NEW YORK, April 12, 2017 /PRNewswire/ -- "Rising need for enhanced troop security and enhancing the performance of combat platforms are the major factors driving the active protection system market globally" 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. This market is driven by several factors, such as rising number of wars and cross-border disputes, the rise of asymmetric warfare, and increasing military use of offensive weapons for tactical operations. However, the declining defense budgets of developed countries may restrain the growth of the active protection system market in the U.S., the U.K., France, and Germany. "Hard kill system segment projected to grow at the highest CAGR during the forecast period" Based on kill system type, the active protection system market has been segmented into soft kill system, hard kill system, and reactive armor. The hard kill system segment is projected to grow at the highest CAGR during the forecast period. This segment's high growth can be attributed to the increasing demand for hard kill countermeasures. Hard kill system detects as well as neutralizes an incoming threat of various types, provides a 360-degree protection against modern missiles/projectiles, and is effective against shaped charge warheads. "Asia-Pacific market to grow at the highest CAGR during the forecast period" The Asia-Pacific active protection system market is projected to grow at the highest CAGR during the forecast period. In the Asia-Pacific region, the market in India is projected to grow at the highest CAGR during the forecast period, primarily owing to technological advancements, rising incidences of armed conflict, and war against terrorism. At present, the land combat systems of the Indian Army is very less equipped with active protection systems. However, the demand for these systems is expected to be very high in the coming years. As India is one of the major ams importers with a huge spending on its defense systems, the demand for active protection systems in India is also expected to be very high.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/active-protection-system-market-by-end-user-defense-homeland-security-platform-land-based-naval-airborne-kill-system-type-soft-kill-system-hard-kill-system-reactive-armor-and-region---global-forecast-to-2022-300439041.html
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