Market Overview:

The Global Air Defense Systems Market is likely to garner CAGR of 3.25% based on market value over the outlook period from 2020 to 2025.

The nature of air warfare has changed in recent years with the arrival of more deadly, agile, and untraceable threats with autonomous capabilities. As threats mount, countries are forced to protect their territories from potential adversaries at all costs, resulting in an increasing emphasis on building air defense capabilities. The market is expected to grow, mainly due to increased air threats and increased defense spending, which is facilitating both acquisition and R&D in new technologies. However, this growth is subjective to various associative factors, such as the allocation of funds, which can be adversely affected by the expected onset of an economic recession, and various technical factors that can eventually lead to program delays and cancellations program.

Recent Developments:

Saab's offer to Finland for the purchase of HX fighters includes both the Gripen E/F jet fighter and the GlobalEye airborne detection and control system.

Market Drivers and Restraints:

The global air defense systems market is expected to see robust growth in the near future, thanks to the increasing decentralization of defense in many parts of the world. Furthermore, increased investment in innovation, increased collaborations and growing demand for advanced technologies are expected to become key trends. The growth of various futuristic possibilities such as artificial intelligence, 3D printing, and drones is also likely to drive innovation and growth in the market. Technologies like 3D printing should also cut weapon costs, on the one hand, to increase quality. The surge in the call for lightweight fibers is also predicted to support growth in the air defense systems market in the future.

Impact of COVID-19 on Air Defense Systems Market:

The coronavirus pandemic has affected all aspects of life around the world. This caused some changes in the economic situation. The report covers the rapidly changing business sector situation and assessments of underlying and future effects of COVID-19 on air defense systems market.

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Report is segmented as:

By System:

Missile defence systems
Anti- aircraft systems
Counter unmanned aerial systems
Counter RAM
By Platform:

Land-based
Air-based
Sea-based
As of 2019, the land segment recorded the largest share of the air defense systems market, primarily due to the growing need to protect personnel and ground stations from incoming air threats. Several countries around the world are developing and acquiring state-of-the-art ground air defense systems.

By Range:

Long range air defense systems
Medium range air defnse systems
Short range air defense systems
By Type:

Threat detection
Countermeasures
Geographical segmentation:

Based on geography, the global air defense systems market is segregated into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these, the Asia-Pacific region is expected to dominate the air defense systems market during the forecast period. Also, the Asia Pacific air defense systems market is likely record the highest CAGR from 2020 to 2025. Increasing incidence of insurgencies, territorial disputes, terrorism and unrest between neighboring countries, as well as defense spending in emerging economies in the region are the drivers of growth in the Asia-Pacific air defense systems market.

Key market players:

The ecosystem of the air defense system market includes manufacturers of air defense systems such as Saab AB (Sweden), Israel Aerospace Industries Ltd. (Israel), Raytheon Company (US), Thales Group (France), Lockheed Martin Corporation (US), Hanwa Corporation (South Korea), and BAE Systems PLC (UK), among others.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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