The global active protection system market size is expected to reach USD 6.02 billion by 2030, according to a new study by Polaris Market Research. The report “Active Protection System Market Share, Size, Trends, Industry Analysis Report, By Platform (Ground, Airborne, Marine); By Kill System; By End-Use (Defense, Homeland Security); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The demand for the active protection system in the military and premilitary sector is rising owing to their scalability to mount on any platform to protect from enemy fire. Furthermore, increasing terrorist attacks due to geopolitical tension and penetration of asymmetric warfare are significant factors driving demand.
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The rising application of the method is majorly used in the aerospace and defense sector due to its viability and feasibility to be compatible with any combat management system is an essential factor in driving market growth. In addition, the modernization of armed forces and rapid advancement in the defense sector has resulted in the development of new generation anti-tank missiles which, when deployed with active protection, identify and neutralizes threats from the attacks, is expected to boost the market.
The COVID-19 pandemic had a negative impact on the demand for protection systems, as there was a significant decline in the manufacturing of defense equipment owing to the global lockdown. In addition, the government investment shifted more toward the healthcare sector, creating a reduction in the defense budget due to the increasing SARS-CoV-2 virus, which hampered the market during that period.
Active Protection System Market Report Highlights
Polaris Market Research has segmented the active protection system market report based on platform, kill system, end-use, and region:
Active Protection System, Platform Outlook (Revenue - USD Billion, 2018 - 2030)
Active Protection System, Kill System Outlook (Revenue - USD Billion, 2018 - 2030)
Active Protection System, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Active Protection System, Regional Outlook (Revenue - USD Billion, 2018 - 2030)