Air Defense System Market will dominate in biggest economies worldwide by 2024- Key Players include Lockheed Martin, Saab AB, Raytheon, BAE Systems

Air Defense System Market size will witness dynamic growth owing to increase in defense expenditures in the emerging economies including, Turkey, South Korea, India and China. Rising research & development activities for the development of air defense systems which includes both long-range weapon systems and advanced radar is expected to propel industry growth during forecast period.

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Air defense system market is available in various type including, Long range, medium range and short range. Increasing attack threats from intercontinental ballistic missiles worldwide is fueling growth of long-range segment. The development of this segment can be attributed to introduction of innovative technologies for medium & short range and guided missile systems. They can be deployed on land platform that includes 3D radar, weapons (missiles & guns), ready-to-fire missiles, fire command vehicles and counter-RAM. The product is used in three platforms, that includes airborne, naval and land. Naval segment will witness fastest growth as it offers complete protection against several types of projected & known air threats. Continuous modification and advancements in naval segment are anticipated to drive industry growth during the forecast period.

The product contains weapon, fire control and command & control system. Further, there are several types of air defense system that includes, missile, anti-plane and counter rocket, artillery & mortar (C-RAM). Missile segment is likely to lead the industry due to increased investments by the countries including, the U.S., France, North Korea, Russia, India, China and Iran for development of the advanced missile defense systems.

North America, dominated by the U.S. for air defense system market is likely to remain the largest industry owing to high defense spending by the U.S. government. Besides, growing involvement of the U.S. military in the middle east regions including, Iraq & Syria and rising concern over the terrorist attacks are few of the key drivers for the industry growth in the region.

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Asia Pacific air defense system market is anticipated to exhibit significant growth as the countries are strengthening their defense system with continuous increment in the government spending. Hostile relations between some of the countries in Asia including, South Korea, China, India and Pakistan is the chief reason behind high investment on the product in the region.

Global air defense market is moderately consolidated with presence of few market leaders in the industry. Some of the key players include Saab AB, Israel Aerospace Industries, Raytheon, Thales Group, Lockheed Martin Corporation, Hanwa Corporation and BAE Systems.

The product contains weapon, fire control and command & control system. Further, there are several types of air defense system that includes, missile, anti-plane and counter rocket, artillery & mortar (C-RAM). Missile segment is likely to lead the industry due to increased investments by the countries including, the U.S., France, North Korea, Russia, India, China and Iran for development of the advanced missile defense systems.

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Global air defense market is moderately consolidated with presence of few market leaders in the industry. Some of the key players include Saab AB, Israel Aerospace Industries, Raytheon, Thales Group, Lockheed Martin Corporation, Hanwa Corporation and BAE Systems.

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