Air Defense Systems Market Is Estimated To Witness High Growth |...

Air Defense Systems Market Is Estimated To Witness High Growth

Posted 2023-11-03 13:45:18

The Air Defense Systems Market is estimated to be valued at US$ 14.9 Million In 2022 and is expected to exhibit a CAGR of 13.70% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Air defense systems, also known as anti-aircraft warfare systems, are used to detect and intercept any aircraft or missile posing threat to vital assets and infrastructure on land or at sea. Modern air defense systems consist of radar systems, missile launchers, command and control centers to effectively coordinate response across multiple branches of armed forces. They provide layered defense against cruise missiles, combat aircraft, drones and rockets fired from short or long range.

Market Dynamics:
The air defense systems market is expected to witness significant growth over the forecast period owing to growing geopolitical tensions leading to increased spending on defense capabilities across major economies. Significant modernization of existing air defense networks, especially in Western Europe and East Asia is also anticipated to propel market growth. Additionally, emergence of hybrid warfare tactics involving drones and rockets have prompted nations to procure advanced systems with capabilities such as counter-UAS and point defense missiles. Growing frequency of border skirmishes in the Middle East and South Asia has pushed countries to strengthen their Integrated Air Defense Networks through acquisitions of systems such as Patriot PAC-3, S-400 and Barak-8.