Market Size of Asia-Pacific Air Defense Systems Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.42 Billion |
| Market Size (2029) | USD 6.09 Billion |
| CAGR (2024 - 2029) | 6.59 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asia-Pacific Air Defense Systems Market Analysis
The Asia-Pacific Air Defense Systems Market size is estimated at USD 4.42 billion in 2024, and is expected to reach USD 6.09 billion by 2029, growing at a CAGR of 6.59% during the forecast period (2024-2029).
The nature of air-based warfare has changed in recent years with the advent of more lethal, agile, and untraceable threats having autonomous capabilities. As threats increase, various countries across the globe are compelled to safeguard their territories from potential adversaries at any cost, due to which the emphasis on enhancing air defense capabilities has increased. The increasing geopolitical conflicts and border tensions between the neighboring countries in the region are forcing them to increase their military expenditure. This increase in military expenditure is propelling investments into air defense systems, which is generating demand for the air defense systems market in the Asia-Pacific region.
With advancements in technology, such as the development of advanced threats like hypersonic missiles, there is a growing need for better air defense systems. Due to this growing requirement, companies are developing advanced threat detection systems and countermeasures systems to counter UAVs, aircraft, missiles and rockets, artillery, and mortar threats. However, the inherently high R&D costs and the longer development cycle restrain the growth of the market studied as they expose the market players to global macro-economic uncertainties.
