NEW YORK, April 12, 2017 /PRNewswire/ -- "Rising need for enhanced troop security and enhancing the performance of combat platforms are the major factors driving the active protection system market globally"
The active protection system market is projected to grow from USD 2.84 billion in 2016 to USD 4.15 billion by 2022, at a CAGR of 6.50% from 2016 to 2022. This market is driven by several factors, such as rising number of wars and cross-border disputes, the rise of asymmetric warfare, and increasing military use of offensive weapons for tactical operations. However, the declining defense budgets of developed countries may restrain the growth of the active protection system market in the U.S., the U.K., France, and Germany.
"Hard kill system segment projected to grow at the highest CAGR during the forecast period"
Based on kill system type, the active protection system market has been segmented into soft kill system, hard kill system, and reactive armor. The hard kill system segment is projected to grow at the highest CAGR during the forecast period. This segment's high growth can be attributed to the increasing demand for hard kill countermeasures. Hard kill system detects as well as neutralizes an incoming threat of various types, provides a 360-degree protection against modern missiles/projectiles, and is effective against shaped charge warheads.
"Asia-Pacific market to grow at the highest CAGR during the forecast period"
The Asia-Pacific active protection system market is projected to grow at the highest CAGR during the forecast period. In the Asia-Pacific region, the market in India is projected to grow at the highest CAGR during the forecast period, primarily owing to technological advancements, rising incidences of armed conflict, and war against terrorism. At present, the land combat systems of the Indian Army is very less equipped with active protection systems. However, the demand for these systems is expected to be very high in the coming years. As India is one of the major arms importers with a huge spending on its defense systems, the demand for active protection systems in India is also expected to be very high.
Break-up of profile of primary participants of the active protection system market:
• By Company Type - Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%
• By Designation – C level – 75%, Manager level – 25%
• By Region – North America - 10%, Europe – 20%, APAC – 40%, RoW – 30%
Major companies profiled in the report are Rheinmetall AG (Germany), Saab AB (Sweden), Raytheon Company (U.S.), Israel Military Industries (Israel), Rafael Advanced Defense Systems Ltd. (Israel), Artis, LLC (U.S.), Airbus Group (Netherlands), KBM (Russia), Aselsan A.S. (Turkey), and Safran Electronics & Defense (France), among others.
This report presents a complete analysis of the active protection system market during the forecast period. The active protection system market has been broadly classified on the basis of end user (defense, homeland security), platform (land, airborne, naval), kill system type (soft kill system, hard kill system, reactive armor), and region.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis —industry analysis (industry trends and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high-growth segments of the active protection system market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
• Market Penetration: Comprehensive information on active protection systems offered by the top 10 players in the active protection system market
Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the active protection system market
• Market Development: Comprehensive information about lucrative markets - the report analyzes markets for active protection systems across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the active protection system market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the active protection system market
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