Active Protection System Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

Active protection system market is anticipated to grow at a considerable CAGR of 6.1% during the forecast period. Nowadays, emerging economies, such as China and India are expanding their armed forces owing to geopolitical conflicts and illegal cross-border activity of terrorists. Increasing defense expenditure and procurement of new generation main battle tanks drive the market growth. For instance, in February 2021, India's defense ministry and the Ordnance Factory Board (OFB) had signed a contract to provide 118 Arjun Mk-1A tanks for the Indian army. These tanks are equipped with active protection system and countermeasure systems.

An active protection system is a close-in weapon system (CIWS) that acts as the last line of defense and is deployed to prevent the incoming projectile from having a direct impact on the target. The phenomenal increase in military budgets of developing and developed nations is further supporting the growth of the active protection system market. Modernization of existing fleets in the naval and land platforms will invite promising growth for the active protection system industry. However, the high-ended maintenance cost is required to upgrade the active protection system to improve the main battle tank's defending capacity, light-protected vehicles, and amphibious armored vehicles. Therefore, the necessity to upgrade active protection system is hindering industry growth opportunities.

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Active Protection System Market Segmentation

By Platform

· Land

· Naval

· Airborne

By Kill System Type

· Soft Kill System

· Hard Kill System

· Reactive Armor

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Regional Analysis

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

Company Profiles

· Airbus S.A.S.

· Artis, LLC

· ASELSAN A.S.

· BAE Systems plc

· Elbit Systems Ltd.

· General Dynamics Corp.

· IMI Systems Ltd.

· Israel Military Industries Ltd.

· KBM Corp.

· Kongsberg Gruppen ASA

· Leonardo S.p.A.

· Rafael Advanced Defense Systems Ltd.

· Raytheon Technologies Corp.

· Rheinmetall AG

· Rostec State Corp.

· Saab AB

· Safran Group

· Thales Group

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