Press release
Active Protection Systems Market 2024 - By Size, Share, Trends, Growth Analysis And Outlook By 2033
Active Protection Systems Market
Active Protection Systems Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $5.07 billion In 2028 At A CAGR Of 6.7%.
The active protection systems market size has grown strongly in recent years. It will grow from $3.67 billion in 2023 to $3.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increasing threats and conflicts, military modernization programs, rising investments in defense, vulnerability of armored vehicles, concerns about soldier safety.
The active protection systems market size is expected to see strong growth in the next few years. It will grow to $5.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growing demand for lightweight and integrated aps, global security concerns, military modernization initiatives, increasing defense budgets, integration with future vehicle platforms. Major trends in the forecast period include advancements in interceptor technologies, growing adoption of soft-kill systems, development of next-generation hard-kill systems, integration of aps with other defensive systems, ai and machine learning integration.
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Active Protection Systems Market Major Segments
The active protection systems market covered in this report is segmented -
1) By Solution: Hardware, Software
2) By Kill System Type: Soft Kill System, Hard Kill System, Reactive Armor
3) By Platform: Land-Based, Airborne, Marine
4) By End Users: Defense, Homeland Security
Key Driver - Active Protection Systems Market Surges Amid Rising Terrorist Attacks And Threats
The rise in terrorist attacks and threats is expected to propel the growth of the active protection systems market going forward. Terror attacks are attacks that involve violence to provoke a state of terror or fear among people that attack a person or place. Active protection systems provide protection against terror attacks by enabling defense from short-range maneuverable projectiles such as sea-skimming weapons, and anti-tank-guided missiles. For instance, according to Global Terrorism Index (GTI) report published in 2021 by the Institute for Economics & Peace (IEP), an Australia-based peace institute, there is an increase in terrorist attacks worldwide to 5,226 in 2021. Further, the Ukraine-Russia conflict will drive a rise in traditional and cyber terrorism. Therefore, the rise in terrorist attacks and threats is driving the growth of the active protection systems market.
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Prominent Trend - Innovative Active Protection Systems Spearhead Growth In The Market
The development of innovative active protection systems is a key trend gaining popularity in the active protection systems market. Major companies operating in active protection systems are developing innovative protection systems to sustain their position in the market. For instance, in May 2021, ASELSAN, a Turkey-based arms manufacturing company started the development of the KAMA active protection system. The main aim of this development is to provide low-environmental damage products with a self-defense mechanism to avoid unwanted losses and consequent effects.
Active Protection Systems Market Players
Major companies operating in the active protection systems market report are Artis LLC, Aselsan A.S., JSC Konstruktorskoye Byuro Mashinostroyeniya, Krauss-Maffei Wegmann GmbH & Co. KG, Rafael Advanced Defense System Ltd., Raytheon Technologies Corporation, Rheinmetall AG, SAAB AB, Israel Military Industries Ltd., Airbus SE, Safran SA, IMI Systems Ltd., General Dynamics Corporation, Rostec State Corporation, BAE Systems plc, Leonardo S.p.A., Thales Group, KBM Group, Israel Aerospace Industries Ltd., Elbit Systems Ltd., Nexter Group SA, Denel Dynamics Ltd., ST Engineering Ltd., AVX Aircraft Company LLC, Textron Inc., Missile Systems, Battlefields and Air Defense, QinetiQ Group plc, L3Harris Technologies Inc., Kongsberg Defence & Aerospace AS, Hanwha Defense Systems Corporation .
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Largest And Fastest Growing Region In The Market
North America was the largest region in the active protection systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the active protection systems market report during the forecast period. The regions covered in the active protection systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Active Protection Systems Market Report Structure
3. Active Protection Systems Market Trends And Strategies
4. Active Protection Systems Market - Macro Economic Scenario
5. Active Protection Systems Market Size And Growth
…..
27. Active Protection Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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