Missiles and Missile Defense Systems Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Missiles and Missile Defense Systems Market size is projected to reach a CAGR of 4.4% from 2023-2030.
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The missiles and missile defense systems market encompasses the traditional aspects of defense forces categorization, including the procurement, upgrade, and modernization plans for capability enhancement of global defense forces. Missile defense systems include land and marine-based technologies used by the defense forces to guard against a variety of missiles, including cruise and ballistic missiles.
The growing conflicts between various countries and the increasing number of investments in missile defense systems being made by different countries worldwide are the major factors driving the market. Technological advancements, in terms of missiles and missile defense systems, may lead to various countries procuring advanced missile defense systems, which may propel growth in the near future.
Regional Analysis
Asia Pacific to Dominate the Market
• Asia-Pacific region is expected to dominate the global missiles and missile defense systems market from 2023 to 2030. The region is anticipated to be one of the most lucrative markets for suppliers of lucrative equipment due to increased defense spending by key countries such as India, China, and South Korea, among others.
• China’s dominance in regional spending is attributed to its intention to bridge its military capability gap with the US and maintain its hegemony in the Asia-Pacific region. Furthermore, China has been growing its sphere of influence in the region and has also increased its military exports to several other smaller countries in the past decade.
Competitive Landscape
• Raytheon Company
• Boeing
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Frontier Electronic Systems Corp.
• Thales Group
• Israel Aerospace Industries Ltd
• ASELSAN A
• Kongsberg Gruppen ASA
• Saab AB
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Recent Developments
• In January 2022, the Philippines signed an agreement with BrahMos Aerospace Private Ltd for the procurement of an anti-ship variant of the BrahMos supersonic cruise missile. The contract is the first export order for the missile and is worth USD 375 million.
• In November 2021, MBDA announced that the company successfully completed the final test firing of the Marte ER anti-ship missile. The functional capabilities and production hardware embedded in the missile are the same as the standard missile. However, the warhead of the missile is inert, unlike the live one in the standard missile. The missile system is expected to become operational by 2022.
The Missiles and Missile Defense Systems Market is segmented into various segments such as range, missile type, and region:
On the basis of a range
• Short (Up to 1,000 kms)
• Medium (Between 1,000 kms and 3,000 kms)
• Intermediate (Between 3,000 kms and 5,500 kms)
• Intercontinental (More than 5,500 kms)
On the basis of missile type
• Missile Defense Systems
• Anti-aircraft Missiles
• Anti-ship Missiles
• Anti-tank Missiles
On the basis of region
• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
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In addition to the market data for the Missiles and Missile Defense Systems Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.
Frequently Asked Questions:
What are the years considered to study Missiles and Missile Defense Systems Market?
The Missiles and Missile Defense Systems Market is studied from 2023-2030.
What is the compound annual growth rate (CAGR) of the Missiles and Missile Defense Systems Market?
The Missiles and Missile Defense Systems Market is growing at a CAGR of 4.4% during the forecast period.
Which region holds the largest market share in the Missiles and Missile Defense Systems Market?
North America holds the highest share in 2022 for the Missiles and Missile Defense Systems Market.
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