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North America Air Defense System Market to Collect Over $5bn by 2026
Published Date: 2020-02-24
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According to the Graphical Research new growth forecast report titled “North America Air Defense System Market Size By Component, System, Range, Airborne, Industry Analysis Report, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2026 Estimated To Exceed USD 5 Billion By 2026. North America air defense system market growth can be attributed to rise in insurgencies among various countries and their race to establish global dominance. Technological advancement to elevate defense capabilities and mitigate incoming threats is also one of the major market accelerators. For instance, in October 2019, the U.S. demonstrated a highly advanced Integrated Air Defense System (IADS). The system is a combination of elements including personals, equipment, structure, weapon system, and procedures. This allows IADS to provide more effective aerial protection.
The proliferated political network of U.S. across the globe and significant technological advancement are propelling the North America Defense System Market. Various countries including Germany and Kuwait are in the process of acquisition of the air defense system made in the U.S., positively impacting market growth. For instance, in December 2018, Lockheed Martin received a contract worth USD 3.3 billion for acquisition of PAC-3 missile defense system. In July 2019, the U.S. approved a sale of USD 401 million to transfer 50 PAC-3s to Germany.
The anti-aircraft system in the North America air defense system market captured a maximum market share of over 86% in 2026. The market dominance of aircraft systems can be attributed to the requirement of enhanced anti-aircraft systems as they serve as primary line of defense against aerial attacks done by aircraft. The country along with ramping up in-house manufacturing capabilities is also importing air defense systems from other nations, improving market share. For instance, in August 2019, the U.S. confirmed the order for acquisition of two iron dome air defense systems, which were manufactured in collaboration with Raytheon (U.S.) and Rafael System (Israel).
Major industry participants in the North America air defense system market include Lockheed Martin, L3Harris, Boeing, Northrop Grumman, Raytheon, General Dynamics, and United Technologies. Industry players are undergoing long-term contracts with various government bodies such as Department of Defense (DoD) and U.S. Air Force (USAF) to improve their existing market share.
The North America 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:
North America Air Defense System 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
North America Air Defense System Market Size, By System
- Missile Defense System
- Anti-Aircraft System
- Counter Rocket, Artillery, and Mortar (C-RAM) System
North America Air Defense System Market Value, By Range
- Short Range Air Defense (SRAD)System
- Medium Range Air Defense (MRAD) System
- Long Range Air Defense (LRAD) System
North America Air Defense System Market Trends, By Application
The above information has been provided for the following regions and countries:
- North America