Active Protection Systems Market Growth, Share, Demand and Analysis of Key Players to 2025
Some
of the prominent participants operating in the global active
protection systems market are SAAB AB, The Raytheon Company, Airbus
Group, KONSTRUKTORSKOYE BYURO MASHYNOSTROYENIYA, Rafael Advanced
Defense Systems Ltd., Rheinmetall AG, Safran Electronics &
Defence, Aselsan A.S., Artis, LLC, and Israel Military Industries.
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Report:
As
per a report by Transparency Market Research, the global active
protection systems market is slated to expand at a healthy CAGR of
7.1% between 2017 and 2025 to become worth US$5.253 bn by 2025 from
US$2.847 bn in 2016.
Thrust
on New Defense Technology Catapults North America Market
Depending
upon the types of systems, the global active protection systems
market can be divided into infrared decoy, radar decoy, directed
energy, electro-optics jammers, light weapon defense, and
rocket/missile based, among others. Of them, the radar decoy segment
leads the market with maximum share and is trailed by infrared decoy
segment. The others segment, consisting of DROZD active protection
system, LEDS active protection system, iron curtain active protection
system, iron fist active protection system, and ZASLON active
protection system is also predicted to clock good growth in the years
to come.
Geographically,
the key segments of the global active protection systems market are
North America, Latin America, Asia Pacific, Europe, and the Middle
East and Africa. At present, North America is a dominant market and
accounts for maximum market share. In 2016, the region’s share came
to around 26.8%. Supplanting of old technology with new advanced
technology and growing automation in defense are predicted to be the
two major growth drivers in the North America in the next couple of
years.
Demand
for Land Based Defense System Boosts Market
“Active
Protection System (APS) can shoot down and interrupt different number
of threats such as anti-tank missiles and rocket-propelled grenades
with accuracy with minimum collateral damage. Active Protection
System (APS) can also provide protection from these threats in
various mission applications, such as fixed sites, ships and combat
vehicles among others,” elaborates the lead analyst of TMR report.
Majorly
fuelling the global for active protection systems market is the
strong demand for land based defense system such as air and missile
defense. Driving the demand for two, in turn, is the strategic system
and long range in conventional targets and ballistic missile.
Further, increasing demand for ballistic missile defense system will
be another factor slated to boost the market in the next couple of
years.
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