Short Range Air Defense System Market Growth Accelerates: Strategic Forecast Predicts $19.29 Billion by 2029

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What Will the Short Range Air Defense System Industry Market Size Be by 2025?
There has been a significant expansion in the market size of the short range air defense system in the past few years. The market, which is projected to surge from $14.75 billion in 2024 to $15.72 billion in 2025, is expected to grow at a compound annual growth rate (CAGR) of 6.5%. This growth during the historic period is due to factors such as the evolving military threat landscape, increased geopolitical tensions, terrorist threats, modernization programs, and the need for force protection requirements.

What's the Long-Term Growth Forecast for the Short Range Air Defense System Market Size Through 2029?
The market size of the short range air defense system is projected to experience substantial growth in the forthcoming years, escalating to $19.29 billion by 2029 with an annual growth rate of 5.2% (CAGR). Various factors such as asymmetric warfare, imminent threats, worldwide defense budgets, regional security concerns, and collaborative defense efforts are driving this growth during the forecast period. Noticeable trends for the forecast period encompass incorporating directed energy weapons, improving radar and sensor technologies, introducing mobile and man-portable systems, bettering interoperability and network integration, and progressing non-kinetic interception technologies.

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What Are the Key Growth Drivers Fueling the Short Range Air Defense System Market Expansion?
The surge in terrorism is projected to boost the growth of the market for short range air defense systems. Such systems find use in curbing terrorist activities by thoroughly monitoring, detecting, and containing potential aerial threats from terrorists at strategic military bases, important infrastructures, airports, or during public gatherings. A report published by the Institute for Economics and Peace, an Australian global think tank, stated in the Global Terrorism Index for March 2023 that the average death per terrorist attack moved up from 1.3 in 2021 to 1.7 in 2022. Hence, a growing rate of terrorism contributes to the expansion of the short range air defense system market. Short Range Air Defense System Market Driver: Short-Range Air Defense System Market Growth Fueled by Rising Defense Expenditures

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What Are the Key Trends Driving Short Range Air Defense System Market Growth?
Prominent businesses in the short range air defense (SHORAD) systems market are concentrating on innovating features, such as vertical launched short-range surface-to-air missile systems, to meet the needs of their clientele in a consistent manner. These vertical launched short-range systems are an advanced surface-to-air missile targeting aerial objects within a distance of 40 to 50 km and at about 15 km high. For example, Bharat Dynamics Limited (BDL), an Indian ammunition and missile systems manufacturer, in collaboration with the Defense Research and Development Organization (DRDO), a government agency from India, introduced vertical launched short-range surface-to-air missile systems (VL SR SAM) in February 2023. This system, suitable for all weather conditions and based on a ship, is employed by the navy as a point defense for rapid response to fast-sea skimming threats.

How Is the Short Range Air Defense System Market Segmented?
The short range air defense system market covered in this report is segmented -

1) By Component: Weapon System, Fire Control System, Command And Control System, Other Components
2) By Range: Short-Range (Up To 5 km), Very Short Range (Up To 2 km)
3) By Technology: Radar-Guided Systems, Electro-Optical Systems, Infrared (Eo/Ir) Systems, Jamming Technologies

Subsegments:
1) By Weapon System: Anti-Aircraft Guns, Surface-To-Air Missiles (Sams), Close-In Weapon Systems (CIWS)
2) By Fire Control System: Radar Systems, Tracking Systems, Fire Control Software
3) By Command And Control System: Communication Systems, Data Processing Systems, Command Consoles
4) By Other Components: Launch Platforms, Power Supply Systems, Sensors And Detectors

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Which Companies Are Leading the Charge in Short Range Air Defense System Market Innovation?
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.Ş., L3Harris Technologies Inc., Boeing Company, General Dynamics Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Nexter Systems, Kongsberg Gruppen, Diehl Defense GmbH & Co. KG, Bharat Electronics Limited, ASELSAN A.Ş., 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

Which Regions Are Leading the Global Short Range Air Defense System Market in Revenue?
North America was the largest region in the short range air defense system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the short range air defense system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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