Global Air Defense System Databank Market Report

Global Air Defense System Databank Market Report

The Air Defense System market was valued at $26,948.0 Million in 2022, and is projected to reach $33,032.2 Million by 2031 growing at a CAGR of 2.33% from 2023 to 2031. Short Range Air Defense (SRAD) System segment is expected to be the highest contributor to this market, with $11,132.4 Million in 2022, and is anticipated to reach $13,672.6 Million by 2031, registering a CAGR of 2.35%. Medium Range Air Defense (MRAD) System segment is anticipated to reach $9,915.0 Million by 2031 with the highest CAGR of 2.39%. Short Range Air Defense (SRAD) System and Medium Range Air Defense (MRAD) System segments collectively expected to account for about 71.2% share of the Air Defense System market in 2022, with the former constituting around 41.3% share. Medium Range Air Defense (MRAD) System and Short Range Air Defense (SRAD) System segments are expected to witness significant growth rates at a CAGR of 2.39% and 2.35% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 71.2% in the overall Air Defense System market in 2022, and is anticipated to reach 71.4% by 2031.