Global Air Defense Market: An Overview
The global air defense market report is an in-depth study of the trends, drivers, and growth forecast during 2018-2026. The market is expected to witness robust growth as rising disposable income, and increasing need for security drives defense sector around the world. Moreover, recent conflicts like the one in South China Sea are also expected to drive growth of the global air defence market in the near future. The market houses several systems including anti-aircraft systems, missile defence system, counter-RAM, and counter unmanned aerial systems. Moreover, these are also based on various platforms like sea-based, air-based, and land-based. Furthermore, short-range defence system, medium-range air defence system, and long-range defence system. The rising investment in innovation by key countries like the United States, China, Russia, France among others are expected to drive major growth for the air defence market in the near future.
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Global Air Defense Market: Notable Developments
Turkey has announced that its low-altitude anti-missile air system is ready for production. The system has successfully passed field tests and the government will place order for these. The new system named Hisar-A is automated and provides a key defence capability. The missile is ready with radar, command-control, fire-control, and communication system. It is expected to provide protection against all airborne targets in the near future, thanks to its vertical launch capability. The system is capable of being mounted on a self-propelled armoured vehicle. The system also embeds 3D radar, and an electro-optic sensor suite.
The US has announced that it will send more troops and military equipment to Saudi Arabia after the recent drone attack on the country. Saudi Arabia’s largest oil facility was attacked recently and it has led to an exacerbation of conflict between the nation and Iran. The US will be sending fighter jets as well as defense missile system to the country. The recent use of drones in the region by fringe elements also show the need for advanced defence systems to counter threats ahead of time. The growing tension in the region, and the widespread availability of drones are expected to be major concerns which will drive growth of the air defence market.
Global Air Defense Market: Drivers and Restraints
The global air defence market is expected to witness robust growth in the near future, thanks to increasing decentralization of defence in many parts of the world. Additionally, the increased investment in innovation, increasing collaborations, and rising demand for advanced technologies are expected to emerge as key trends. The growth of various futuristic possibilities like AI, 3D printing, and drones are also expected to drive more innovation and growth in the market. Technologies like 3D printing are also expected to lower costs of the weapons on one hand to increase quality. Material advancements like lightweight fibres are also expected to drive growth for the air defense market in the near future.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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