National Security is major concern of all countries of the world to protect themselves from attacks from enemy nations, terrorists and other harmful forces. Active protection systems are capable of taking down and neutralize threats like rocket-propelled grenades and anti-tank missiles. Moreover, they do it with a high of accuracy which minimizes fatal damage. Active protection system can also provide protect from these different applications, such as ships combat vehicles, and fixed sites among others. Utilization of Active Protection System has become essential for security and gaining popularity eventually.
In the year 2016, Global Active Protection System Market was valued at USD 3.9 Billion. By the year 2025, it is estimated to reach USD 6.1 Billion at growing pace of CAGR of 6.5%.
Drivers and Restraints:
Global Active Protection System Market is estimated to grow in forecasted period owing to supporting factors such as increasing demand for land based defense system, and demand for ballistic defense system, government’s efforts for increasing their national security fleets strength, and need for advanced equipment to counter strike enemy as well as harmful forces. In addition, automation and modernization of existing fleets is estimated to support the market growth. However, there are several restraining factors of the market, which includes increasing prices of radar systems and less disposable and per capita incomes of the some nations.
Based on geography the Global Active Protection System Market primarily segmented into Europe, North America, Latin America, Middle East & Africa, and Asia Pacific regions. North America is estimated to have highest share of the market and alone contributed USD 812 Million to the market in 2017. In this region United States accounted for major part of the share. The Asia Pacific region is also expected witness significant growth in market and is expected to lead the market due to modernization of existing fleets and expanding of defense system. Asia Pacific region is estimated to be growing at a highest CAGR in forecasted years.
Key Players in Global Active Protection System Market:
The major industries competing in the global market include Rafael Advanced Defense Systems (Israel), Israel Military Industries (Israel), Raytheon Company (U.S.), SAAB AB (Sweden), and Rheinmetall AG (Germany).
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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