Ocean View, DE -- (SBWire) -- 06/23/2020 --With rising technological advancements in counter UAVs, fire control systems, and hyper sonics missiles, the air defense system market is projected to experience tremendous growth in the forthcoming years.
Expansion of this market can also be attributed to growing geopolitical tension in the APAC and rising cross-border disputes and defense budgets. Furthermore, rising investments in activities of R&D by major defense companies are likely to further fuel the global air defense system market share by 2026.
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Increasing focus on tacking cyber security threats has led defense companies to develop next-gen technologies. Citing an instance, Elbit Systems bagged a four-year, USD 73 million contract from Diehl Defense to deliver J-Music DIRCM (Directed Infrared Counter Measure) system which will be assembled into German Air Force A400M airplanes.
The Major Key Players in the Air Defense System Market are as Follows:
Saab AB, Israel Aerospace Industries Ltd., Lockheed Martin, Leonardo S.P.A., BAE Systems, Rheinmetall AG, Thales Group, Kongsberg Gruppen, Raytheon, MBDA, Northrop Grumman, The Boeing Company, Aselsan A.S., JSC Concern Vko
However, multiple treaties and defense system regulations enforced by governing organizations like NATO, UN, UNESCO, and the EU may impact air defense system market growth. These regulations intend to limit conflicting countries from having excessive defense equipment after a point. Reportedly, the Key Arms Control Treaty, signed by major North American and European countries, restricted the development of missile systems including nuclear weapons. However, in 2019, the United States backed out from the treaty, forcing other countries to improve their air defense systems.
Growing need to upgrade existing defense system and a rising inclination towards adopting new technologies have massively contributed to the growth of air defense system market. Advent of more efficient technologies such as artificial intelligence in drones and implementation of lasers to destroy inbound projectiles would improve systems offering. Reportedly, in 2018, Russia displayed its concept of nuclear-powered cruise missile. As per experts, this missile would be powered by a small nuclear reactor which would allow it to demonstrate an infinite target range at low altitude with cruising speed.
The average investment by major defense companies in R&D activities is more than 10% of their total revenue. Limited contract opportunities and a smaller limited client base is likely to turn the market more competitive. For instance, R&D expenditure of BAE System's has risen from USD 2.02 billion in 2016 to USD 2.18 billion in 2017 and to USD 2.26 billion in 2018. Also, the R&D expenditure of Raytheon increased by 20% in 2018 as compared to its expenditure in 2017.
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Major players in the air defense system market are striving to provide advanced and tailored-made solutions & systems as per specific requirement of government agencies across the globe. The manufacturers are investing heavily in R&D activities in order to develop new technologies and integrate them in defense systems. Invention of hypersonic missiles & utilization of AI & drones for defense applications well exemplifies this.
Some Points From Table Of Content: -
Chapter 5. Air Defense System Market, By Component
5.1. Key trends, by component
5.2. Weapon systems
5.2.1. Market estimates and forecast, 2015 – 2026
5.2.2. Turret systems
5.2.2.1. Market estimates and forecast, 2015 – 2026
5.2.3. Missile launching systems
5.2.3.1. Market estimates and forecast, 2015 – 2026
5.3. Fire control system
5.3.1. Market estimates and forecast, 2015 – 2026
5.3.2. Air defense radar
5.3.2.1. Market estimates and forecast, 2015 – 2026
5.3.3. Electro optic sensor & laser range finder
5.3.3.1. Market estimates and forecast, 2015 – 2026
5.4. Command and Control (C2) system
5.4.1. Market estimates and forecast, 2015 – 2026
Chapter 6. Air Defense System Market, By System
6.1. Key trends, Air Defense System Market by system
6.2. Missile defense system
6.2.1. Market estimates and forecast, 2015 – 2026
6.3. Anti-aircraft system
6.3.1. Market estimates and forecast, 2015 – 2026
6.4. Counter Rocket, Artillery & Mortar (C-RAM) system
6.4.1. Market estimates and forecast, 2015 – 2026
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Air Defense System Market 2020 Global Analysis by Key Players – Lockheed Martin, BAE Systems, Thales Group, Raytheon, MBDA, Northrop Grumman, the Boeing Company
With rising technological advancements in counter UAVs, fire control systems, and hyper sonics missiles, the air defense system market is projected to experience tremendous growth in the forthcoming years.