Research: Rafael at the Top 5 Global Players in the SHORAD Missile System Market
A market research report identifies Rafael Advanced Defense Systems to be one of the top vendors in the global SHORAD missile system market. It also marks Europe and APAC as key regions for this market
Ami Rojkes Dombe
| 01/11/2016
Aero India Airshow SPYDER Missile Tatra Truck Bangalore *HD* - YouTube
A Technavio market research report named the Israeli company Rafael Advanced Defense Systems as one of the key vendors in the global SHORAD (short-range air-defense) missile system market. The other top players in this market are reportedly General Dynamics, Lockheed Martin, MBDA, and Raytheon.
According to the report, the SHORAD market is highly competitive where the vendors compete on the basis of product quality, cost, reliability, and aftermarket service. To sustain themselves in such a competitive environment, they need to provide cost-effective and high-quality interceptors, equipped with the latest technologies.
Key vendors have a competitive edge over the regional and local vendors in terms of in-house manufacturing capabilities, global footprint network, product offerings, R&D investments, newer technologies, and strong client base. The market is likely to witness mergers and acquisitions, along with increased collaboration with alliance partners across the globe during the forecast period.
The report states that Asia Pacific (APAC) is anticipated to be the fastest-growing region in the SHORAD missile system market, posting the highest growth rate of around 5% during the forecast period. The rise in the defense budget and subsequent development of defensive weapons will be a major growth driver for the market in this region.
The increasing number of maritime conflicts in the Indian Ocean and the South China Sea has prompted several countries like China, India, Australia, and South Korea to enhance their sea-border capabilities and focus on measures against ballistic missiles.
Rafael Advanced Defense Systems is the producer of the Iron Dome and the Spyder missile systems.
A market research report identifies Rafael Advanced Defense Systems to be one of the top vendors in the global SHORAD missile system market. It also marks Europe and APAC as key regions for this market
Aero India Airshow SPYDER Missile Tatra Truck Bangalore *HD* - YouTube
A Technavio market research report named the Israeli company Rafael Advanced Defense Systems as one of the key vendors in the global SHORAD (short-range air-defense) missile system market. The other top players in this market are reportedly General Dynamics, Lockheed Martin, MBDA, and Raytheon.
According to the report, the SHORAD market is highly competitive where the vendors compete on the basis of product quality, cost, reliability, and aftermarket service. To sustain themselves in such a competitive environment, they need to provide cost-effective and high-quality interceptors, equipped with the latest technologies.
Key vendors have a competitive edge over the regional and local vendors in terms of in-house manufacturing capabilities, global footprint network, product offerings, R&D investments, newer technologies, and strong client base. The market is likely to witness mergers and acquisitions, along with increased collaboration with alliance partners across the globe during the forecast period.
The report states that Asia Pacific (APAC) is anticipated to be the fastest-growing region in the SHORAD missile system market, posting the highest growth rate of around 5% during the forecast period. The rise in the defense budget and subsequent development of defensive weapons will be a major growth driver for the market in this region.
The increasing number of maritime conflicts in the Indian Ocean and the South China Sea has prompted several countries like China, India, Australia, and South Korea to enhance their sea-border capabilities and focus on measures against ballistic missiles.
Rafael Advanced Defense Systems is the producer of the Iron Dome and the Spyder missile systems.
