23 Jul 2021
Posted in Aerospace, Defense & Security
China and India likely to be pitched for Russia’s next-generation S-500 air defense system, says GlobalData
Following the news that the Russian Ministry of Defence released footage of the S-500 Prometey missile defense system in action;
Sourabh Banik, Aerospace & Defense Analyst at GlobalData, a leading data and analytics company, offers his view:
“Apart from becoming the mainstay air defense system of Russian forces, the S-500 has potential to become a major export item for Russia’s defense industry in the future, especially in the Asia-Pacific (APAC) region. Having already purchased the previous generations of this air defense system, S-300 and S-400, China and India are likely to be pitched by Russian authorities for export orders of the S-500. Presently, Russian air and missile defense systems have been deployed by various governments across the world, including NATO member Turkey, which procured four S-400 batteries.
“According to GlobalData, countries in the APAC region are likely to spend around $79.2bn on air and missile defense systems in the next ten years. Meanwhile, Russian companies have already captured 11% of the market in the form of signed contracts as of 2021, and are eyeing up more deals in the future. A successful introduction of S-500 within Russian forces in the near term will certainly pique the interest of foreign buyers for this system.”