The global Air Defense Systems MarkeGrowth Accelerated by Development of Advanced Air Defense Systems

 

Air defense systems are composed of radar, missiles, and other anti-aircraft weapons designed to counter threats of modern attack aircraft, drones, and missiles. These modern systems provide effective air surveillance and protection against aerial threats for the country, military areas, important infrastructure and bases. Advancements in technologies allow development of faster, smarter, and precision-based air defense missiles and radars that can identify, track and neutralize multiple targets simultaneously.

The global Air Defense Systems Market is estimated to be valued at US$ 16.94 Bn in 2023 and is expected to exhibit a CAGR of 10 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The development of advanced air defense systems is one of the key trends boosting the market growth. Modern air defense systems integrated with digital radar and network-centric technologies provide enhanced detection and neutralization capabilities. They can automatically detect threats within long ranges and link their sensors to form an integrated defense network. For example, the development of S-400 and S-500 air defense missile systems by Russia incorporates advanced active phased array radars and multiple independently targetable reentry vehicle (MIRV) missiles. Such advanced digital networking and precision targeting abilities allow single operators to handle multiple threats simultaneously and ensure high interception accuracy from long distances, thereby accelerating growth of the overall market.

Segment Analysis

The Global Air Defense Systems Market Size can be segmented by platforms and products. The platforms segment is further divided into land-based air defense, naval-based air defense, and airborne air defense. Among these, the land-based air defense segment dominated the market in 2022. This is mainly due to the growing adoption of advanced short-range air defense (SHORAD) and medium-range air defense (MRAD) systems by various countries. These systems provide effective protection from various aerial threats such as attack helicopters, unmanned aerial vehicles and cruise missiles using high-caliber, medium-caliber and light-caliber guns/missiles.

Key Takeaways

The global air defense systems market is expected to witness high growth during the forecast period of 2023 to 2030. The global Air Defense Systems Market is estimated to be valued at US$ 16.94 Bn in 2023 and is expected to exhibit a CAGR of 10 % over the forecast period 2023 to 2030.

Regional analysis related content: North America region is expected to continue its dominance during the forecast period as well. Major countries in this region are focusing on developing advanced long range surface to air missile systems as well as next generation short range air defense systems. The US, being a key exporter of air defense equipment globally, has major programs underway to replace aging Patriot systems with more capable surface to air missile systems.

Key players: Key players operating in the air defense systems market are focusing on developing advanced air defense weapons and systems with improved radar, multi-target engagement capabilities and integrated network centric warfare features. For instance, BASF is working on upgrading its Patriot air defense missile system and Bayer CropScience has partnered with other players for co-development of new very short range air defense guns/cannons.

Get More Insights On This Topic: https://www.newsstatix.com/air-defense-systems-market-size-share-analysis-2023-2030/


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