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Short Range Air Defense System Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Israel Aerospace Industries, Saab AB, BAE Systems plc, Lockheed Martin Corporation, Thales Group
Short Range Air Defense System Market Characteristics
The Business Research Company offers in-depth market insights through Short Range Air Defense System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The short range air defense system market size has grown strongly in recent years. It will grow from $13.81 billion in 2023 to $14.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to military threat landscape, geopolitical tensions, terrorist threats, modernization programs, force protection requirements..
The short range air defense system market size is expected to see strong growth in the next few years. It will grow to $18.34 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to asymmetric warfare, emerging threats, global defense budgets, regional security concerns, collaborative defense initiatives.. Major trends in the forecast period include integration of directed energy weapons, advancements in radar and sensor technologies, development of mobile and man-portable systems, enhanced interoperability and network integration, development of non-kinetic interception technologies..
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Market Segmentation:
The main component types of short-range air defense systems are weapon systems, fire control systems, command and control systems, and others. Weapon system refers to a combination of interconnected components, including weapons, support equipment, electronics, and personnel, that work together to achieve a specific military or defense objective. The various ranges include short-range (up to 5 km), and very short-range (up to 2 km) with various technologies such as radar-guided systems, electro-optical systems, infrared (eo/ir) systems, and jamming technologies.
Major Driver - Increased Terrorism Driving Growth of Short Range Air Defense System Market
The increased terrorism is expected to propel the growth of the short range air defense system market going forward. Terrorism refers to violence or the threat of violence to instill fear and achieve political, ideological, religious, or social objectives with the aim of creating an atmosphere of fear and panic targeting civilians. Short range air defense systems are used to prevent terrorist activities by detecting, tracking, and mitigating the aerial threats from terrorists at military bases, critical infrastructure, airports, or public events. For Instance In March 2023, according to the Global Terrorism Index, a report published by the Institute for Economics and Peace, an Australia based global think tank, There were an average of 1.3 deaths per terrorist attack in 2021, and it has increased to an average of 1.7 people per attack in 2022. Therefore, increased terrorism is driving the growth of the short range air defense system market.
Competitive Landscape:
Major companies operating in the short range air defense system market report are Israel Aerospace Industries, Saab AB, BAE Systems plc, Lockheed Martin Corporation, Thales Group, RTX Corporation, Rheinmetall AG, MBDA Inc., Leonardo S.p.A., Elbit Systems Ltd., Kongsberg Gruppen, ASELSAN A.S., L3Harris Technologies Inc., Boeing Company, General Dynamics Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Nexter Systems , Kongsberg Gruppen, Diehl Defence GmbH & Co. KG, Bharat Electronics Limited, ASELSAN A.S., Norinco Group, Hensoldt AG, Denel Dynamics, Rafael Advanced Defense Systems Ltd., Israel Aerospace Industries, Avibras Indústria Aeroespacial S/A, LIG Nex1 Co. Ltd., Thales Group, Almaz Antey Corporation
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Top Trend - Increasing Focus On Product Innovation To Provide Reliable Services To Their Customers
Major companies operating in the short range air defense (SHORAD) systems market are focusing on innovations, such as vertical launched short-range surface-to-air missile systems, to provide reliable services to their customers. Vertical launched short-range surface to air missile systems is a next generation surface-to-air missile designed for airborne targets within a range of 40 to 50 km and at an altitude of around 15 km. For instance, in February 2023, Bharat Dynamics Limited (BDL), an Indian-based manufacturer of ammunition and missile systems, and the Defence Research and Development Organization (DRDO), an Indian based government agency, launched vertical launched short- range surface-to-air missile systems (VL SR SAM). This is a ship-based and all-weather air defense system. It is used by the navy as a point defense with quick reaction against fast-sea skimming threats.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Short Range Air Defense System Market Characteristics
3. Short Range Air Defense System Market Trends And Strategies
4. Short Range Air Defense System Market - Macro Economic Scenario
5. Short Range Air Defense System Market Size And Growth
…..
27. Short Range Air Defense System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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