Press release
Air Defense Systems Market Size, And Forecast | Key Players: BAE Systems., Leonardo S.p.A., Saab AB, IAI
Air Defense Systems Market
The nature of modern warfare has changed with the arrival of more lethal, stealthy, and agile threats. Such change in nature of warfare has enabled countries to invest in defensive expenditure, which has resulted in the development of various air defense systems. Air defense systems are used to take defensive measures to nullify incoming targets such as enemy’s aircraft (fighter jets, air refuelers, and so on), missiles (both nuclear & conventional), and unmanned aerial vehicles. The air defense system acts as a anti weapon system for all incoming air threats and is also used for several operations, including air space surveillance with the help of its radars & electro-optic sensors. At present, major companies across the globe are investing heavily in the advancement of air defense systems. For instance, in 2018, Lockheed Martin (an aerospace & defense company, headquartered in Washington U.S.A) invested 1.3 billion USD in R&D of air defense systems.
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COVID-19 Scenario analysis:
Due to COVID-19 situation,the R&D in air defense system has been hampereddue to the declared lockdowns and government restrictions on public gatherings.
Slowing sign in economies of several countries has been observed due to COVID-19 effect, which may limit governments investment in the defense projects. Such reduction in investment will directly affect growth in the air defense system market.
Travel restrictions and reduction in military activities due to COVID-19 has also adversely affected growth of rocket propulsion market, as demand for supportive weapons such as missiles are also affected.
Demand may rise extensively in global air defense systems market in upcoming quarter as industry’s production has started to get momentum after tough phase of COVID-19.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in defense expenditure for the development of air defense systems, increase in procurements of air defense systems, changing nature of warfare, and growth in geopolitical instabilities across the globe are some of the major factors that drive the growth of the global air defense systems market. However, high costs involved in the development of air defense systems and international policies regarding transfer of weapons are restraining the growth of the air defense systems market.Contrarily, technological advancement in the air defense systemsis expected to contribute further in the growth of global air defense systems market.
Increase in procurements of air defense systems
Due to rise in regional conflicts between countries & for security needs, several countries are procuring advance air defense systems for their defense forces. For instance, in July 2019, Turkey has started receiving parts of air defense system, named S-400 from Russia. Moreover, India is expected to start receiving S-400 systems from end of 2021, which is the part of India’s 5.43 billion USD deal with Russia for the 5 S-400 regiments. Hence, such increase in procurement of air defense systems by several countries will drive the growth of the global air defense systems market.
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Key benefits of the report:
This study presents the analytical depiction of theair defense systems industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global air defense systems market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global air defense systems market growth scenario.
Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.
The report provides a detailed global air defense systems market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the air defense systems market research report:
Which are the leading market players active in the global air defense systems market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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