Overview and Scope
An air defense system refers to a system designed to neutralize or lessen the aerial threat posed by enemy manned aircraft, unmanned aerial vehicles (UAVs), smaller drones, and missiles to enhance national security. It is to detect, identify, and track potential threats and then engage and destroy them before they can cause potential damage.
Sizing and Forecast
The air defense system market size has grown strongly in recent years. It will grow from $31.55 billion in 2023 to $33.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to cold war era military buildup, missile defense systems development, threat from aerial warfare, shift from conventional to asymmetric warfare, national security imperatives.
The air defense system market size is expected to see strong growth in the next few years. It will grow to $43.56 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increased defense budgets, growing threats from unmanned systems, geopolitical instabilities, demand for multi-layered defense, shift towards directed energy weapons. Major trends in the forecast period include advancements in missile technology, rise in asymmetric warfare, drone and uav proliferation, integrated air defense networks, focus on cybersecurity.
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Segmentation & Regional Insights
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
North America was the largest region in the air defense system market in 2023. 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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Major Driver Impacting Market Growth
Rising demand due to global conflicts is expected to propel the growth of the air defense system market going forward. Conflicts refer to various forms of geopolitical and military confrontations that have prompted countries to invest heavily in air defense capabilities. Air defense systems play a crucial role in conflicts and war-like situations by safeguarding airspace and protecting against aerial threats, including missiles, drones, and aircraft. For instance, according to the Armed Conflict Location & Event Data Project (ACLED) is a US-based non-governmental organization, there were 174 instances of violent crisis recorded globally in 2022, with the full-scale Russian invasion of Ukraine escalating the war to a level that dwarfed all other conflicts in terms of scale and deadliness. Therefore, the rising demand due to global conflicts is driving the growth of the air defense system market.
Key Industry Players
Major companies are investing in the companies operating in the air defense system market to develop and integrate cutting-edge technologies. Nations and defense organizations invest in air defense systems to safeguard their territories, military assets, and civilians from airborne threats such as missiles, drones, and aircraft. Companies invest in developing these systems to meet the demands of governments seeking advanced defense capabilities. For instance, in August 2023, the Albanese Government invested in air and missile defense systems to enhance the Australian Defence Force’s (ADF) capabilities. The government has committed $765 million to deliver the Joint Air Battle Management System, which will form part of a layered, integrated air missile defense capability. This investment is part of the government’s efforts to equip the ADF with modernized capabilities and transition it into a genuine integrated force optimized for national defense.
The air defense system market report table of contents includes:
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List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Air Defense System Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Air Defense System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Air Defense System Market, Segmentation By Range, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Lockheed Martin Corporation Financial Performance
Table 76: BAE Systems plc Financial Performance
Table 77: Rheinmetall AG Financial Performance
Table 78: Thales Group Financial Performance
Table 79: Northrop Grumman Corporation Financial Performance
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