Missile Seekers Market to Reach USD 10.15 Billion by 2030; Increasing Demand for Infrared-based Systems to Bolster Growth, says The Brainy Insights

The missile seekers market in North America is being driven by the US military's increasing demand for enhanced defense systems.

Newark, May 30, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global missile seekers market is expected to grow from USD 6.04 billion in 2021 to USD 10.15 billion by 2030, at a CAGR of 5.94% during the forecast period 2022-2030.

The changing nature of warfare will be a significant driver of the missile seekers industry in the coming year. As technology advances, new and advanced defensive systems, such as air defense systems and guided missiles for attacking moving targets, are being developed. Because of the evolving nature of conflict worldwide, the military from numerous countries has acquired superior missile fire and defense capabilities. Low-intensity battles are becoming more common among these militaries. The Indian military's response to the Pulwama incident, in which fighter jets from the Indian Air Force used guided missiles to bomb a terrorist base in Balakot (Pakistan), illustrates the changing character of warfare. Countries with advanced missile defense capabilities can protect themselves against rocket and missile assaults. For example, Israel's Iron Dome air defense system has successfully intercepted over 2,500 missile and mortar strikes.

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Competitive Strategy

To enhance their market position in the global missile seekers market, the key players are focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• In July 2021, Lockheed Martin granted BAE Systems a $117 million contract to build next-generation missile seekers for the Long Range Anti-Ship Missile (LRASM). LRASM can use seeker technology instead of standard navigation systems to locate and engage particular marine targets in disputed conditions. Overall, missile costs are reduced due to the next-generation seeker design. For Lots 4 and 5, BAE Systems is developing next-generation seekers capable and easier to manufacture, with fewer sophisticated production methods. The next-generation seekers have significantly reduced the system cost by replacing obsolete and limited-availability parts.

Market Growth & Trends

The US, a significant consumer of missiles, is expected to have potential in the missile seekers market as its stock of missiles depletes. The increasing tension between China and the United States, which might escalate into a naval conflict, necessitates preparing for such an event. The rapidly decreasing stock of missiles will be immediately replenished, resulting in a tremendous demand for missile seekers to use those missiles. It will strengthen the market for missile seekers. Missiles are linked to weapons of mass devastation. As a result, specific guidelines for the usage of missiles must be observed. The launching of missiles is highly restricted in cities with considerable populations of citizens and infrastructure that a missile strike may destroy. As a result, missiles are not chosen above other weapons by the most powerful countries. The market for missile seekers is expected to have potential as demand for infrared-based missile seeker systems grows. It is due to the infrared-based missile seeker system's several benefits. It can, for example, track heat created by an item. As a result, missile guidance systems can follow a target using the heat it produces. Infrared is also a passive homing technique used in anti-aircraft missiles.

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Key Findings

• In 2021, the infrared segment dominated the market with the largest market share of 21.48% and market revenue of 1.29 billion.

The technology segment comprises active radar, passive radar, laser, semi-active radar, multi-mode, and infrared. In 2021, the infrared segment dominated the market with the largest market share of 21.48% and market revenue of 1.29 billion. Infrared homing is a passive missile guiding system that uses the infrared electromagnetic radiation range to follow and track a target. Hot substances radiate infrared (IR), slightly below the visible light spectrum in frequency. As a result, missiles that use it are called "heat-seekers." Many items, such as humans, car engines, and airplanes, create and retain heat, making them more visible in infrared wavelengths of light than background objects. These characteristics have propelled the growth of the market in 2021.

• The surface-to-air segment held the second-largest market share of 27.59% and market revenue of 1.66 billion.

The launch mode segment is divided into surface-to-surface, air-to-surface, surface-to-air, and air-to-air. The surface-to-air segment held the second-largest market share of 27.59% and market revenue of 1.66 billion. Surface-to-air missiles and rockets are launched from the ground aimed at airborne targets like planes and helicopters. They're also employed to shoot down other missiles. These missiles are used in anti-air warfare activities and are a vital component of an anti-aircraft system.

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Regional Segment Analysis of the Missile Seekers Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, North America emerged as the largest market for the global missile seekers market, with a market share of around 28.74% and 1.73 billion of the market revenue in 2021. North America continues to have a substantial share of the missile seeker market, which is also predicted to continue during the forecast period. Due to R&D by many major manufacturers in the United States and partnerships with defense agencies to improve combat systems, the missile seekers industry in the area is expanding.

Key players operating in the global missile seekers market are:

• Boeing
• Safran Group
• Thales
• BAE Systems
• Raytheon Technologies
• Leonardo S.p.A.
• Northrop Grumman Corporation
• Analog Devices, Inc.
• Bharat Electronics Limited
• Excelitas Technologies Corp.
• Kongsberg Gruppen ASA
• Rafael Advanced Defense Systems Ltd.
• Tata Advanced Systems Limited
• Aselsan
• Janos Technology Inc.
• National Instruments Corporation
• Tonbo Imaging Pvt Ltd.
• SemiConductor Devices
• Diehl Defence GmbH & Co. KG

This study forecasts revenue at global, regional, and country levels from 2022 to 2030. The Brainy Insights has segmented the global missile seekers market based on the below-mentioned segments:

Global Missile Seekers Market by Technology:

• Active Radar
• Passive Radar
• Laser
• Semi-active Radar
• Multi-mode
• Infrared

Global Missile Seekers Market by Launch Mode:

• Surface-to-Surface
• Air-to-Surface
• Surface-to-Air
• Air-to-Air

About the report:

The global missile seekers market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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