Air Defense System Market revenue to cross USD 40 Bn by 2027: Global Market Insights Inc.

Major air defense system market players include Raytheon Company, Northrop Grumman Corporation, SAAB AB, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Leonardo S.P.A., Bae Systems PLC, Hanwha Corporation, Thales Group, The Boeing Company, Rheinmetall AG, MBDA, Aselsan A.S., Kongsberg Gruppen, General Dynamics, JSC Concern Vko "Almaz-Antey", and Elibit Systems.

SELBYVILLE, Del., Dec. 14, 2021 /PRNewswire/ -- The air defense system market size is anticipated to record a valuation of USD 40 billion by 2027, according to the most recent study by Global Market Insights Inc. Rising geopolitical tension in tandem with growing demand for advanced air defense systems is driving the market growth. Increasing government expenditure on defense to safeguard national interest from global threats will foster the market expansion during the forecast timeframe.

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The air defense system market witnessed a significant decline in demand owing to the COVID-19 outbreak. Several market factors including suspension of manufacturing facilities, unavailability of labor, and raw material & supply chain disruptions due to travel restrictions have hampered the industry expansion. However, governments have provided some relaxation on lockdown restrictions due to a fall in the number of COVID-19 cases and the rollout of vaccines to boost the economy.

The capability of anti-aircraft defense systems to shoot down enemy aircraft is accelerating their adoption in the military. Several European countries are developing advanced anti-aircraft defense systems to strengthen their aerospace security. The anti-aircraft system will feature the existing common anti-air modular missiles.

Increasing defense spending for military asset protection by several European countries to counter the rising airborne threats is fueling the regional growth. Countries including the Netherlands, Poland, and Ukraine are procuring various types of counter-measure systems to strengthen their Army's capabilities.

Some of the major companies in the air defense system market include Raytheon Company, Northrop Grumman Corporation, SAAB AB, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Leonardo S.P.A., Bae Systems PLC, Hanwha Corporation, Thales Group, The Boeing Company, Rheinmetall AG, MBDA, Aselsan A.S., Kongsberg Gruppen, General Dynamics, JSC Concern Vko "Almaz-Antey", and Elibit Systems. Market players are adopting partnership strategies to gain high-value government contracts.

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Some key findings in the air defense system market report include:

• Increasing government expenditure to procure critical weapons, such as missiles and anti-aircraft, due to rising geopolitical conflicts, which will augment the market demand during the forecast period
• Rapid technological advancements including counter UAVs, hyper sonics missiles, and automatic fire control systems are some of the major market factors impelling the industry progression.
• The Middle East & African countries, particularly Saudi Arabia & the UAE, are investing heavily to expand their defense capabilities, supporting the industry revenue for air defense systems.
• Companies are focusing on strategic partnerships and long-term contracts with government agencies globally to gain a competitive edge over their rivals.

Table of Contents (ToC) of the report:

Chapter 3 Air Defense System Market Insights

3.1  Industry segmentation

3.2  Impact of COVID-19 on industry landscape

3.2.1  Global outlook

3.2.2  Regional impact

3.2.3  Industry value chain

3.2.3.1  Research & Development

3.2.3.2  Manufacturing

3.2.3.3  Marketing

3.2.3.4  Supply

3.2.4  Competitive landscape

3.2.4.1  Strategy

3.2.4.2  Distribution network

3.2.4.3  Business growth

3.3  Industry ecosystem analysis

3.3.1  Raw material suppliers

3.3.2  Component suppliers

3.3.3  Manufacturers

3.3.4  System Integrators

3.3.5  Distribution channel analysis

3.3.6  Buyer landscape

3.3.7  Vendor matrix

3.4  Technology & innovation landscape

3.5  Regulatory landscape

3.6  Industry impact forces

3.6.1  Growth drivers

3.6.2  Industry pitfalls & challenges

3.7  Growth potential analysis

3.8  Porter's analysis

3.9  PESTEL analysis

Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/air-defense-system-market 

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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