Press release
Air Defense System Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Air Defense System
How Large Will the Air Defense System Market Size By 2025?
In the recent years, there has been a significant increase in the market size of the air defense system. The market is projected to expand from $33.05 billion in 2024 to $35.25 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.6%. This growth during the historic period is mainly due to factors like the military buildup during the cold war era, evolution of missile defense systems, risk of aerial warfare, transition from conventional to irregular warfare, and the emphasis on national security.
How Big Is the Air Defense System Market Size Expected to Grow by 2029?
Anticipated to witness a robust expansion in the coming years, the market size of the air defense system is set to escalate to $45.44 billion by 2029, progressing at a compound annual growth rate (CAGR) of 6.6%. This growth during the forecast period is correlated with factors such as rising defense spending, escalating threats from unmanned systems, geopolitical uncertainties, the need for multi-tiered defense, and a shift towards directed energy weaponry. Key trends during this projected period comprise the progression in missile technology, an upsurge in asymmetric warfare, the spread of drones and UAVs, integrated air defense networks, and a heightened attention on cybersecurity.
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Which Key Market Drivers Powering Air Defense System Market Expansion and Growth?
The surge in demand fueled by worldwide conflicts is anticipated to boost the expansion of the air defense system market in the future. The term conflicts encompasses a broad range of political and military disputes that have driven nations to channel heavy investment into their air defense capabilities. Air defense systems serve an integral function in conflicts and combat scenarios, preserving airspace and defending against airborne dangers such as missiles, drones, and planes. For example, as per the Armed Conflict Location & Event Data Project (ACLED), a non-governmental organization based in the United States, there were 174 instances of violent crises documented globally in 2022, with the full-on Russian invasion of Ukraine intensifying the conflict to a scale and level of fatalities that surpassed all other disputes. Thus, the surge in demand as a result of global conflicts is fueling the growth of the air defense system market.
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Which Fast-Growing Trends Are Poised to Disrupt the Air Defense System Market?
Advancements in weapon systems construction are a trending factor gaining attention in the air defense systems market. Top companies operating in the air defense sphere are concentrating on the creation of innovative solutions to bolster their market standing. Notably, in October 2022, MBDA, the missile systems manufacturer based in France, unveiled the next-generation anti-air missile, the VL MICA NG air defense system. This newer version of VL MICA boasts improved capability to deal with unconventional targets and counter new threats with diminishing infrared and radio frequency detectability. Traditional targets like aircraft, helicopters, cruise missiles, and anti-ship missiles, already in range of the current VL MICA system, can now be intercepted from even greater distances.
What Are the Emerging Segments in the Air Defense System Market?
The air defense system market covered in this report is segmented -
1) By Type: Missile Defense System, Anti-Aircraft System, Counter Rocket, Artillery And Mortar (C-RAM) System
2) By Component: Weapon System, Fire Control System, Command And Control System, Other Components
3) By Range: Short Range Air Defense System, Medium Range Air Defense System, Long Range Air Defense System
4) By Application: Land, Naval, Airborne
Subsegments:
1) By Missile Defense System: Ballistic Missile Defense, Cruise Missile Defense, Terminal High Altitude Area Defense (THAAD), Aegis Ballistic Missile Defense
2) By Anti-Aircraft System: Short-Range Air Defense (SHORAD), Medium-Range Air Defense (MRAD), Long-Range Air Defense (LRAD), Surface-To-Air Missile (SAM) Systems
3) By Counter Rocket, Ground-Based Interception Systems, Airborne Interception Systems, Early Warning And Detection Systems, Integrated Command And Control Systems
4) By Artillery And Mortar (C-RAM) System: Ground-Based C-RAM Solutions, Integrated C-RAM Systems, Mobile C-RAM Platforms, Sensor And Detection Systems, Command And Control Systems
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Who Are the Global Leaders in the Air Defense System Market?
Major companies operating in the air defense system market include Lockheed Martin Corporation, BAE Systems plc, Rheinmetall AG, Thales Group, Northrop Grumman Corporation, Hanwha Corporation, Leonardo SPA, L3Harris Technologies Inc., Saab AB, Israel Aerospace Industries Ltd., The Boeing Company, Aselsan AS, Airbus Defence and Space, Elbit Systems Ltd., Kongsberg Gruppen ASA, Cobham Ltd., MBDA Missile Systems, Raytheon Technologies Corporation, Defense Research and Development Organization, Turkish Aerospace Industries Inc., Rafael Advanced Defense Systems Ltd., General Dynamics Corporation, Almaz-Antey Corporation, Mitsubishi Electric Corporation, Rostec State Corporation, Serco Group plc
Which are the Top Profitable Regional Markets for the Air Defense System Industry?
North America was the largest region in the air defense system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the air defense system market report during the forecast period. The regions covered in the air defense system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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