According to the recent research report titled ‘Asia Pacific Air Defense System Market Size By System, Component, Range, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report, Asia Pacific air defense system market is projected surpass the valuation of USD 13 billion by 2026.
 

Increasing territorial disputes and geo-political tensions among neighboring economies are primarily driving the growth of Asia Pacific air defense system market. In addition, high investments in military aviation industry by developing economies including China and India are contributing towards the expansion of the market over the forecast period.
 

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Various economies are focusing on expanding their fleet of military aircraft in order to strengthen their defence sector due to increasing cases of terrorism, which in turn is favoring the Asia-Pacific air defense system industry share. In fact, India ordered around 114 multirole fighter jets worth USD 15 million in July 2019.
 

As per system type, Asia-Pacific air defense industry from weapon system segment is projected to record 3% CAGR during 2019-2026, owing to surging demand of automated weapon systems such as drones and missiles, which are integrated with advanced features like accurate target location and real-time data. Moreover, increasing participation of industry partakers towards development of automated weapons is fueling the segmental growth.
 

Alternatively, Turret system segment is predicted to witness decent growth in the forthcoming years, on account of rising cases of asymmetric warfare between nations.
 

The report states that missile defense system segment is expected to expand with a 4% CAGR through 2026. Improvements in missile defense system has encouraged defense sectors in several economies to empower and protect their borders. In addition, involvement of industry partakers in developing enhanced and new products along with focus towards modernizing existing products is likely to influence the segmental growth over the analysis period. These factors are projected to fuel the air defense system industry in Asia Pacific.
 

Major players in Asia Pacific air defense system market are Thales Group, Rheinmetall AG, BAE Systems plc, Lockheed Martin Corp., Diehl Defence GmbH & Co. KG, L3Harris Technologies Inc., Israel Aerospace Industries, Leonardo S.p.A., The Raytheon Company, Boeing Group, Rafael Advanced Defense Systems Ltd., MBDA, Northrop Grumman Corporation, General Dynamics Corp., Hanwha Corp., Kongsberg Gruppen, JSC Concern VKO "Almaz-Antey", and Saab AB among others.