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Active Protection Systems Market to Witness Exponential Growth by 2025
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As per a report by Transparency Market Research, the global active protection systems market is slated to expand at a healthy CAGR of 7.1% between 2017 and 2025 to become worth US$5.253 bn by 2025 from US$2.847 bn in 2016.
Thrust on New Defense Technology Catapults North America Market
Depending upon the types of systems, the global active protection systems market can be divided into infrared decoy, radar decoy, directed energy, electro-optics jammers, light weapon defense, and rocket/missile based, among others. Of them, the radar decoy segment leads the market with maximum share and is trailed by infrared decoy segment. The others segment, consisting of DROZD active protection system, LEDS active protection system, iron curtain active protection system, iron fist active protection system, and ZASLON active protection system is also predicted to clock good growth in the years to come.
Geographically, the key segments of the global active protection systems market are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. At present, North America is a dominant market and accounts for maximum market share. In 2016, the region’s share came to around 26.8%. Supplanting of old technology with new advanced technology and growing automation in defense are predicted to be the two major growth drivers in the North America in the next couple of years.
Demand for Land Based Defense System Boosts Market
“Active Protection System (APS) can shoot down and interrupt different number of threats such as anti-tank missiles and rocket-propelled grenades with accuracy with minimum collateral damage. Active Protection System (APS) can also provide protection from these threats in various mission applications, such as fixed sites, ships and combat vehicles among others,” elaborates the lead analyst of TMR report.
Majorly fuelling the global for active protection systems market is the strong demand for land based defense system such as air and missile defense. Driving the demand for two, in turn, is the strategic system and long range in conventional targets and ballistic missile. Further, increasing demand for ballistic missile defense system will be another factor slated to boost the market in the next couple of years.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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