Air Defense System Market Analysis, Growth & Forecast to 2024

1
Air Defense System
Market
Analysis, Growth 2024
Forecast to
According to the new market research report "Air
Defense System Market by Component (Weapon
System, Fire Control System, Command and Control
System), Type (Missile Defense System, Anti-
Aircraft System, C-Ram System), Platform (Land,
Naval, Airborne), Range, Region - Global Forecast
to 2024", The air defense system market is
projected to grow from USD 30.57 Billion in 2017
to USD 45.19 Billion by 2024, at a CAGR of 5.74
during the forecast period. Request for
customization _at_ https//www.marketsandmarkets.com/
requestCustomizationNew.asp?id248518928 Changing
nature of modern warfare is one of the most
important factors driving the demand for air
defense systems across the globe. The nature of
warfare has improved over the years with various
technological advancements taking place in the
defense sector, which has resulted in increased
defense expenditure across the globe. The
changing nature of aerial warfare across the
globe has led to the acquisition of advanced air
defense systems by various countries, which help
them defend themselves from unwanted aerial
threats. Based on platform, the naval segment of
the air defense system market is projected to
grow at the highest rate during the forecast
period. Based on platform, the naval segment of
the air defense system market is projected to
grow at the highest CAGR between 2017 and 2024.
Naval air defense capability of a ship is crucial
for its survivability. Naval air defense systems
offer complete protection against all types of
projected and known air threats. Continuous
advancements and modifications in naval air
defense systems are expected to drive the growth
of the naval segment of the air defense system
market during the forecast period. Based on
range, the long range air defense (LRAD) system
segment is estimated to account for the largest
share of the air defense system market in
2017. Based on range, the long range air defense
(LRAD) system segment is estimated to account for
the largest share of the air defense system
market in 2017. Increase in attack threats from
intercontinental
2
ballistic missiles across the globe is fueling
the growth of the long range air defense (LRAD)
system segment of the air defense system
market. Based on type, the missile defense system
segment is projected to lead the air defense
system market during the forecast period from
2017 to 2024. Based on type, the missile defense
system segment is projected to lead the air
defense system market during the forecast
period. The growth of this segment of the market
can be attributed to increased investments by
countries such as the US, China, Iran, India,
Russia, North Korea, and France for the
development of advanced missile defense
systems. The Asia Pacific region is projected
to lead the air defense system market during the
forecast period. The Asia Pacific region is
projected to lead the air defense system market
during the forecast period. Moreover, the Asia
Pacific air defense system market is projected to
grow at the highest CAGR from 2017 to 2024.
Rising incidences of insurgencies, territorial
disputes, terrorism, and unrest between
neighboring nations, along with increased defense
spending by emerging economies of the Asia
Pacific region are the factors fueling the
growth of the Asia Pacific air defense system
market. The ecosystem of the air defense system
market includes manufacturers of air defense
systems such as Saab AB (Sweden), Israel
Aerospace Industries Ltd. (Israel), Raytheon
Company (US), Thales Group (France), Lockheed
Martin Corporation (US), Hanwa Corporation (South
Korea), and BAE Systems PLC (UK), among
others. Get 10 Discount on Report
_at_ https//www.marketsandmarkets.com/discountreport
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