Global Air Defense Market: An Overview
The global air defense market report is an in-depth study of the trends, drivers, and growth forecast during 2018-2026. The market is expected to witness robust growth as rising disposable income, and increasing need for security drives defense sector around the world. Moreover, recent conflicts like the one in South China Sea are also expected to drive growth of the global air defence market in the near future. The market houses several systems including anti-aircraft systems, missile defence system, counter-RAM, and counter unmanned aerial systems. Moreover, these are also based on various platforms like sea-based, air-based, and land-based. Furthermore, short-range defence system, medium-range air defence system, and long-range defence system. The rising investment in innovation by key countries like the United States, China, Russia, France among others are expected to drive major growth for the air defence market in the near future.
Global Air Defense Market: Notable Developments
Turkey has announced that its low-altitude anti-missile air system is ready for production. The system has successfully passed field tests and the government will place order for these. The new system named Hisar-A is automated and provides a key defence capability. The missile is ready with radar, command-control, fire-control, and communication system. It is expected to provide protection against all airborne targets in the near future, thanks to its vertical launch capability. The system is capable of being mounted on a self-propelled armoured vehicle. The system also embeds 3D radar, and an electro-optic sensor suite.
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The US has announced that it will send more troops and military equipment to Saudi Arabia after the recent drone attack on the country. Saudi Arabia’s largest oil facility was attacked recently and it has led to an exacerbation of conflict between the nation and Iran. The US will be sending fighter jets as well as defense missile system to the country. The recent use of drones in the region by fringe elements also show the need for advanced defence systems to counter threats ahead of time. The growing tension in the region, and the widespread availability of drones are expected to be major concerns which will drive growth of the air defence market.
Global Air Defense Market: Drivers and Restraints
The global air defence market is expected to witness robust growth in the near future, thanks to increasing decentralization of defence in many parts of the world. Additionally, the increased investment in innovation, increasing collaborations, and rising demand for advanced technologies are expected to emerge as key trends. The growth of various futuristic possibilities like AI, 3D printing, and drones are also expected to drive more innovation and growth in the market. Technologies like 3D printing are also expected to lower costs of the weapons on one hand to increase quality. Material advancements like lightweight fibres are also expected to drive growth for the air defense market in the near future.
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Global Air Defense Market: Geographical Analysis
The global air defense market report will embed detailed study on key regions of the globe including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Among these, North America is expected to retain its leading position in terms of total revnues during the forecast period. The rising defence expenditure, growing instability in some regions, and increased decentralization of powers are expected to drive growth for the market. Moreover, the market is also expected to register lucrative growth in Asia Pacific. Countries like China are also displaying innovative capabilities in weapons systems in the air defence market. The cost-effective weapon systems, growing investment in innovation, and regional instability are expected to drive growth.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.