According to the Graphical Research new growth forecast report titled “Europe Air Defense System Market Share By Component, System, Range, Application, Growth Potential, Competitive Market Share & Forecast, 2019 - 2026”, Estimated To Exceed USD 10 Billion By 2026. The Europe air defense system market will grow due to several factors including modernization of existing military infrastructure and the need for enhanced Situational Awareness (SA) to drive operations efficiently. The rise in government spending for strengthening the defense sector across the country is significantly supporting the industry size. European countries increased their defense budget allocation due to the increasing pressure from the current government in the U.S. for NATO members to achieve their defense expenditure target of 2% of GDP.
The land application segment is projected to account for the majority share of over 70% in the market by 2026. Land-based air defense systems are projected to have moderate growth due to their ability to provide real-time information in warfare. Land-based air defense systems are generally used in homeland security and military applications to provide real-time information during war. Countries in the region including Germany and Russia are aggressively investing in research & development activities for new defense technologies that will demonstrate capabilities to destroy or damage drones and other UAVs.
The air defense radar segment is projected to account for the majority share of over 80% in the Europe air defense system market by 2026. The rise of the segment is attributed to higher adoption in naval, land, and airborne applications. Rising territorial conflicts and geopolitical concerns among several countries are expected to have growth potential for the incorporation of advanced radar systems across the region. Technology upgrades of surveillance systems will also support the growth of the air defense market during the forecast timeframe. Countries are upgrading their radar systems with increasing technological capabilities. For instance, in October 2019, Kongsberg Defence & Aerospace signed a strategic contract worth USD 62.9 million with the Norwegian Defence Materiel Agency. The contract states to deliver a mobile ground-based air defense system to the Norwegian Army that will provide superior air defense capability through various operations.
Some of the key vendors in the market include Saab AB, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Leonardo S.P.A., BAE Systems, Rheinmetall AG, Thales Group, Kongsberg Gruppen, Raytheon Company, MBDA, Northrop Grumman Corporation, Boeing, Hanwha Corporation, General Dynamics, Rafael Advanced Defense Systems, L3Harris Technologies Inc., Almaz-Antey, and Diehl Defence.
The Europe air defense system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2019 to 2026 for the following segments:
Market Share, By Component
- Weapon System
- Turret System
- Missile Launching System
- Fire Control System
- Air Defense Radar
- Electro-Optic Sensor & Laser Range Finder
- Command & Control (C2) System
Market Size, By System
- Missile Defense System
- Anti-Aircraft System
- Counter Rocket, Artillery, and Mortar (C-RAM) System
Market Value, By Range
- Short Range Air Defense System
- Medium Range Air Defense System
- Long Range Air Defense System
Market Trends, By Range
The above information has been provided for the following regions and countries: