Press release
Ground Defense System Market Anticipated to Attain $79.16 billion By 2030, at 5.2% CAGR
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Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. The U.S. dominated the global ground defense system market share in North America in 2020, owing to increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making reliable, precise, and efficient ground defense systems. North America is expected to grow at a significant rate during the forecast period, owing to rise in adoption of ground defense system along with its huge defense spending and the presence of major defense equipment manufacturers such as BAE Systems Plc., Northrop Grumman Corporation, and Raytheon Technologies Corporation.
By application, the ground defense system market is segregated into combat, logistics & transportation, surveillance & reconnaissance, intelligence & data warfare, training, and others. The combat segment accounted for the highest revenue in 2020, owing to high demand for combat ground defense systems, as they are critical for the success of military operations.
On the basis of operation, the market is bifurcated into manned and unmanned. The manned segment garnered the highest revenue in 2020, owing to high demand for a number of precise, long- & short-range manned weapon systems, armored vehicles, and other equipment to safeguard the national assets throughout the globe.
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Depending on end user, the ground defense system market is fragmented into defense intelligence, military, and law enforcement. The military segment was the highest revenue contributor in 2020, owing to rise in defense spending for modernization of military forces throughout the world.
Covid-19 Impact Analysis
The COVID-19 impact on the ground defense system market is unpredictable and is expected to remain in force till the second quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of raw materials items for most of 2020. This led to sudden fall in the availability of important raw materials for manufacturing ground defense equipment.
Moreover, nationwide lockdowns forced parts manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of modern ground defense systems globally.
Key Findings Of The Study
By application, the combat segment is expected to register a significant growth during the forecast period.
On the basis of operation, the unmanned segment is anticipated to exhibit significant growth in future.
Depending on end user, the military segment is projected to lead the global ground defense system market.
Region wise, North America is anticipated to register the highest CAGR during the forecast period.
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Market Key Players
The key players operating in the global ground defense system market include BAE Systems plc, Israel Aerospace Industries Ltd., Kongsberg Gruppen ASA, Lockheed Martin Corporation, MBDA, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Rheinmetall AG, and Thales Group.
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