Active Protection System Market – Drivers, Revenue, Application Industry Demand Analysis 2023
The Active Protection System market is estimated to witness a CAGR of more than 7% during the forecast period 2018 to 2023.
Active protection systems are capable of shooting down threats such as anti-tank missiles and rocket-propelled grenades. Moreover, they do it with a high degree of accuracy which reduces collateral damage. The fast-paced development of anti-tank missiles will be one of the key factors that will have a positive impact on the market’s growth.
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The rising improvements and the deployment of new-generation anti-tank missiles have induced the need for more improved APS for ground vehicles. Moreover, manufacturers of combat vehicles are developing and installing new APS to guard the crew and their armored vehicles against damages. For instance, in September 2017, The U.S. Army had a contract with the company, named General Dynamics. This contract was related to the installation of the Trophy system on new and existing combat vehicles of the U.S. Army. Such developments will drive the demand for APS.
Depending upon the types of systems, the global active protection systems market can be divided into the soft kill, hard kill system, and reactive armor system. The soft kill system can be further bifurcated as an infrared decoy, radar decoy, electro-optics jammers, and others. Of them, the radar decoy segment leads the market and is trailed by infrared decoy segment. The hard kill segment, consisting of rocket/missile-based APS, light weapon defense APS, directed energy APS, and others are also estimated to witness a growth in the forecast period.
The rise in demand for the expansion of secured network against cyber-attacks will create new opportunities in the market of APS in the forecast period. The APS market consists of a limited number of multinational and regional suppliers. The market is in the expansion stage, and the vendors compete on innovative technologies and are upgrading their existing systems with automated systems, focusing on quality of the system, and reliability of the system. To withstand the competition, the major vendors in the APS market have the need to recognize and respond to the rising trends of geopolitical situations.
The key players in Active Protection System market are Artis, LLC (U.S.), Aselsan A.S. (Turkey), Airbus S.A.S (Netherlands), IMI Systems Ltd. (Israel), KBM (Russia), Rheinmetall AG (Germany), Rafael Advanced Defense Systems Ltd. (Israel), Raytheon Company (U.S.), Safran (France), and Saab AB (Sweden).
Scope of the Report:
This study provides an overview of the global Active Protection System market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC), Middle East and Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Active Protection System market by its Platform, Type, End User, and Region.
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