New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Air Defense System Global Market Report 2023" - https://www.reportlinker.com/p06466468/?utm_source=GNW
, Saab AB, Israel Aerospace Industries, The Boeing Company, General Dynamics Corporation, Aselsan AS, Airbus Defence and Space, and Elbit Systems Ltd.
The global air defense system market is expected to grow from $29.49 billion in 2022 to $31.55 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The air defense system market is expected to reach $40.71 billion in 2027 at a CAGR of 6.6%.
The air defense systems market consists of sales of ground-based air defense systems, mobile ground-based air defense systems, man-portable air defense systems, and ballistic missile defense systems.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the air defense system market in 2022.Asia-Pacific is expected to be the fastest-growing region in 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 and Africa.
The main types of air defense systems are missile defense systems, anti-aircraft systems, counter rockets, and artillery, and mortar (C-RAM) systems.A missile defense system is a collection of technologies and strategies designed to detect, track, intercept, and destroy incoming missiles before they reach their intended targets and these systems can be ground-based, sea-based, or air-based, and they use a variety of methods to defend against different types of missiles, such as ballistic missiles, cruise missiles, and hypersonic missiles.
Major components are weapon systems, fire control systems, command and control systems, and others that are used in short-range air defense systems, medium-range air defense systems, and long-range air defense systems and applied in land, naval, and airborne applications.
The growing number of air-based threats is expected to propel the growth of the air defense system market going forward.Air threat refers to the whole risk that the enemy poses, specifically, the capacity to exploit vulnerabilities by using aerial threat vehicles and bombs.
Air defense systems are used in air threats to detect, identify, and track potential threats and then engage and destroy them before they can cause potential damage.Over time, the air threat expanded to include attack helicopters, unmanned aerial vehicles (UAVs), cruise, and ballistic missiles due to the expansion of air power.
For instance, in July 2021, according to the report published by the United Nations Assistance Mission in Afghanistan (UNAMA), a UN special political mission tasked with assisting the people of Afghanistan, the third most common reason for civilian casualties, accounting for 14% of all cases, were targeted killings and around 8% of civilian casualties were due to airstrikes carried out by the Afghan Air Force.The overall number of civilians killed and injured by airstrikes increased by 33% when compared to the first half of 2020.
Therefore, the growing number of air-based threats is driving the growth of the air defense system market.
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.
In July 2020, BAE Systems Plc, a UK-based security, and aerospace company acquired Raytheon Technologies Corporation for an undisclosed amount.Through this acquisition, BAE Systems Plc aims to strengthen its technology for GPS that prevents jamming and spoofing that allows for dependable navigation and guiding for a variety of defense tasks.
Raytheon Technologies Corporation is a US-based aerospace and defense company.
The countries covered in the air defense system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The air defense system market research report is one of a series of new reports that provides air defense system market statistics, including air defense system industry global market size, regional shares, competitors with an air defense systems market share, detailed air defense system market segments, market trends, and opportunities, and any further data you may need to thrive in the air defense system industry. This air defense systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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