What Has Been The Evolution of the Short Range Air Defense System Market in Recent Years?
The short range air defense system market has seen considerable growth due to a variety of factors.
• In the recent past, the market size of the short range air defense system has demonstrated notable expansion. The market size which stands at $14.75 billion in 2024 is predicted to increase to $15.72 billion in 2025, signaling a compound annual growth rate (CAGR) of 6.5%.
The surge in growth during the historic time frame is likely due to factors such as a heightened military threat landscape, geopolitical strife, threats posed by terrorism, modernization initiatives, and force protection requirements.
What Are the Future Growth Projections for the Short Range Air Defense System Market?
The short range air defense system market is expected to maintain its strong growth trajectory in upcoming years.
• There is anticipated to be a robust expansion in the market size for short range air defense systems over the coming years. It is projected to reach a worth of $19.29 billion by 2029, with a compound annual growth rate (CAGR) of 5.2%.
The expected growth in this period can be linked to factors such as asymmetrical warfare, emerging dangers, worldwide defense budgets, regional safety issues, and shared defense strategies. Potential trends predicted for this period encompass the incorporation of directed energy weaponry, improvements in radar and sensing technologies, the creation of mobile and handheld systems, increased interoperability and network integration, and the development of non-lethal interception technologies.
What Are The Core Factors Supporting Growth In The Short Range Air Defense System Market?
The surge in terrorism is projected to boost the expansion of the short range air defense system market. Terrorism, characterized by violence or intimidation aimed at sowing fear and confusion for political, ideological, religious, or social reasons, directly targets civilians to create widespread panic. Short range air defense systems play a crucial role in preventing terrorist activities by identifying, surveilling, and neutralizing aerial threats from terrorists targeting military bases, critical infrastructure, airports, or public gatherings. For instance, the Global Terrorism Index mentioned in a March 2023 report from the Institute for Economics and Peace, an Australian global think tank, that fatalities increased from an average of 1.3 per terrorist attack in 2021 to 1.7 per assault in 2022. Consequently, the ascended terrorism is fuelling the development of the short range air defense system market.
Short Range Air Defense System Market Driver: Escalating Defense Expenditures Stimulating Expansion In Short-Range Air Defense System Market
What Are The Major Segments Within The Global Short Range Air Defense System Market?
The short range air defense system market covered in this report is segmented –
1) By Component: Weapon System, Fire Control System, Command And Control System, Other Components
2) By Range: Short-Range (Up To 5 km), Very Short Range (Up To 2 km)
3) By Technology: Radar-Guided Systems, Electro-Optical Systems, Infrared (Eo/Ir) Systems, Jamming Technologies
Subsegments:
1) By Weapon System: Anti-Aircraft Guns, Surface-To-Air Missiles (Sams), Close-In Weapon Systems (CIWS)
2) By Fire Control System: Radar Systems, Tracking Systems, Fire Control Software
3) By Command And Control System: Communication Systems, Data Processing Systems, Command Consoles
4) By Other Components: Launch Platforms, Power Supply Systems, Sensors And Detectors
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What Trends Are Shaping The Short Range Air Defense System Market?
Leading enterprises in the SHORAD systems industry are concentrating on innovative technology like vertical launched short-range surface-to-air missile systems, aimed at offering dependable services to their clients. This next-gen surface-to-air missile is tailored for airborne targets within a span of 40 to 50 km and a height of approximately 15 km. For example, in February 2023, Bharat Dynamics Limited (BDL), a manufacturer specializing in ammunition and missile systems situated in India, along with the Defense Research and Development Organization (DRDO), a government body from India, introduced the vertical launched short-range surface-to-air missile systems (VL SR SAM). This system is for all-weather and ship-based air defense. The navy leverages it as a point defense for rapid reactions to fast sea-skimming threats.
Who Are the Key Players In The Short Range Air Defense System Market?
Major companies operating in the short range air defense system market report are:
• Israel Aerospace Industries
• Saab AB
• BAE Systems PLC
• Lockheed Martin Corporation
• Thales Group
• RTX Corporation
• Rheinmetall AG
• MBDA Inc.
• Leonardo S.p.A.
• Elbit Systems Ltd.
• Kongsberg Gruppen
• ASELSAN A.S.
• L3Harris Technologies Inc.
• Boeing Company
• General Dynamics Corporation
• Toshiba Infrastructure Systems & Solutions Corporation
• Nexter Systems
• Kongsberg Gruppen
• Diehl Defense GmbH & Co. KG
• Bharat Electronics Limited
• ASELSAN A.S.
• Norinco Group
• Hensoldt AG
• Denel Dynamics
• Rafael Advanced Defense Systems Ltd.
• Israel Aerospace Industries
• Avibras Indústria Aeroespacial S/A
• LIG Nex1 Co. Ltd.
• Thales Group
• Almaz Antey Corporation
What Is The Most Dominant Region In The Short Range Air Defense System Market?
North America was the largest region in the short range air defense system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the short range air defense system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
