PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269759
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269759
Global Short Range Air Defense Systems Market is valued at approximately USD 12.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2022-2029. Short-range air defense systems are a type of defense equipment that deals with low-altitude aerial challenges, such as those prompted by helicopters, unmanned aerial vehicles (UAVs), and low-flying aircraft. The Short-Range Air Defense Systems market is expanding because of factors such as the rising in defense activities of nations to protect against various threats and increasing defense expenditure towards the procurement of air defense systems.
Short-range air defense systems protect public assets and people from threats such as drones and missile attacks. Its prevalence has progressively increased during the last few decades. According to Statista, in 2021, military spending worldwide amounted to USD 2.11 trillion. The United States accounted for 38% of total military spending globally. Furthermore, in 2021, the United States accounts for USD 801 billion followed by China USD 293 billion and German with USD 56 billion on the military. Another important component driving space is increasing spending on air defense systems. According to Statista, the United States led the ranking of countries with highest military spending in 2021, with USD 801 billion which accounts for 38% of the total military spending worldwide, which amounted to USD 2.1 trillion. In addition, around USD 157 billion were appropriated for the U.S.-Israeli short range Missile Defense. Also, rising technological advancement in short range air defense systems and increasing government initiatives in air defense systems would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Short Range Air Defense Systems stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Short Range Air Defense Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players and rising technological advancement in air defense systems. According to the Statista, in 2021, around 2,187 U.S. dollars per capita were spent on military causes by the United States. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising government initiatives in defense research development in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable