Dublin, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The "Missiles and Missile Defense Systems Market Size and Trend Analysis by Segments, Key Programs, Competitive Landscape and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The global missiles and missile defense systems market is expected to grow at a CAGR of 4.2%
The Global Missiles and Missile Defense Systems Market 2023-33 report provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years.
The report covers industry analysis, including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for the missiles and missile defense systems market over the forecast period.
The air defense modernization and precision strike missile procurement programs by key defense spending countries, such as the US, Russia, China, India, Australia, Poland, and the UK, are anticipated to drive the demand for missiles and missile defense systems over the next decade.
As tensions continue to simmer in Eastern Europe due to the Russian invasion of Ukraine, several European countries have donated their missiles and missile defense systems to Ukraine, due to which their inventories have depleted in recent months. In this regard, there has been an increase in missile procurements by European countries to restore the stockpiles to optimum levels and meet their national security requirements.
In addition, the changing geopolitical landscape is also forcing the European countries to put efforts into bolstering their missiles and missile defense systems capabilities to levels stronger than the pre-conflict era, which will further drive the market in the coming decade.
Apart from the US and European countries, several emerging military powers in the Asia-Pacific and Middle Eastern regions have initiated next-generation missiles and missile defense systems procurement programs, driven by the unique security challenges and evolving geopolitical dynamics in the region. With the proliferation of ballistic missile technology in the region, countries such as India, Saudi Arabia, Israel, and the UAE have invested in acquiring and developing advanced missile defense systems.
The missiles segment is anticipated to be the largest segment in the global missiles and missile defense systems market between 2023 and 2033. Increasing demand for precision strike missiles among the armed forces is expected to drive the growth of the missiles segment over the forecast period.
The commissioning of next-generation military platforms such as aircraft, guided missile frigates, destroyers, corvettes, and submarines is also anticipated to create demand for their weapons payloads, including missiles. Furthermore, the increased focus on the integration of long-range conventional land attack capabilities into modern military platforms is also driving spending on new missile categories.
Major defense-spending countries, including the US, Russia, the UK, France, China, India, and Australia, are investing heavily in the development of hypersonic missiles to improve their military capabilities.
According to Kandlikar Venkatesh+N2, Defense Analyst 'the need to replenish aging inventories of missiles and replace outdated air defense systems with next-generation missile defense systems that are capable of countering the growing threat of fifth-generation combat aircraft and unmanned aerial vehicles (UAVs) is anticipated to be a major factor driving the missiles and missile defense systems market growth over this decade. The missile defense systems segment will see strong investments over the forecast period from Asia-Pacific and Europe due to the increased focus on indigenous weapon development and manufacturing capabilities.'
The Europe region is expected to dominate the global missiles and missile defense systems market between 2023 and 2033
The ongoing conflict between Russia and Ukraine has had significant implications for Europe's missile and missile defense industries. It has led to increased regional security concerns, highlighted the importance of collective defense within NATO, and spurred the development of indigenous missile capabilities. The conflict has also emphasized the importance of interoperability and cooperation among European nations. It has highlighted the need for seamless coordination and joint efforts in defending against ballistic missile threats.
Key Highlights
- The global missiles and missile defense systems market is classified into two categories: missiles and missile defense systems
- Europe is expected to dominate the global missiles and missile defense systems market over the forecast period with a market share of 31.1%, followed by Asia-Pacific and North America
- Missiles is expected to be the largest segment over the forecast period
Who Should Buy
- Defence Startup's, Original Equipment Manufacturers (OEMs), Defence Planners, Missiles and Missile Defense Systems Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives
- The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements
- The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups
Scope
- Market size and drivers: Detailed analysis during 2023-2033, including the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing missiles and missile defense systems projects being executed and planned worldwide. It also provides procurement trends and the challenges faced by industry participants
- Regional highlights: Study of the key regional markets, providing a demand analysis of multiple missiles and missile defense systems segments
- Major programs: Details of the key programs in each segment, which are expected to be executed during 2023-2033
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global missiles and missile defense systems market. It provides an overview of key players, their strategic initiatives, and financial analysis
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global missiles and missile defense systems over the next ten years
- Gain an in-depth understanding of the underlying factors driving demand for different missiles and missile defense systems segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major countries that are driving the global missiles and missile defense systems market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global missiles and missile defense systems market
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top missiles and missile defense systems providers around the world. The company profiles also include information about the key products, alliances, recent contracts awarded, and financial analysis, wherever available.
Key Topics Covered:
Executive Summary
- Global Missiles and Missile Defense Systems Market: Overview
Market Dynamics
- Demand Drivers
- Trends
- Technological Developments
- Key Challenges
Global Missiles and Missile Defense Systems Market: Segment Analysis
- Segment Analysis: Missiles
- Segment Analysis: Missile Defense Systems
- Global Missiles and Missile Defense Systems Market - Regional Analysis
- Global Missiles and Missile Defense Systems - Regional Overview
Competitive Landscape and Key Programs
- Leading Market Players
- Key Programs
A selection of companies mentioned in this report includes
- RTX Corp (RTX)
- Lockheed Martin Corp
- MBDA Holdings SAS
- China Precision Machinery Import-Export Corp
- Almaz-Antey Concern
- Northrop Grumman Corp
- Bharat Dynamics Ltd
- LIG Group
- Defence Research and Development Organisation
- Leidos Holdings Inc
- Tactical Missiles Corporation
- Brahmos Aerospace Pvt Ltd
- Israel Aerospace Industries Ltd. Diehl Stiftung & Co KG
- Kongsberg Gruppen ASA
- Eurospike GmbH
- The Boeing Co
- China Aerospace Science and Technology Corp
- Moscow Institute of Thermal Technology
- BAE Systems Plc
- The Boeing Co
- Mitsubishi Heavy Industries Ltd
- Elbit Systems Ltd
- Saab AB
For more information about this report visit https://www.researchandmarkets.com/r/y8sn4l
Source: GlobalData
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