Air Defense System Market By Product, Technology, Application, Region – Forecast 2024
More Information @ http://bit.ly/2lZafJ9 Air Defense System Market size will witness dynamic growth owing to increase in defense expenditures in the emerging economies including, Turkey, South Korea, India and China.
More Information @ http://bit.ly/2lZafJ9
Air Defense System Market size will witness dynamic growth owing to increase in defense expenditures in the emerging economies including, Turkey, South Korea, India and China.
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<strong>Air</strong> <strong>Defense</strong> <strong>System</strong> <strong>Market</strong> share research by<br />
applications and regions for 2017-<strong>2024</strong>: Global<br />
<strong>Market</strong> Insights, Inc.<br />
<strong>Air</strong> defense system market is available in various type including, Long range,<br />
medium range and short range. Increasing attack threats from intercontinental<br />
ballistic missiles worldwide is fueling growth of long-range segment. The<br />
development of this segment can be attributed to introduction of innovative<br />
technologies for medium & short range and guided missile systems.<br />
Naval segment will witness fastest growth as it offers complete protection against<br />
several types of projected & known air threats. Continuous modification and<br />
advancements in naval segment are anticipated to drive industry growth during the<br />
forecast period.<br />
Rising research & development activities for the development of air defense systems<br />
which includes both long-range weapon systems and advanced radar is expected to<br />
propel industry growth during forecast period.<br />
Rise in number of terrorist attacks and increase in government spending for<br />
strengthening the defence sector for safeguarding borders are major factors<br />
propelling air defence system market. Further, rise in extremist activities, particularly<br />
in developing countries will provide lucrative opportunities for industry growth. Rising<br />
need for newer devices and gadgets with continuous technological advancement is<br />
likely to support the industry growth.<br />
North America, dominated by the U.S. for air defense system market is likely to<br />
remain the largest industry owing to high defense spending by the U.S. government.<br />
Besides, growing involvement of the U.S. military in the middle east regions<br />
including, Iraq & Syria and rising concern over the terrorist attacks are few of the key<br />
drivers for the industry growth in the region.<br />
The product contains weapon, fire control and command & control system. Further,<br />
there are several types of air defense system that includes, missile, anti-plane and<br />
counter rocket, artillery & mortar (C-RAM). Missile segment is likely to lead the<br />
industry due to increased investments by the countries including, the U.S., France,<br />
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North Korea, Russia, India, China and Iran for development of the advanced missile<br />
defense systems.<br />
Asia Pacific air defense system market is anticipated to exhibit significant growth as<br />
the countries are strengthening their defense system with continuous increment in<br />
the government spending. Hostile relations between some of the countries in Asia<br />
including, South Korea, China, India and Pakistan is the chief reason behind high<br />
investment on the product in the region.<br />
Global air defense market is moderately consolidated with presence of few market<br />
leaders in the industry. Some of the key players include Saab AB, Israel Aerospace<br />
Industries, Raytheon, Thales Group, Lockheed Martin Corporation, Hanwa<br />
Corporation and BAE <strong>System</strong>s.<br />
The industry is highly competitive where vendors are competing based on<br />
aftermarket service, reliability, cost and product quality. The manufacturers must<br />
provide high quality interceptors and cost-effective solutions that is equipped with<br />
latest technologies. Also, key vendors generally have a competitive edge over local<br />
and regional vendors in terms of research & development initiatives, innovative<br />
technology, strong client base, product offerings and in-house manufacturing<br />
capabilities. The industry is expected to observe mergers & acquisitions, coupled<br />
with increased collaboration with the alliance partners worldwide during forecast<br />
period.<br />
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