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Air Defense System Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Lockheed Martin Corporation, BAE Systems plc, Rheinmetall AG, Thales Group, Northrop Grumman Corporation
Air Defense System Market Size
The Business Research Company offers in-depth market insights through Air Defense System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - Geopolitical Tensions Fueling Growth In Air Defense Systems Market Amid Global Conflicts
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.
Competitive Landscape:
Major companies operating in the air defense system market report are 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, Bharat Petroleum Corp. Ltd., Gazprom Neft PJSC, BP plc, Qatar Jet Fuel Company, Allied Aviation Services Inc., Chevron Corporation, Boeing Company, TotalEnergies SE, Exxon Mobil Corp., 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 .
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Top Trend - Innovation Takes Flight With Next-Generation Vl Mica Ng Air Defense System
The development of advanced weapon systems is the key trend gaining popularity in the air defense systems market. Major companies operating in the air defense market are focused on developing innovative products to strengthen their position in the market. For instance, in October 2022, MBDA, a France-based manufacturer of missile systems, introduced the VL MICA NG air defense system, a new generation anti-air missile. The new VL MICA NG system has enhanced handling capabilities for unconventional targets as well as emerging threats with decreasingly detectable infrared and radio frequency fingerprints. The conventional targets such as aircraft, helicopters, cruise missiles, and anti-ship missiles already covered by the present VL MICA system will also be able to be intercepted at greater ranges.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Air Defense System Market Characteristics
3. Air Defense System Market Trends And Strategies
4. Air Defense System Market - Macro Economic Scenario
5. Air Defense System Market Size And Growth
…..
27. Air Defense System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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