Short Range Air Defense System Market to Reach $21.1 Billion by 2031: Says Allied Market Research

Rise in conflicts and war-like situations across different parts of the world and increase in safety measures toward national assets and citizens against threats such as drones and missile attacks drive the growth of the global short range air defense system market. By component, the weapon system segment held the major share in 2021. By region, Asia-Pacific would cite the fastest CAGR by 2031.


Portland, OR, Jan. 16, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global short range air defense system market was estimated at $12.4 billion in 2021 and is expected to hit $21.1 billion by 2031, registering a CAGR of 5.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report Coverage & Details:

Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $12.4 Billion
Market Size in 2031 $21.1 Billion
CAGR 5.6%
No. of Pages in Report 220
Segments Covered Component, Type, Platform, and Region.
Drivers Rise in conflicts and war-like situations across different parts of the world
Increase in safety measures toward national assets and citizens against threats such as drones and missile attacks
Restraints Several budget constraints
Less contribution from the government in underdeveloped countries
Opportunities Surge in the deployment of air defense systems for protection from air attacks

Covid-19 scenario-

  • Several trade restrictions, revenue crisis, and raw material scarcity were the major factors that had a negative impact on the global short range air defense system market.
  • Many organizations postponed their ADS-related projects and programs, which aggravated the scenario even more. However, the market has now recovered at a slow and steady pace.

The global short range air defense system market is analyzed across component, type, platform, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By component, the weapon system segment held the largest share in 2021, garnering nearly two-fifths of the global short range air defense system market revenue, and is projected to maintain its dominance by 2031. The common and control system segment, on the other hand, would showcase the fastest CAGR of 6.7% during the forecast period.

By type, the missile defense system segment contributed to around two-fifths of the global short range air defense system market share in 2021, and is projected to rule the roost by 2031. The Counter Rocket, Artillery, and Mortar (C-RAM) system segment, however, would display the fastest CAGR of 6.6% throughout the forecast period.

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By platform, the vehicle mounted segment accounted for the highest share in 2021, generating nearly three-fifths of the global short range air defense system market revenue. The same segment would also portray the fastest CAGR of 6.0% during the forecast period.

By region, North America held the major share in 2021, garnering nearly two-fifths of the global short range air defense system market revenue. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 7.1% from 2022 to 2031.

The key market players analyzed in the global short range air defense system market report include Airbus, General Dynamics Corporation, Thales, Northrop Grumman Corporation, Systems plc, Boeing Company, Lockheed Martin Corporation, Elbit Systems Ltd., L3Harris Technologies, Inc., and Raytheon Technologies Corporation. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players. 

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