Air Defense Systems Market value to surpass USD 35 Billion-mark by 2026: Global Market Insights, Inc.

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Major air defense systems market players are Leonardo S.P.A., BAE Systems PLC, Rheinmetall AG, Thales Group, Kongsberg Gruppen, Raytheon Company, MBDA, Northrop Grumman Corporation, The Boeing Company, Aselsan A.S., and JSC Concern Vko “Almaz-Antey”.

Selbyville, Delaware, Nov. 14, 2019 (GLOBE NEWSWIRE) —

According to latest report “Air Defense Systems Market by Component (Weapon System, Fire Control System, Command & Control System), System (Missile Defense System, Anti-Aircraft System, Counter Rocket, Artillery, and Mortar System), Range (Short, Medium, Long), Application (Land, Naval, Airborne), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of air defense systems will reach $35 billion by 2026. The growth of this market can be attributed to increasing geopolitical tension in Asia Pacific and rising defense budgets & cross-border conflicts. The major defense companies are focusing on R&D activities for providing more advanced defense systems. Increasing technological advancements, such as hyper sonics missiles, counter UAVs, and automatic fire control systems, are acting as some of the major drivers for the air defense systems market revenue.

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Some major findings of the air defense systems market report include:

  • Increasing investments in R&D activities by major defense system manufacturers and system integrators in North America and Europe are supporting the air defense system market growth.
  • The demand for advanced air defense systems is increasing across the globe due to rising cross-border conflicts and territorial disputes
  • India and China are focused on expanding their defense capabilities and investing heavily in the procurement of various defense platforms, supporting the market demand.
  • Major players operating in the air defense systems market are Leonardo S.P.A., BAE Systems PLC, Rheinmetall AG, Thales Group, Kongsberg Gruppen, Raytheon Company, MBDA, Northrop Grumman Corporation, The Boeing Company, Aselsan A.S., and JSC Concern Vko “Almaz-Antey”
  • Companies are focusing on strategic collaborations and long-term contracts with government agencies to gain a competitive edge over their rivals
  • The increasing demand for counter UAVs and C-RAM system by the NATO countries is driving the air defense systems market share.

Major companies in the market are focused on providing new-age technologies, which will help in managing traditional threats and rising digitalization, resulting in cyber-related threats. For instance, Elbit Systems received a four-year contract from Diehl Defense for USD 73 million to provide J-Music Directed Infrared Counter Measure (DIRCM) system that will be integrated into A400M aircraft for the German Air Force.

Various treaties are acting as the major restraint for market demand. Design and manufacturing of the defense system & platform require significant budget and manpower, hindered by the rising regional conflicts and cross border tensions. Various governing bodies, such as the UN, NATO, EU, and UNESCO, formulate regulations to limit the regions from acquiring more defense systems after a fixed limit. For instance, the Key Arms Control Treaty encompassed major European and North American nations, limiting the development of various missile systems including nuclear weapons. In 2019, the U.S. announced its withdrawal from the treaty, which forced other nations to enhance their air defense systems.

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The increasing defense budget and growing cross border conflicts between India, China, and Pakistan are some of the major drivers for the growth of the air defense systems market value. The rising defense budget is supporting the growth of industry players and weapon suppliers across the globe. For instance, in 2018, Boeing was awarded over 20 contracts in the defense sector with a total amount of USD 13.7 billion by the U.S. Some of the major industry players experienced significant upsurge in their revenues due to government contracts such as Almaz-Antey witnessed 17% increase in its weapon sales majorly from the sales of S-400 to India and China. In 2017, Thales Group’s weapon sales increased by 7%, followed by BAE Systems and Northrop with 3.3% and 2.4% respectively.

The demand for new technology and upgrading of the existing system are contributing to the magnification of the air defense systems market. The introduction of more efficient defense platforms and upcoming technologies including the integration of AI and drones along with the application of laser to destroy incoming projectiles is the major market accelerator. For instance, in 2018, Russia portrayed a concept of developing nuclear-powered cruise missile. The missile will demonstrate an infinite target range at a cruising speed with low altitude as it will be powered by a small nuclear reactor.

Browse key industry insights spread across 330 pages with 464 market data tables & 27 figures & charts from the report, “Air Defense Systems Market 2019–2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/air-defense-system-market

Table of Contents (ToC) of the report:

Chapter 3.   Air Defense Systems Market Insights

3.1.  Introduction

3.2.  Industry segmentation

3.3.  Industry landscape, 2015 – 2026

3.4.  Market evolution

3.5.  Industry ecosystem analysis

3.6.  Technology & innovation landscape

3.6.1. Multilocation Radar Technologies

3.6.2. High Powered Lasers

3.6.3. Enhanced Aerial Jammers

3.6.4. Mobile Air Defense Integrated System

3.6.5. Space Control through Micro Satellites

3.6.6. “Bodluv”—Bodengestützte-Luft-Verteidigung

3.7.  Regulatory landscape

3.7.1. North America

3.7.2. Europe

3.7.3. Asia Pacific

3.7.4. Latin America

3.7.5. Middle East and Africa

3.8.  Industry impact forces

3.8.1. Growth drivers

3.8.2. Industry pitfalls & challenges

3.9.  Porter’s analysis

3.10.   PESTEL analysis

3.11.   Growth potential analysis, 2018

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/air-defense-system-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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2019-11-14 16:42:00

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