Asia-Pacific Air Defense Systems Market: By Key Players, Market Size, Deployment Type, Applications, Vertical, and Forecast: 2022-2031

The Asia-Pacific air defense systems market is projected to grow with a CAGR of more than 7% during the forecast period.

– The increasing geopolitical conflicts and border tensions between the neighbouring countries in the region are forcing them to increase their military expenditure. This increase in military expenditure is propelling the investments into air defense systems, which is generating demand for the air defense systems market in the Asia-Pacific region.
– With advancements in technology like the development of advanced threats like hypersonic missiles, there is a growing need for better air defense systems. Due to this growing requirement, companies are developing advanced threat detection systems and countermeasures systems to counter UAVs, aircraft, missiles and rocket, artillery, and mortar threats. Such developments are expected to accelerate the growth of the market in the coming years.

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Key Market Trends

The Land Segment of the Market has Highest Share in 2019

The land segment of the market currently dominates the market and is expected to continue its dominance in the market during the forecast period. This is mainly due to increased investments of the countries against a wide range of threats like missiles (ballistic and cruise), aircraft, UAVs, rockets, artillery, and mortars. For instance, in April 2018, Rheinmetall received a contract worth USD 125 million (EUR 100 million), to supply Skyshield air defense systems to an undisclosed customer in the Asia-Pacific region. Also, to enhance its ground defense capabilities, the Department of National Defense (DND) of the Philippines received Special Allotment Release Order (SARO) for its Ground-Based Air Defense System (GBADS) Acquisition Project in June 2019. In early 2019, the DND of Philippines announced its plan to acquire SPYDER (Surface-to-air PYthon and DERby) air defense system from Rafael Advanced Defense Systems. Similar investments from various countries for the protection of their land borders is expected to propel the growth of the market during the forecast period.

China is Expected to Witness the Highest CAGR During the Forecast Period

China is expected to witness the highest growth in the air defense market during the forecast period. The growing military spending of the country fueled by the geopolitical tensions and border disputes of the country with its neighboring countries is driving the investments into the procurement of advanced air defense systems. The country is the highest defense spender in the Asia-Pacific region with military spending of USD 261 billion in 2019. Further in May 2020, the government of China announced a military budget of USD 178 billion with an increase of 6.6% compared to the previous year. China has recently conducted a technical inspection of the second batch of S-400 air defense systems from Russia. The country is currently focused on indigenously manufacturing of new air defense systems. Earlier in 2018, the country unveiled new FM-2000 short-range air defense missile system at the AirShow China 2018. Such developments are anticipated to bolster the growth of the market

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Competitive Landscape

Some of the prominent players in the Asia-Pacific Air Defense Systems Market are Almaz-Antey, Israel Aerospace Industries Ltd., Raytheon Technologies Corporation, Leonardo S.p.A., and Hanwha Defense. The market is dominated by international and regional air defense system manufacturers equally. Further, in the coming years, the market share of regional players is expected to increase due to increased investments of the governments to support local manufacturing. For instance, in India, under the Indian Ballistic Missile Defense Program, Defense Research and Development Organization (DRDO) is indigenously developing multi-layered ballistic missile defense system against the incoming threats. Also, to increase their presence and share in the market, the companies are investing heavily in research and development of advanced air defense systems with better detection and countermeasure systems.

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