LONDON--(BUSINESS WIRE)--The global short-range air-defense missile system market is expected to register a CAGR of over 4% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the increasing focus on short-range air-defense (SHORAD) capabilities. In countries such as the US, the army has neglected the short-range threats and instead focused on missiles for more than two decades. However, currently, the army is emphasizing on increasing SHORAD capabilities in brigade combat teams. The emergence of unmanned aerial systems, cruise missiles, and long-range rockets pose threats to countries and must be addressed with capable systems. The US army has prioritized on SHORAD and has started re-activating units back to this core competency.
This market research report on the global short-range air-defense missile system market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of high-tech radar technology as one of the key emerging trends in the global short-range air-defense missile system market:
Global short-range air-defense missile system market: Emergence of high-tech radar technology
Detection of the missile is the first step towards defending a ballistic missile. Radars play a crucial role in the ballistic missile defense system by rigorously searching, detecting, and tracking any object within its range. The radar systems use complex computer algorithms for discriminating between the threats such as warheads, and non-threats such as commercial aircraft. If the incoming object is found to be hostile, the missile defense system attacks and destroys it.
“New and upgraded radars can be deployed in two different modes based on the user’s needs. For example, in a forward-based mode, the radar is located near the hostile territory and as soon as the missile is launched, its position is acquired in the ascent phase of its flight. The radar then tracks and categorizes the threat, and this information is then conveyed to the decision makers that are present in the command and control battle-management network,” says a senior analyst at Technavio for research on defense.
Global short-range air-defense missile system market: Segmentation analysis
This market research report segments the global short-range air-defense missile system market into the following products (man-portable air-defense system and stationary/platform-mounted air-defense system) and key regions (the Americas, APAC, and EMEA).
The man-portable air-defense system segment held the largest market share in 2017, accounting for nearly 74% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas held the highest share of the global short-range air-defense missile system market in 2017, accounting for a market share of approximately 40%. The market share occupied by this region is anticipated to decrease by nearly 3% during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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