NEW YORK, Sept. 2, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global missiles and missile defense systems market size is estimated to grow by USD 13.94 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.43% during the forecast period. Increasing territorial disputes among nations is driving market growth, with a trend towards increasing adoption of ballistic missiles. However, cost and budget constraints associated with development and use of missiles and missile defense systems poses a challenge. Key market players include Almaz Antey Air and Space Defense Corp., BAE Systems Plc, Bharat Dynamics Ltd., China Aerospace Science and Technology Corp., Diehl Stiftung and Co. KG, EDGE Group PJSC, General Dynamics Corp., Israel Aerospace Industries Ltd., Kongsberg Gruppen ASA, L3Harris Technologies Inc., Lockheed Martin Corp., MBDA, Northrop Grumman Corp., Rheinmetall AG, RTX Corp., Saab AB, SAMI, Tactical Missiles Corp., Thales Group, and The Boeing Co..
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Forecast period
2024-2028
Base Year
2023
Historic Data
–
Segment Covered
Product (Missile defense systems, Surface-to-surface missile, Air-to-surface missile, Surface-to-air missile, and Others), End-user (Army, Airforce, and Navy), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)
Region Covered
North America, APAC, Europe, Middle East and Africa, and South America
Key companies profiled
Almaz Antey Air and Space Defense Corp., BAE Systems Plc, Bharat Dynamics Ltd., China Aerospace Science and Technology Corp., Diehl Stiftung and Co. KG, EDGE Group PJSC, General Dynamics Corp., Israel Aerospace Industries Ltd., Kongsberg Gruppen ASA, L3Harris Technologies Inc., Lockheed Martin Corp., MBDA, Northrop Grumman Corp., Rheinmetall AG, RTX Corp., Saab AB, SAMI, Tactical Missiles Corp., Thales Group, and The Boeing Co.
Key Market Trends Fueling Growth
The Missiles and Missile Defense Systems market encompasses the production, sale, and maintenance of missile systems used for offensive and defensive purposes. Key players include Raytheon, Lockheed Martin, and Northrop Grumman. Growth is driven by increasing geopolitical tensions and modernization of military forces. Missile defense systems, such as Patriot and THAAD, protect against ballistic and cruise missile threats. Offensive missile systems, like cruise and ballistic missiles, are used for strategic military advantage. Market size is expected to expand at a steady pace due to ongoing military modernization efforts.
The global missiles and missile defense systems market is experiencing significant growth due to ongoing military modernization efforts and regional conflicts. Key trends include medium and long range missiles, subsonic and supersonic missiles, and defense systems for various domains such as ground, air, marine, and space. Military spending on advanced weapon systems like fifth-generation Air Defense Systems, Air-To-Air Missiles, Surface-To-Air Missiles, Air-To-Surface Missiles, Anti-Ship Missiles, and Sea Breaker Missiles is driving market expansion. Defense contractors are investing in innovation, including propulsion systems, guidance technologies, warhead innovations, and precision engineering for strategic defense solutions. Simulation exercises and directed energy are also gaining attention. Regular maintenance and deployment of defense platforms, including aircraft, ships, and ground-based systems, are essential for effective missile defense. Overall, the market is focused on providing advanced, efficient, and cost-effective solutions to meet military requirements.
