The changing nature of modern warfare is one of the most important factors driving the demand for air defence systems across the globe. The nature of warfare has improved over the years with various technological advancements taking place in the defence sector, which has resulted in increased defence expenditure across the globe. The changing nature of aerial warfare across the globe has led to the acquisition of advanced air defence systems by various countries, which help them defend themselves from unwanted aerial threats.

Based on platform, the naval segment of the air defence system market is projected to grow at the highest rate during the forecast period.  The naval air defence capability of a ship is crucial for its survival. Naval air defence systems offer complete protection against all types of projected and known air threats. Continuous advancements and modifications in naval air defence systems are expected to drive the growth of the naval segment of the air defence system market during the forecast period.

Based on range, the long range air defense (LRAD) system segment is estimated to account for the largest share of the air defense system market in 2017. An increase in attack threats from intercontinental ballistic missiles across the globe is fueling the growth of the long range air defence (LRAD) system segment of the air defence system market.

In terms of type, it is the missile defence system sector of the market that is projected to lead the air defence system market during the forecast period. The growth of this segment of the market can be attributed to increased investments by countries such as the US, China, Iran, India, Russia, North Korea, and France for the development of advanced missile defence systems.

The Asia Pacific region is projected to lead the market during the forecast period. Moreover, the Asia Pacific air defence system market is projected to grow at the highest CAGR from 2017 to 2024. Rising incidences of insurgencies, territorial disputes, terrorism, and unrest between neighboring nations, along with increased defense spending by emerging economies of the Asia Pacific region are the factors fueling the growth of the Asia Pacific air defence system market.

The ecosystem of the air defence system market includes manufacturers of air defence systems such as Saab, Israel Aerospace, Raytheon, Thales, Lockheed Martin, Hanwha and BAE Systems among others.