Press release
Active Protection System Market to Reach a CAGR of 8.14% by 2030 | Airbus Group, ASELSAN A.S., IMI Systems, The Raytheon Company
Active Protection System Market
The prominent players in Active Protection System Market are Artis LLC, Airbus Group, ASELSAN A.S., IMI Systems, Rheinmetal AG, Rafael Advanced Defense Systems Ltd., The Raytheon Company, Safran Electronics & Defense, Saab AB
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February 2021-Lockheed Martin Corporation and the US Army have signed a contract with a valuation of USD 30 million to provide a combat vehicle protection system for the US army. According to this contract, Lockheed Martin Corporation provides the modular APS to the US army. This modular system provides vehicle sensors to detect, protect, track and destroy rocket-propelled grenades aimed at combat vehicles.
February 2021-BAE Systems Hagglunds and Israeli form Elbit systems had signed a contract with a valuation of USD 82 million to provide an active protection system for the Royal Netherlands Army.
North America to Dominate the Market
On the other hand, Europe dominates the active protection system market due to an increase in the spending on advanced airborne targeting systems by countries, such as the UK, France, and Russia, and the upgrades and procurement of targeting pod-based aircraft in this region. Asia-Pacific is the expected region in terms of growth in the active protection system market due to the rise in the price of radar systems in this region.
Asia Pacific market is projected to increase at a significantly high pace over the forecast period, due to factors such as geopolitical instability in countries of the region, rapid automation of defense systems, and continuous improvement in warfare platforms with the introduction of new and advanced technologies. However, rising prices of radar systems are a major factor expected to hinder the market in the region in the near future.
Active Protection Systems are defined as next-generation systems which defend automatically in opposition to enemies for threatening them without loading the vehicle with heavy weapons. This protection system is used for detecting and neutralizing the threat projectiles before the target reaches them.
Growth in the Active Protection System Market can largely be attributed to factors such as Rise in the geopolitical instabilities. Furthermore, the factors which will help the market to escalate its growth are the Automation of defense systems, rising geopolitical instabilities, and increasing demand for the development of secured networks against cyber-attacks
On the other hand, a rise in cyber warfare affects the performance of technologically advanced defense platforms, and a rise in the development cost of radar systems may hamper the growth of the market.
The outbreak of COVID-19 has severely impacted defense, aerospace, aviation, and other related industries. The emergence of the COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption is expected to leave an impact on the defense industry through mid-2021. With the rising concern for the health of the general public, governments across nations are focused on investments in healthcare and related industries and there has been a shift of budget allocation from defense to healthcare. However, the pandemic has proved that careful coordination is required between all border agencies to ensure effective security measures. Moreover, demand for defense-related products such as Active Protection System systems will remain unaffected as the budgets for defense-related projects had been allocated prior to the pandemic and the projects are extremely critical to national defense.
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Active Protection System Market: Table of Contents
Active Protection System Market is segmented into various segments such as end-user, platform, kill system type, and region:
On the basis of end-user
Defense
Homeland Security
On the basis of the platform
Land
Naval
Airborne
On the basis of the kill system type
Soft kill system
Hard kill system
Reactive amour
On the basis of region
Asia Pacific
North America
Europe
South America
Middle East & Africa
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