Air Defense System Market Is Estimated To Witness High Growth Owing To Rising Geopolitical Tensions and Security Threats

The Air Defense System Market is estimated to be valued at US$ 14.9 Mn in 2024 and is expected to exhibit a CAGR of 13.70% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Key Market Dynamics:

The growth of the air defense systems market is mainly due to the increasing geopolitical tensions and security threats across the world. Due to increasing security concerns due to terrorist activities and cross-border conflicts, countries are placing more emphasis on improving their national defense systems, and in addition, governments are investing more in defense systems. Also Missiles also contribute to the market growth, however, the high cost of acquiring and maintaining air defense systems may hamper the market growth.

Key Market Trends:

Next Generation Air Defense Systems Emerging as Preferred Choice

• One major trend gaining popularity in the air defense system market is the increasing demand for next generation systems equipped with advanced technologies. Key players are focusing on developing innovative air defense solutions integrated with technologies such as artificial intelligence, robotics, cybersecurity, and data analytics. This allows future air defense systems to detect and intercept threats autonomously while remaining connected through secure military networks.

Request for a Sample Copy: https://www.coherentmarketinsights.com/insight/request-sample/5554

Popularity of Mobile and Modular Air Defense Systems on Rise

Another key trend seen in the market is the increased popularity of mobile and modular air defense systems. Military forces globally prefer mobile air defense equipment for their flexibility and ease of operation. Mobile air defense systems can be rapidly deployed in conflict zones and remote terrains. They also require minimal logistical support for transportation. This has driven key players to invest in developing modular and mobile air defense weapon platforms with increased mobility.

Air Defense System Market Opportunities

By Type Insights

By system insights is expected to hold the largest market share over the forecast period. By system includes missile defense system, anti-aircraft system, counter rocket, artillery, and mortar (C-RAM) system. Missile defense systems are expected to witness highest growth during the forecast period, owing to the increasing investments by governments to tackle threats from ballistic and cruise missiles.

By Platform Insights

Land is anticipated to be the dominating segment during the forecast period. Air defense systems installed on land provide efficient protection to borders, command centers, airports and other key installations. Countries are widely adopting surface to air missiles, C-RAM systems and anti-aircraft guns to strengthen their land based air defense capabilities. This is expected to drive the growth of the land segment.

Key Market Takeaways

• The global Air Defense System Market size is anticipated to reach USD 14.9 Mn by 2030, expanding at a CAGR of 13.70% during the forecast period. This is owing to the increasing geopolitical tensions and rising threats from unmanned aerial vehicles and missiles.

• By type, missile defense system segment is expected to hold a dominant position, accounting for over 30% of the global market share by 2030. This is due to sizeable investments by nations in developing missile defense shields to tackle threats.

• On the basis of platform, the land segment is expected to hold a dominant position over the forecast period, accounting for around 55% of the global market share in 2030. Countries are widely adopting surface to air missiles, C-RAM systems and anti-aircraft guns for efficient land based air defense.

• Regionally, North America is expected to hold a dominant position in the global market over the forecast period. This is owing to the heavy investments by U.S. in developing and procuring missile defense systems.

Competitor Insights:

• Hanwha Defence

• Thales Group

• SAAB AB

• Lockheed Martin Corporation

• Raytheon Technologies

• Israel Aerospace Industries Ltd

• Rheinmetall AG

• BAE Systems

• Northrop Grumman Corporation

• General Dynamics Corporation

Recent Developments in the Air Defence System Market

NATO Allies Boosting Their Air Defence Capabilities amid Growing Threats

In the wake of Russia’s invasion of Ukraine and increased missile activities near NATO borders, allies have been working to bolster their air defences throughout 2023 and the first half of 2024. Several major developments have taken place across Europe and North America to modernize systems and capabilities.

US Announces Plan to Station Patriot Systems in Germany and Poland

In June 2023, the United States announced that it will permanently station two Patriot missile defines batteries each in Germany and Poland. This marks the first long-term placement of American air defences in Europe since the Cold War. Officials stated the move is meant to reassure allies and help defend against threats like cruise missiles and drones. The Patriot systems will be fully operational by early 2024.

Interested to know the Market up Close Buy the Full-report: https://www.coherentmarketinsights.com/insight/buy-now/5554

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.