• The Boeing Company
• Kongsberg Gruppen
• Elibit Systems
• L3Harris Technologies Inc.
• Aselsan A.S.
• General Dynamics
Key Segments Cover in the Market:
• Missile Defense System
• Anti-Aircraft System
• C-RAM System
• Long -Range Air Defense System
• Short-Range Air Defense System
• Medium-Range Air Defense System
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
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