Research Outlines Huge Growth In Active Protection Systems Market
Posted by Sakshi Mishra on January 15th, 2020
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.
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.253 bn by 2025 from US.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.
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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.
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About the AuthorSakshi Mishra
Joined: July 22nd, 2019
Articles Posted: 530
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