Europe air defense system market share is expected to grow at an appreciable rate as innovative air defense systems are being developed to gain a military advantage over their rivals. There is a wide range of defense products that can integrate with other communication systems.
Europe has a notable presence of various defense bodies, such as the European Defense Agency, the European Union, and the Federation of European Defense Technology Associations. They are closely working with domestic organizations to develop high-end defense equipment. These aspects will have a positive impact on the prospects of air defense system market in Europe.
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Reputed organizations that are involved in the production of air defense systems across Europe include Israel Aerospace Industries Ltd., Saab AB, Lockheed Martin Corporation, Raytheon Company, Leonardo S.P.A., Kongsberg Gruppen, and many others.
They are creating missile defense, anti-aircraft, artillery, and counter rocket, and mortar(C-RAM) systems for applications, including land, airborne, and naval. High-quality components and air defense systems with different ranges are a part of the extensive product portfolio of these companies.
Countries in the EU have access to the latest technologies and weapon-making machinery that have been created by any member nation. There are free trade policies in place and favorable government rules will support the large-scale adoption of technological innovations made in the regional air defense system market.
Europe air defense system industry value is set to cross $10 billion by 2026. Naval sector applications are predicted to hold more than 20% share of the regional air defense system market by 2026. The demand to increase security measures and keep the coastlines of the oceanic European region safe from threats has multiplied in recent years.
To achieve the goal, several collaborations are taking place between domestic and international companies to create advanced naval defense systems. For example, Germany’s Diehl Defence and U.S.-based Raytheon collaborated to develop the RIM-116 Rolling Airframe Missile (RAM). The RIM-116 is a supersonic, lightweight, and quick-reaction air-to-surface missile that is specially made for naval operations.
Land applications are set to capture over 70% share of Europe air defense system market by 2026. Land-based air defense systems have the superior ability to offer real-time information from war zones. Germany and Russia are conducting extensive research and development activities to produce robust defense technologies that are capable of neutralizing any invasive drones and UAVs.
Air defense radar components are likely to capture over 80% share of Europe market by 2026. These components are finding high application across land, naval, and airborne sectors as there are rising border tensions among countries in the region. These issues will prompt the manufacturers to develop cutting-edge radar systems that use surveillance equipment to better navigate their path.
Business partnerships are helping organizations take the advantage of innovative technologies to build better and more efficient radar systems and other military machines. For instance, in October 2019, Kongsberg Defence & Aerospace and the Norwegian Defence Material Agency signed a contract worth $62.9 million to offer mobile land-based air defense systems to the armed forces of Norway. These systems will help the army in a variety of intense missions due to their supreme features and capabilities.
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UK held more than 7% share of Europe air defense system market. The country’s ministry of defense is making significant efforts to upgrade its naval air defense system. They are likely to develop advanced anti-air missiles that will enhance their naval defense competencies.
Europe air defense system market size will grow at a notable pace due to rising security concerns. Companies in the region are partnering with defense organizations to create advanced weapons and other technologies to combat rival forces and upgrade their defense mechanism. With rising political insurgencies in the region, air defense systems are expected to witness advancements in their making and functioning.
Table of Contents (ToC) of the report:
Chapter 1. Methodology & Scope
- Market scope & definitions
- Research methodology
Chapter 2. Executive Summary
Chapter 3. Industry Insights
- Industry segmentation
- Industry ecosystem analysis
- Industry impact forces
- Growth drivers
- Growth restraints
- Regulatory overview
- ’s analysis
- PESTEL analysis
- Competitive landscape, 2019
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