By 2027, the air defense system market revenue will exceed US$40 billion: Global Market Insights Inc.

2021-12-14 16:17:52 By : Mr. Kevin Yu

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

Selbyville, Delaware, December 14, 2021/PRNewswire/ - According to the latest research by Global Market Insights Inc., the air defense system market is expected to reach $40 billion by 2027. Combined with the growing demand for advanced air defense systems, it is driving market growth. Increasing government defense spending to protect national interests from global threats will promote market expansion within the forecast period.

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Due to the COVID-19 outbreak, the demand for the air defense system market has dropped significantly. Several market factors, including suspension of manufacturing facilities, labor shortages, and disruption of raw materials and supply chains due to travel restrictions, hinder industry expansion. However, due to the decline in the number of COVID-19 cases and the introduction of vaccines to boost the economy, the government has relaxed the restrictions on the lockdown.

The ability of air defense systems to shoot down enemy aircraft is accelerating its application in the military. Some European countries are developing advanced air defense systems to enhance their aerospace safety. The air defense system will use the existing general-purpose air defense modular missiles.

Several European countries have increased their defense spending on the protection of military assets in response to rising air threats, which is driving regional growth. Countries including the Netherlands, Poland, and Ukraine are purchasing various types of countermeasure systems to strengthen the capabilities of their armies.

Some of the major companies in the air defense system market include Raytheon, Northrop Grumman, SAAB AB, Israel Aerospace Industries Ltd., Lockheed Martin, Leonardo SPA, Bae Systems PLC, Hanwha, Thailand Reitz Group, Boeing Company, Rheinmetall AG, MBDA, Aselsan AS, Kongsberg Gruppen, General Dynamics, JSC Concern Vko "Almaz-Antey" and Elibit Systems. Market participants are adopting cooperative strategies to obtain high-value government contracts.

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Some of the main findings in the air defense system market report include:

Due to the intensification of geopolitical conflicts, government spending on key weapons such as missiles and air defense weapons has increased, which will increase market demand during the forecast period

Rapid technological advancements, including anti-UAVs, supersonic missiles and automatic fire control systems, are some of the major market factors driving the development of the industry.

Countries in the Middle East and Africa, especially Saudi Arabia and the UAE, are investing heavily to expand their defense capabilities and support industry revenue for air defense systems.

The company is focusing on strategic partnerships and long-term contracts with global government agencies to gain a competitive advantage over competitors.

Report catalog (ToC):

Chapter 3 Market Insights of Air Defense System

3.2 The impact of COVID-19 on the industry landscape

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About Global Market Insight

Global Market Insights Inc., headquartered in Delaware, is a global market research and consulting service provider, providing joint and customized research reports and growth consulting services. Our business intelligence and industry research reports provide customers with insightful insights and actionable market data designed and presented to help strategic decision-making. These detailed reports are designed through proprietary research methods and can be used in key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

Arun Hegde Corporate Sales, Global Market Insights Inc., USA Tel: 1-302-846-7766 Toll Free: 1-888-689-0688 Email:

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Source: Global Market Insights Inc.

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