According to the research literature titled ‘Air Defense System Market Size By Component (Weapon System, Fire Control System, Command & Control (C2) System), By System (Missile Defense System, Anti-Aircraft System, Counter Rocket, Artillery, and Mortar (C-RAM) System), By Range (Short Range Air Defense (SRAD)System, Medium Range Air Defense (MRAD) System, Long Range Air Defense (LRAD) System), By Application (Land, Naval, Airborne), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report, global air defense system market is projected to cross a valuation of USD 35 billion by the end of the forecast period 2019-2026.
 

As per the report findings, global air defense system market is largely driven by increasing political insurgencies and cross-border conflicts, rising defense budget, and upgradation of ageing systems. Further, technological advancements such as counter UAVs, hyper sonic missiles and automatic fire control systems are propelling the industry growth. For example, Russia, in 2018, introduced a concept of developing nuclear-powered cruise missile with an infinite target range.
 

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Despite the positive industry outlook, various treaties are proving as challenges for businesses in this domain. To elaborate, various governing bodies such as the NATO, UN, EU, and UNESCO formulate regulations to limit acquisition of weapons and defense systems for various regions. For instance, the Key Arms Control Treaty between major North American and European countries limits development of various missile systems including nuclear weapons. However, withdrawal of U.S. in 2019 from the treaty pushed other nations to enhance their air defense systems.
 

From a geographical perspective, Asia Pacific air defense system industry will witness a surge in remuneration over the forecast duration, mainly due to intensifying cross-border tension between India, Pakistan, and China. Meanwhile, heightened investments in R&D activities by major players will support the industry expansion in North America and Europe.
 

Speaking of the competitive landscape, experts speculate that a finite clientele with limited contract opportunities will make the market more competitive. Moreover, companies are emphasizing on providing more advanced and customized solutions & systems to governments worldwide to improve their position. They are doing so by expanding their investments in R&D activities. Citing an instance, BAE Systems increased its R&D expenditure from USD 2.02 billion in 2016 to USD 2.18 billion in 2017 and USD 2.26 billion in 2018.
 

Key players influencing worldwide air defense system market dynamics are Rafael Advanced Defense Systems Ltd., Northrop Grumman Corp., MBDA, Lockheed Martin Corp., Leonardo S.p.A., L3Harris Technologies Inc., Kongsberg Gruppen ASA, JSC Concern VKO, Israel Aerospace Industries, Hanwha Group, General Dynamics Corp., Elbit Systems Ltd., Aselsan A.?., and Airbus Defence and Space among others.