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Active protection system market worth 4.15 billion USD by 2022 according to new research report

Active protection system market worth 4.15 billion USD by 2022 according to new research report

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.

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Increase in asymmetric warfare and replacement of legacy systems with advanced combat systems are the key factors driving the active protection system market

The report provides an analysis of the active protection system marketover the next six years. It discusses industry and technology trends that are prevailing in the market, and analyses the factors that are driving and restraining the growth of this market as well as the challenges faced by it.

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% from 2016 to 2022. The growing demand for safety from highly maneuverable weapon systems is expected to be the key driver for the growth of the active protection system market during the forecast period.

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Based on platform, the land segment dominated the active protection system market in 2016. Active protection systems mounted on a land-based platform are equipped with both, hard kill as well soft kill capabilities.

These systems are tough and rugged, and provide high detection probability for small and large targets in all weather conditions.

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Based on kill system type, the hard kill system segment is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the increased demand for hard kill systems that can detect as well as neutralize various types of incoming threat.

These systems provide a 360-degree protection against modern missiles/projectiles. For instance, in 2016, the U.K.‘s Defence Science and Technology Laboratory (Dstl) awarded a contract worth USD 8.07 million to QinetiQ (U.K.) for the assessment of active protection systems (APS) for armored vehicles.

Europe is expected to be one of the largest markets for active protection system in the future. Active protection systems are expected to drive military operations, as they protect personnel from direct fire, thus leading to a decline in casualties.

The importance of troop safety and enhancing the kill power of a warfare platform have driven major manufacturers and service providers in the region to develop techno-efficient combat systems and unmanned systems with active protection system.

The active protection system market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period, followed by North America and the Middle East. There is an increase in demand for active protection systems by militaries in the Asia-Pacific region, due to equipment upgradation and continuous technology advancement programs.

 

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