Americas Air Defense Systems Market to Grow with a High CAGR- Global Industry Analysis, Market Size, Key Manufacturers, Trends, Size, and Forecast: 2022-2031

The Americas air defense systems market is anticipated to register a CAGR of over 6% during the forecast period.

– The nature of warfare has changed in recent years with the advent of more lethal, agile, and untraceable air-based threats having autonomous capabilities. The potential adversaries of the US are developing advanced aerial weapons, which is propelling the country to safeguard its territory from these challenging threats at any cost, due to which the emphasis on enhancing the air defense capabilities increased in recent years.
– Apart from the US, countries in the region are prone to various air-based threats and lack advanced air defense systems to protect their huge territories and military assets. This underlying demand is expected to generate opportunities for air-defense systems manufacturers in the region in the years to come.

Access Full Report, here:

Key Market Trends

Air-based Segment is Expected to Grow with the Highest CAGR during the Forecast Period

In segmentation by Platform, the Air-based segment is expected to grow with the highest CAGR during the forecast period. There is a growing procurement of aerial threat detection radars and air-to-air missiles to achieve air dominance and battlefield advantage in aerial dogfights. Fighter jets and attack helicopters are being equipped with advanced sensors and weapon systems, primarily to detect and intercept aerial threats. For instance, in June 2019, the European company MBDA announced that it has won a USD 225 million contract to supply 100 Meteor air-to-air missiles to be equipped on Brazilian Gripen NG fighters.

The missile offers a multi-shot capability against long-range maneuvering targets, jets, UAVs, and cruise missiles in a heavy electronic countermeasures (ECM) environment, with a range exceeding 100 km (62 miles). The aircraft equipped with these systems are expected to be commissioned by the Brazilian Air Force in 2021 or 2022. Similarly, several countries are developing or ordering advanced air-launched missiles and aerial radars to detect and neutralize aerial threats, many of which are scheduled to enter service during the forecast period. Such developments are expected to drive the air-based segment of the market during the forecast period.

Ask for it and browse full report:

North America is Expected to Dominate the Market During the Forecast Period

During the forecast period, North America is projected to dominate the market by growing with the highest CAGR. The region also accounted for the highest market share in 2019. The US is the prime demand generating market for air defense systems in North America. The enhancement in the capabilities of the potential adversaries of the US is forcing the country to increase its investment in technologically advanced air defense systems. Other factors, such as the growing geopolitical tensions and terrorism and the engagement of the US in various global conflicts, significantly contributed toward the growth of the procurement of air defense systems by the US armed forces. In February 2020, the current US president proposed an FY 2021 budget of USD 740.5 billion for national security, of which USD 705.4 billion is allocated for the Department of Defense (DoD). With a high military spending and the potential adversaries fielding an increasingly diverse, expansive, and modern range of regional offensive weapon systems that can threaten the US forces, its allies, and partners, the US DoD is actively expanding and modernizing the US regional air defenses. In April 2020, the US Missile Defense Agency (MDA) disclosed its plans to modernize and sustain the currently deployed missile defense systems that have been specifically designed to neutralize incoming ICBM threats. Developed by Boeing under a USD 6.6 billion contract spanning till 2023, the Ground-based Midcourse Defense System (GMD) comprises more than 44 ground-based interceptors buried in silos in the ground along with ground control stations, detection and fire control systems, and other support infrastructure. Likewise, the US is adding several aerial threat detection and countermeasure systems into its arsenal, which are expected to bolster the market prospects in North America during the forecast period.

Competitive Landscape

Some of the prominent players in Americas Air Defense Systems Market are Raytheon Technologies Corporation, Northrop Grumman Corporation, The Boeing Company, Lockheed Martin Corporation, Israel Aerospace Industries, among others. The market is witnessing a significant investment in research and development of advanced air-defense systems. To cater to the increasing demand for interceptor missiles and air defense systems, defense contractors are forming strategic partnerships to enhance their technical capabilities. For instance, in March 2020, Lockheed Martin awarded a contract to BAE Systems to design and manufacture a next-generation seeker for the Terminal High Altitude Area Defense (THAAD) weapon system, fielded by the US Army. Such collaborations will help the players in attracting new customers and increase their market presence and share in the region during the forecast period.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
– 3 months of analyst support

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐏𝐨𝐬𝐭𝐬:

Technetium-99m Market
Synthetic Absorbable Sutures Market
Respiratory Disorders Treatment Market
Vascular Closure Devices Market
Liposome Drug Delivery Market
Learning Disabilities Treatment Market
Von Willebrand Disease Treatment Market
Smart Diabetes Management Market

Leave a Reply

Your email address will not be published. Required fields are marked *