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(Transportation-News.com, March 17, 2018 ) 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% during the forecast period. Factors such as modernization of armed forces, rise in asymmetric warfare, and rising need for security from different types of weapon systems are expected to drive the market during the forecast period.
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.
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On the basis of platform, the active protection system market has been segmented into land, naval, and airborne. The 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 armored platforms, need for connected warfare systems, and safety of soldiers in a war-like situation, among others.
Based on kill system type, the active protection system 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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Europe is estimated to account for the largest market share during the forecast period. One of the key factors driving the Europe active protection system market is the continuous upgrade of warfare platforms with newer technologies. Russia and the U.K. are the two major countries increasingly investing in active protection systems and related technologies.
The growth of the active protection system market could, however, be affected by certain major factors in the coming years. These restraining factors include declining defense budgets of developed economies, such as the U.S., Canada, the U.K., and Germany, and the stringent technology sharing rules.
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Key players operating in the global active protection system market 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. Contract is the key growth strategy adopted by the top players to strengthen their position in the market.
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