Active Protection System Market Demands, Overview, Key Drivers, Opportunities and Latest Trends Analysis
The research valuation of the Active Protection System Market is aimed to study innovative trend, growth dynamics, industry estimations, industry certified market facts to forecast in the duration of next five years. The market Study is segmented by key region that is accelerating the market. The study allows dealers to understand purchaser trends and segment study where they can handle prompt market share drop. The research report helps stakeholder or reader to figure out who really is the competition is in the marketplace, get to know market share survey, market opinion, market Share and segmented revenue. Global Active Protection System Market report study provides a detailed competitive analysis to know your current market situation. Not only new products but ongoing products are also important to examine because of ever-changing market dynamics. Additionally, Global Active Protection System Market data breakdown, market information to understand development activity and clear assessment, competitors SWOT analysis, product specifications and associate group analysis including financial metrics is covered in the research report.
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Competitive Landscape of the Market:
· Artis
· LLC
· Airbus Group
· ASELSAN A.S.
· IMI Systems
· Rheinmetal AG
· Rafael Advanced Defense Systems Ltd.
· The Raytheon Company
· Safran Electronics & Defense
· Saab AB.
Active Protection Systems are defined as next-generation systems which defend automatically in opposition to enemies for threatening them without loading the vehicle with heavy weapons. This protection system is used for detecting and neutralizing the threat projectiles before the target reaches them.
Growth in the Active Protection System Market can largely be attributed to factors such as Rise in the geopolitical instabilities. Furthermore, the factors which will help the market to escalate its growth are the Automation of defense systems, rising geopolitical instabilities, and increasing demand for the development of secured networks against cyber-attacks
On the other hand, a rise in cyber warfare affects the performance of technologically advanced defense platforms, and a rise in the development cost of radar systems may hamper the growth of the market. The global Active Protection System Market size is projected to reach a CAGR of 8.14% from 2023–2030.
Delvens Industry Expert’s Standpoint
To improve military capabilities and troops in several conflicts around the world, many nations have created autonomous weapon systems. Active protection systems ensure vehicle survival by lowering the penetration ability and reducing the fatal effect. The constant development of sensor technologies, weapon firing systems, and other auxiliary systems aims to enhance the efficiency and precision of the current Active Protection System generation (APS). The market is growing as a result of rising demand for cutting-edge combat systems, new-generation battle tanks, and an increase in government spending on the armed forces and defense.
Key Findings:
- The use of active protection systems in defense has increased considerably in the past few years, mainly driven by the rise in the number of warfare platforms being manufactured worldwide. These warfare platforms require systems that can help detect, track, and defend against incoming threats.
- The market under the platform segment is segmented into land, naval and airborne. Amongst which land segment is projected to grow at the highest CAGR during the forecast period. The rising demand for active protection systems can be attributed to several factors, including increasing focus on close combat systems, upgradation of existing armoured platforms, the need for connected warfare systems, and the safety of soldiers in a war-like situation, among others.
- The market under kill system type is segmented into soft kill system, hard kill system, and reactive armor. The market is dominated by the soft kill system segment. However, the hard kill system segment is projected to grow at the highest CAGR during the forecast period. This anticipated high growth can be attributed to the growing demand for advanced systems equipped with enhanced capability to engage and hit incoming threats.
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Regional Analysis
North America to Dominate the Market
- On the other hand, Europe dominates the active protection system market due to an increase in the spending on advanced airborne targeting systems by countries, such as the UK, France, and Russia, and the upgrades and procurement of targeting pod-based aircraft in this region. Asia-Pacific is the expected region in terms of growth in the active protection system market due to the rise in the price of radar systems in this region.
- Asia Pacific market is projected to increase at a significantly high pace over the forecast period, due to factors such as geopolitical instability in countries of the region, rapid automation of defense systems, and continuous improvement in warfare platforms with the introduction of new and advanced technologies. However, rising prices of radar systems are a major factor expected to hinder the market in the region in the near future.
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Recent Developments
- February 2021-Lockheed Martin Corporation and the US Army have signed a contract with a valuation of USD 30 million to provide a combat vehicle protection system for the US army. According to this contract, Lockheed Martin Corporation provides the modular APS to the US army. This modular system provides vehicle sensors to detect, protect, track and destroy rocket-propelled grenades aimed at combat vehicles.
- February 2021-BAE Systems Hagglunds and Israeli form Elbit systems had signed a contract with a valuation of USD 82 million to provide an active protection system for the Royal Netherlands Army.
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- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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