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Market Challenges
The Missiles and Missile Defense Systems market encompasses the production, sale, and maintenance of missiles used for offensive and defensive purposes. Key players in this industry include Raytheon Technologies, Lockheed Martin, and Northrop Grumman. These companies design, manufacture, and supply various types of missiles and missile defense systems to governments and military organizations worldwide. The market is driven by growing military expenditures and the need for advanced defense systems. Additionally, technological advancements and research and development initiatives contribute to market growth.The missiles and missile defense systems market is experiencing significant growth due to regional conflicts and military modernization efforts. Defense contractors are at the forefront of providing strategic defense solutions, developing advanced propulsion systems, guidance technologies, and warhead innovations. Precision engineering is crucial for testing and validating these systems on defense platforms such as aircraft, ships, and ground-based systems. Deployment, regular maintenance, and defense expenditures are ongoing challenges. Hypersonic missiles, AI-integrated systems, network-centric warfare, and cost-effective missile systems are emerging trends. Geopolitical tensions and security threats necessitate continuous modernization programs and international collaborations. Export controls and missile defense systems play a vital role in national security. Radar and sensor technologies, interceptors, military forces, precision-guided munitions, and AI-driven targeting systems are key components. The defense budget and missile defense programs prioritize ballistic missile defense, with systems like Patriot Advanced Capability-3 and stealth aircraft playing a crucial role in interception. Missile launchers and short-range systems are also essential for comprehensive defense.
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Segment Overview
This missiles and missile defense systems market report extensively covers market segmentation by
Product1.1 Missile defense systems1.2 Surface-to-surface missile1.3 Air-to-surface missile1.4 Surface-to-air missile1.5 OthersEnd-user2.1 Army2.2 Airforce2.3 NavyGeography3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America
1.1 Missile defense systems- The Missiles and Missile Defense Systems market is a significant sector in the global defense industry. Companies manufacture and sell various types of missiles for offensive and defensive purposes. Missile defense systems protect against incoming missile threats, ensuring national security. Market growth is driven by geopolitical tensions, military modernization, and technological advancements. Key players include Raytheon Technologies, Lockheed Martin, and Northrop Grumman. Collaborations, acquisitions, and research investments shape the competitive landscape.
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Research Analysis
The global missiles and missile defense systems market is driven by regional conflicts and military modernization efforts. The market encompasses various types of missiles, including ballistic and cruise missiles, as well as air defense systems. Key technologies shaping the market include propulsion systems, guidance technologies, and warhead innovations. Precision engineering, testing and validation, and defense budgets are crucial factors in the development and deployment of these systems. Missile defense programs, such as the Patriot Advanced Capability-3, are critical in countering ballistic missile threats. Stealth aircraft and fifth-generation weapon systems are also integral to missile defense strategies. Interception technologies, trajectory analysis, and artificial intelligence are key components of modern missile defense systems. The sea-launched Sea Breaker missile and surface-to-air missiles are notable examples of advanced weapon systems. Military spending on defense and research and development continues to fuel market growth.
Market Research Overview
The Missiles and Missile Defense Systems market is driven by regional conflicts and military modernization efforts worldwide. Propulsion systems, guidance technologies, and warhead innovations are key focus areas for defense contractors developing strategic defense solutions. Precision engineering, testing, and validation are crucial in ensuring the effectiveness of these systems. Defense platforms, including aircraft, ships, and ground-based systems, are essential for deployment and regular maintenance. Defense expenditures continue to rise due to geopolitical tensions and security threats, leading to the development of advanced missile defense systems. Hypersonic missiles, AI-integrated systems, network-centric warfare, and cost-effective missile systems are emerging trends in the market. Space-based missile defense and international collaborations are also gaining traction. Missile defense systems are integral to national security and include various types, such as ballistic missiles, surface-to-air missiles, air-to-air missiles, and anti-ship missiles. Radar and sensor technologies, interceptors, and military forces are essential components of these systems. Precision-guided munitions and AI-driven targeting systems are also crucial for effective interception. Military spending on missile defense programs is increasing, with the development of fifth-generation weapon systems and directed energy. Missile launchers, including short, medium, and long-range systems, are used in various domains, including air, ground, and marine. Simulation exercises are essential for testing and validating these systems’ capabilities. Geopolitical tensions, export controls, and defense budgets continue to influence the market’s dynamics. The market also includes various types of missiles, such as subsonic, supersonic, and hypersonic missiles, and defense systems for various domains, including ground, air, marine, and space.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ProductMissile Defense SystemsSurface-to-surface MissileAir-to-surface MissileSurface-to-air MissileOthersEnd-userArmyAirforceNavyGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
