Active protection system (APS) is a next-generation system that is integrated into or installed on a combat vehicle to defend itself against enemies automatically. An integrated radar system along with sensors, launchers, and countermeasure munitions is used in the design of active protection systems, allowing the system to shoot down interfering missile threats. Moreover, the system operates with a high accuracy, minimizing collateral damage. It provides high-performance anti-tank protection for armored fighting vehicles (AFVs) primarily battle tanks, light tanks, armored infantry fighting vehicles, and wheeled armored vehicles.
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COVID-19 Impact Analysis:
COVID-19 pandemic had a significant impact on the defense industry. The imposed lockdown has severely disrupted the aerospace & defense supply chain industry. Furthermore, all of the major countries have prioritized their health budgets while reducing the defense budget. There was also a disruption in the manufacturing of defense equipment., It impacted the demand and delayed deliveries resulting in massive losses for the active protection system market. For instance, the Republic of Korea Armed Forces planned to cut $240 million from their defense budget during 2019-2020. Furthermore, the European Union low defense budget had a significant impact on demand for defense equipment and active protection system-related services. Furthermore, the decrease in defense spending and slow Active Protection System (APS) production have hindered the market growth. Furthermore, defense is an evolving sector that suffered a setback as a result of the pandemic but is expected to recover quick post-pandemic and drive the growth of the active protection system market.
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Top Impacting Factors
Rise in demand for advanced combat systems, increase in demand for new generation battle tank, and surge in government investment in military & defense drive growth of the market.
However, high cost of acquisition & installation and rise in cyber-attacks hinder the market growth.
Rise in use of trophy active system, rise in terrorist attacks & threats, and rise in R&D for new defense system act as an opportunity for market growth.
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Key Benefits of the Report:
- This study presents the analytical depiction of the active protection system market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the active protection system market.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the active protection system market.
- The report provides detailed active protection system market analysis based on competitive intensity and the competition that will take shape in coming years.
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Questions Answered in the Active Protection System Market Research Report:
- Who are the leading market players active in the active protection system market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the active protection system market?
- What are the future projections that would help in taking further strategic steps?
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