Global Air Defense System Market is valued at approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Air defense systems are used as a defensive measure to protect a country against incoming targets such as missiles, air refuelers, fighter jets, unmanned aerial vehicles, and many others. Additionally, this defensive system acts as an anti-weapon system and is also used for air space surveillance with the help of its electro-optic sensors and radars. The rising defense expenditure for the advancements of air and missile defense systems, the growing need to protect regional territories, and increasing geopolitical instabilities across the globe are the key factors soaring the market demand across the globe. For instance, in March 2021, China allocated more than USD 208 billion in defense because of the country's rising political & military tensions with India and United States. Consequentially, the rising defense expenditure is propelling the demand for Air Defense systems, which, in turn, spur the market growth in the impending years. However, several issues are associated with the integration of air defense systems within existing defense systems, along with highly complex design and the need for periodic maintenance of air defense systems hinder the growth of the market over the forecast period of 2022-2028. Also, the rising technological advancements in air defense systems and increasing government support are anticipated to act as catalyzing factors for the market demand during the forecast period.

The key regions considered for the global Air Defense System Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising procurements of air defense systems and increase in geopolitical instabilities. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the rising investment in the military and defense sector, as well as growing threats of various regional conflicts, would create lucrative growth prospects for the Air Defense System Market across the Asia-Pacific region.

Major market players included in this report are:

Saab AB

Israel Aerospace Industries Ltd.

Raytheon Company

Thales Group

Lockheed Martin Corporation

Hanwa Corporation

BAE Systems PLC

Northrop Grumman Corporation

The Boeing Company

Kongsberg Gruppen

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Range:

Long Range Air Defense (LRAD) System

Medium Range Air Defense (MRAD) System

Short Range Air Defense (SHORAD) System

By Platform:

Airborne

Land

Naval

By Component:

Weapon System

Fire Control System

Command and Control System

Others

By Type:

Missile Defense System

Anti-aircraft System

Counter Rocket, Artillery, and Mortar (C-RAM) System

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Air Defense System Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors