The global active protection system market size is expected to reach USD 4.61 billion in 2028, exhibiting a CAGR of 8.14% during the forecast period. The increasing need for APS systems for protection against anti-tank threats will favor healthy growth of the active protection system market during the forecast period, states Fortune Business Insights, in a report titled “Active Protection System Market, 2021-2028.” The market size stood at USD 2.81 billion in 2020.
A List of Renowned Active Protection System Manufacturers Operating in the Global Market:
- Airbus S.A.S. (Netherlands)
- Artis, LLC (The U.S.)
- Aselsan A.S. (Turkey)
- Israel Military Industries (Israel)
- KBM (Russia)
- Rafael Advanced Defense Systems Ltd. (Israel)
- Raytheon Technologies Corporation (The U.S.)
- Rheinmetall AG (Germany)
- Saab AB (Sweden)
- Safran (France)
 |
| Get Sample PDF Brochure |
What Does This Report Contain?
The report
provides intelligent insights on new product developments, R&D activities,
and future technologies. At the same time, it delivers elaborate information
about recent investments, developments, and untapped geographies. Besides, our
analysts have conducted an assessment of manufacturing capabilities,
strategies, and shares of prominent companies.
DRIVING
FACTORS:
Procurement of Cutting-edge Main Battle Tank
(MBT) to Aid Business Development
The
expansion of armed forces due to geopolitical conflicts and illegal
cross-border activities will spur opportunities for the active protection system industry in the forthcoming years. For instance,
China and India enlarged their armed forces due to cross-border
conflicts. The increasing defense expenditure and procurement of new generation
main battle tanks will boost the active
protection system market in the forthcoming years. For instance, in
February 2021, the defense ministry of India and the Ordnance Factory Board
(OFB) signed a contract to provide 118 Arjun Mk-1A tanks for the Indian Army.
These tanks are equipped with active protection systems and countermeasure
systems.
Similarly,
In November 2019, the Indian Ministry of Defense (MoD) and Ordnance Factory
Board (OFB) signed a contract with a valuation of USD 2800 million to offer 464
additional T-90S main battle tanks (MBTs) for the Indian Army. The T-90S main
battle tanks are also equipped with APS. Also, the increasing procurement of
MBT across South Asian Countries can have an outstanding effect on the active protection system market growth.
Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/active-protection-system-market-104049
COVID-19
IMPACT:
Delayed Deliveries of APS to Inhibit Market
During Coronavirus
The COVID-19 pandemic had a dramatic impact on the defense industry. The
lockdown implemented in European and South Asian Countries massively disrupted
the supply chain of the aerospace & defense industry. The reduced demand
and delayed APS deliveries have led to an enormous loss for the active
protection system market. For instance, the Republic of Korea Armed Forces
planned to reduce the USD 240 million defense budgets during 2019-2020.
Moreover, the demand for defense equipment and active protection system-related
services was massively affected because of the low defense budget of the
European Union. Also, the decreased defense spending and slow APS production
have thwarted the growth of the market.
REGIONAL
INSIGHTS:
Existing
Players to Boost Business in North America
The market
size in North America stood at USD 0.95
billion in 2020. The growth is due to the presence of several key players
and major APS manufacturers in the region. Companies such as Artis, LLC and Raytheon Technologies Corporation are
boosting the growth of the market.
The market
in Europe is expected to rise exponentially during the forecast period due to
the increasing demand for APS from the European Union's armed forces. For
instance, In October 2019, BAE Systems launched the RAVEN Countermeasure system
for combat vehicles. The RAVEN Countermeasure system is a protective shield of
its integrated vehicle protection system suite of APS product.
Asia Pacific
is expected to hold a significant
active protection system market share during the forecast period due to
the increasing procurement of China's APS system. Moreover, the heavy demand
for the main battle tank, armored personnel carrier, infantry fighting
vehicles, and amphibious armored vehicles from the emerging economy such as
China and India will aid development in the region.
A NOTABLE INDUSTRY DEVELOPMENT-
January 2020: Elbit Systems and the Israeli Ministry of
Defence (IMOD) signed a contract with a valuation of USD 31 million for Iron
Fist Active Protection Systems (APS). The APS system consists of optical
sensors, launchers, countermeasure munitions, and tracking radar. The APS
system is majorly used for the Eitan Armored Fighting Vehicles of the Israeli
Defense Forces.
