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The active protection system market is projected to grow from USD 3.9 billion in 2022 to USD 5.2 billion by 2027, at a CAGR of 5.5% from 2022 to 2027
The market is driven by rising need for automation across military platforms, including ground vehicles and UAVs. However, the market’s growth is limited by the prevalence of cyber-warfare to foresee the market growth.
New York, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Active Protection System Market by End User, Platform, Kill System Type and Region - Global Forecast to 2027" - https://www.reportlinker.com/p04823020/?utm_source=GNW
The COVID-19 outbreak has had an impact on the active protection system supply chain. The spread of COVID-19 in the United States and Europe is expected to be slowed by lockdowns at active protection system vehicle research and development centres.As a result of the Asia Pacific lockdown, many businesses in the active protection system industry have lost revenue. Many startups have failed to continue operating in the area due to delays in development and a lack of funds. The commercialization of active protection system appears to have been delayed by a year when compared with pre conditions.
The ground segment is expected to hold major share of the market during the forecast periodon the basis ofplatform
Active protection systems are designed to be compatible with any existing combat management system, which increases their feasibility and commonality. They enable defense from short-range maneuverable projectiles, sea-skimming weapons, and anti-tank guided missiles, among others.The technology uses sensors and radar, computer processing, fire control technology, and interceptors to find, target, and knock down or intercept incoming enemy fire. The scalability of these systems enables them to be deployed on a number of platforms. They offer advantages such as safety and counter-firepower and perform all functions, from surveillance and detection to destruction, including the selection of the next priority threat.
The soft kill systemsegment is anticipated to lead the active protection system market in near future
Soft kill system, such as, radar decoys are mounted on a warfare platform as a countermeasure system to deceive a radar operator into believing that they are actually the combat platform. They can be complemented with other systems such as radar warning receivers, missile warning systems, techniques generators, and chaff & flare dispensers to enhance the protection on a combat platform.
Defense segment led the active protection system market
Based on end user, the defense segment dominates the active protection system market in 2022, driven by the increasing military expenditure of major economies of the Asia Pacific region, along with the rising number of conflicts, wars, and cross-border disputes in the region.
Europe held largest market share in terms of value
Europe is estimated to account for 30% of the active protection system market in 2022. The market in Europe is projected to grow from USD 1,199 million in 2022 to USD 1,600 million by 2027, at a CAGR of 5.9% from 2022 to 2027.
Break-up of profiles of primary participants in this report:
• By Company Type: Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
• By Designation: C level – 35%, Director level – 25%, Others – 40%
• By Region: North America - 45%, Europe – 25%, AsiaPacific – 15%, Middle East– 10%,Rest of the World – 5%
Research Coverage
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ground support equipment market.A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches associated with the ground support equipment market.
Competitive analysis of upcoming startups in the ground support equipment market ecosystem is covered in this report.
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market ranking analysis of top players, value chain analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the active protection system market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on active protection systemsoffered by top market players
• Market Sizing: The estimated size of the market in 2022 and its projection to 2027
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the active protection system market
• Market Overview: Market dynamics and subsequent analysis of associated trends as well as drivers, opportunities, and challenges prevailing in the active protection system market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for active protection systemacross regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the active protection system market
• Regional Analysis: Factors influencing the growth of the active protection system marketin North America, Europe, Asia Pacific,Middle East and Rest of the World.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the active protection system market.
Read the full report: https://www.reportlinker.com/p04823020/?utm_source=GNW
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