Active Protection System Market: Future Forecast Assessed on the Basis of How the Key Players Decided to InvestPosted by Amrut Mahajani on February 22nd, 2023  Active Protection Systems: The Future of Military Technology The military industry is continuously evolving, and new technologies are being developed to ensure that military personnel are safe while carrying out their duties. One such technology is the active protection system (APS), which is being integrated into military vehicles, naval ships, and aircraft to detect, track, and respond to threats. The system is designed to defend against various threats, including rocket-propelled grenade (RPG) and anti-tank guided missile (ATGM) attacks, using both hard and soft kill capabilities. The active protection system market is estimated to be worth USD 3.9 billion in 2022 and is projected to reach USD 5.2 billion by 2027, growing at a CAGR of 5.5% from 2022 to 2027. The demand for APS has been increasing rapidly over the past decade, with increasing digitalization and military spending globally. Additionally, the COVID-19 pandemic did not significantly affect the APS market as there was no decrease in the defense budgets of major countries. For example, Turkey increased its defense spending in 2022 to USD 9.69 billion, which is approximately 20% more than that in 2021. Get More Information Request Sample Copy (Get Higher Priority for Corporate email ID): https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=5804076 Several countries, defense, and homeland security agencies across the globe employ active protection systems for combat, security, and patrolling operations. Key players in the market include Rheinmetall AG (Germany), Saab AB (Sweden), Raytheon Company (US), Airbus (Netherlands), and ASELSAN AS (Turkey). These companies are focusing on securing government contracts to grow organically, and their core competencies include high investments in research and development activities. Rheinmetall AG is a public limited company listed on the Frankfurt Stock Exchange under the ticker symbol RHM. With 25,000 employees in 2021 at 133 locations and production sites worldwide, Rheinmetall specializes in security and mobility solutions. It is a market leader in the sectors of environmentally friendly mobility and threat-appropriate security technology. Rheinmetall's products set the global standard for excellence in a wide array of disciplines, including vehicles, force protection, weapon systems, infantry equipment, air defense, network-enabled warfare capabilities, electro-optics, and simulation technology. Saab AB is a leading high-technology company with its main operations in defense, aviation, and civil security. Its operations are primarily focused on well-defined areas in defense electronics, advanced weapons systems, command and control systems, military and commercial aviation, and technical services and maintenance. Saab has a strong position in Sweden, and most of its sales are generated in Europe. It has a local presence in South Africa, Australia, the US, and other select countries. Saab is currently establishing competence hubs in different areas in these markets, aiming to share competence with other regions and export what they develop and produce to other countries. Raytheon Technologies develops engineering technologies related to defense, government electronics, and information technology. The company is one of the leading producers of guided missiles, anti-tank and anti-aircraft missiles, man-portable grenade launchers, and anti-tank and anti-aircraft guns. Raytheon offers a Quick-Kill Active Protection System, which consists of rocket-propelled grenades and anti-tank missiles with surgical accuracy to prevent and counterattack threats by shooting them down. Airbus has four decades of experience in providing and supporting defense services for militaries. Airbus provides interoperable and collaborative solutions in five major domains, which are Land, Air, Sea, Space, and Cyber. It is a global leader in space exploration and satellite imagery. Airbus proves its multidomain superiority by combining more than 50 years of field-tested technology. ASELSAN AS (ASELSAN) is the largest defense electronics company in Turkey whose capability/product portfolio comprises Our Other Publications: Homeland Security and Emergency Management Market by Vertical (Homeland Security, Emergency Management), Solution (Systems, Services), Installation (New Installation, Upgrade), End Use, Technology, and Region (2021-2026) Aviation Fuel Market by Fuel Type (Conventional Fuel-Air Turbine Fuel, Avgas, Sustainable Fuel- Biofuel, Hydrogen Fuel, Power-To-Liquid, Gas-To-Liquid), Aircraft Type (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicle) & Region- Global Forecast to 2030 Full-Body Scanners Market by End Use (Transport, Critical Infrastructure), Technology (X-ray, millimeter wave), Type (single view, dual view, 3D), Detection (Manual, Automatic) Component (Hardware, Software) and Region - Global Forecast to 2027 Contact: Like it? Share it! More by this author |