Global Air Defense System Market Size To Worth USD 71.73 Billion By 2032 | CAGR of 5.09%

Global Air Defense System Market Size To Worth USD 71.73 Billion By 2032

According to a research report published by Spherical Insights & Consulting, the Global Air Defense System Market Size is to grow from USD 43.65 billion in 2022 to USD 71.73 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.09% during the projected period. 

Browse key industry insights spread across 200 pages with 145 market data tables and figures & charts from the report on "Global Air Defense System Market Size, Share, and COVID-19 Impact Analysis By Component (Weapon System, Fire Control System, Command and Control System), By Type (Missile Defense System, Anti-Aircraft System, C-Ram System), By Platform (Land, Naval, Airborne), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032)."  Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/air-defense-system-market

Air defense systems are used to defend against incoming threats such as missiles, enemy aircraft, and unmanned aerial vehicles. The air defense system acts as an anti-weapon system for all incoming air threats and is used for a variety of operations such as air space surveillance. Land-based, aerial-based, and marine-based air defense systems are used by defense forces to counter a variety of missiles, including cruise and ballistic missiles. The introduction of more lethal, covert, and nimble adversaries has changed the nature of modern warfare. As the nature of warfare has shifted, countries' defense spending has shifted, resulting in the development of numerous air defense systems. Globally, large defense corporations are investing heavily in the development of missile defense systems. Technology's constant evolution is a major driving force in the air defense system market. Advances in radar systems, command and control systems, missile defense systems, and electronic warfare capabilities improve the overall effectiveness of air defense systems. However, transporting massive, heavy equipment from one place to another remains a challenge for the market of these systems. 

The weapon system segment is expected to grow at the fastest pace in the global air defense system market during the forecast period.   

The global air defense system market is segmented by component into weapon system, fire control system, and command and control system. Among these, the weapon system segment is projected to expand at the fastest rate in the global air defense system market during the forecast period. The weapon system segment of the air defense market includes various interceptors, missiles, guns, and other weapon platforms.

The missile defense system segment is expected to grow at the highest rate in the global air defense system market during the forecast period.  

The global air defense system market is classified into three types: missile defense system, anti-aircraft system, and c-ram system. In the global air defense system market, the missile defense system segment is projected to expand at the fastest rate during the forecast period. The growing demand for missile defense in military applications, as well as the increasing use of missiles during any battle, are the primary reasons for the segmental rapid expansion.  

The land segment is expected to hold the largest share of the global air defense system market during the forecast period.     

The global air defense system market is divided into three platforms: land, naval, and airborne. The land segment is projected to account for the majority of the global air defense system market throughout the forecast period. The growing need to protect ground troops from aerial threats has increased demand for land-based air defense systems.

Asia Pacific is projected to hold the largest share of the global air defense system market during the study period.   

During the forecast period, Asia Pacific is projected to have the largest share of the global air defense system market. The growing territorial disputes in South Asia and the South China Sea have significantly increased demand for the region's air defense system market. China has border disputes with nearly all of its neighbours, which has increased demand for air defense systems among China's neighbours. Increased spending on air defense systems is being driven by increased spending on advanced and untraceable missile production. 

During the forecast period, Europe is projected to expand at the highest pace in the global air defense system market. The ongoing conflict between Ukraine and Russia has caused a surge in demand for air defense systems among Russia's neighbours, including Sweden, Finland, and Poland.

Major vendors in the Global Air Defense System Market include Hanwha Corporation, Northrop Grumman Corporation, Raytheon Company, Saab AB, Lockheed Martin Corporation, Bae Systems PLC, Thales Group, Rheinmetall AG, MBDA, Kongsberg Gruppen, Aselsan A.S., General Dynamics, L3 Harris, Elibit Systems, The Boeing Company, Israel Aerospace Industries Ltd., Leonardo S.P.A., and Others.

Recent Developments

• In August 2022, The US State Department has authorized the resupply of Patriot missile interceptors to Saudi Arabia and (THAAD) missile interceptors to the United Arab Emirates.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Air Defense System Market based on the below-mentioned segments:

Global Air Defense System Market, By Component

• Weapon System
• Fire Control System
• Command and Control System

Global Air Defense System Market, By Type

• Missile Defense System
• Anti-Aircraft System
• C-Ram System

Global Air Defense System Market, By Platform

• Land
• Naval
• Airborne

Global Air Defense System Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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