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What's driving the Air Defense System Market Trends? Saab AB, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Leonardo S.P.A., BAE Systems PLC, Rheinmetall AG, Thales Group, Kongsberg Gruppen, Raytheon Company, MBDA, Northrop Grumman Corpor

05-26-2020 06:21 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: DecResearch.com

Air Defense System Market

Air Defense System Market

Air defense system market is forecast to cross the USD 35 billion mark by 2026. Major defense companies are investing in R&D activities to provide advanced air defense systems. Continuous introduction of technologically advanced air defense systems, such as counter UAVs, automatic fire control systems, and hyper sonics missiles will change air defense system market trends over the coming years.

Rising geopolitical tension between countries, such as China and India have prompted the governments of the respective economies to increase their defense budget, which is supporting the growth of industry players & weapon suppliers globally. For instance, Boeing was granted more than 20 contracts, amounting to USD 13.7 billion by the U.S. defense sector in 2018.

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Rise in territorial disputes among nations along with vulnerability to air-based threats is likely to drive global air defense system market outlook. Countries across the globe are increasing their defense budget to safeguard their countries with the deployment of advanced air defense systems. In this regard, increasing cross-border conflicts among APAC countries is a key factor fueling industry growth.

Key industry players across air defense system industry experienced significant growth in their revenues from government contracts. For example- Almaz-Antey, a developers of anti-aircraft defense systems witnessed 17% increase in weapon sales, majorly due to increased sales of S-400 in China and India. In 2017, weapon sales of Thales Group increased by 7%, followed by BAE Systems by 3.3%, and Northrop by 2.4%.

Proliferation of new-age technologies
Penetration of new-age technologies, such as machine learning and artificial intelligence in defense equipment may change air defense system market trends over the analysis period. Implementation of new technology and upgradation of the existing system are positively impacting the industry. The technological landscape of the industry is rife with the introduction of ground-breaking technologies, including AI and drones and the development of super-efficient defense platforms. Also, utilization of laser technology to destroy incoming projectiles is an emerging trend within the industry, which will change the business landscape. For instance, Russia had put forward a concept for developing a nuclear-powered cruise missile in 2018. The concept demonstrated that the missile will be powered by a small nuclear reactor and will have an infinite target range at a cruising speed with low altitude.

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The increasing defense budget and growing cross border conflicts between India, China, and Pakistan are some of the major drivers for the growth of the air defense system market. The rising defense budget is supporting the growth of industry players and weapon suppliers across the globe. For instance, in 2018, Boeing was awarded over 20 contracts in the defense sector with a total amount of USD 13.7 billion by the U.S. Some of the major industry players experienced significant upsurge in their revenues due to government contracts such as Almaz-Antey witnessed 17% increase in its weapon sales majorly from the sales of S-400 to India and China

Major players in the air defense system industry are striving to provide advanced and tailored-made solutions & systems as per specific requirement of government agencies across the globe. The manufacturers are investing heavily in R&D activities in order to develop new technologies and integrate them in defense systems. Invention of hypersonic missiles & utilization of AI & drones for defense applications well exemplifies this.

Some Point from Table of Contents:

Chapter 5. Air Defense System Market, By Component
5.1. Key trends, by component
5.2. Weapon systems
5.2.1. Market estimates and forecast, 2015 - 2026
5.2.2. Turret systems
5.2.2.1. Market estimates and forecast, 2015 - 2026
5.2.3. Missile launching systems
5.2.3.1. Market estimates and forecast, 2015 - 2026
5.3. Fire control system
5.3.1. Market estimates and forecast, 2015 - 2026
5.3.2. Air defense radar
5.3.2.1. Market estimates and forecast, 2015 - 2026
5.3.3. Electro optic sensor & laser range finder
5.3.3.1. Market estimates and forecast, 2015 - 2026
5.4. Command and Control (C2) system
5.4.1. Market estimates and forecast, 2015 - 2026

Chapter 6. Air Defense System Market, By System
6.1. Key trends, by system
6.2. Missile defense system
6.2.1. Market estimates and forecast, 2015 - 2026
6.3. Anti-aircraft system
6.3.1. Market estimates and forecast, 2015 - 2026
6.4. Counter Rocket, Artillery & Mortar (C-RAM) system
6.4.1. Market estimates and forecast, 2015 - 2026

Browse complete Table of Contents (ToC) of this research report @
https://www.decresearch.com/toc/detail/air-defense-system-market

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