According to Stratistics MRC, the Global Missiles and Missile Defense Systems Market is accounted for $14.29 billion in 2022 and is expected to reach $30.39 billion by 2028 growing at a CAGR of 13.39% during the forecast period.
The defence forces deploy land- and sea-based technologies known as missile defence systems to protect against a range of missiles, such as ballistic and cruise missiles. Due to an increase in hostilities and warlike events around the world, there is an increasing need for missile defence systems have grown at a tremendous rate.
Various enemy airborne forces, including aircraft, unmanned aerial vehicles (UAVs), and ballistic and cruise missiles, are monitored by air and missile defence systems. For surveillance, these systems often employ long-range L-band radars and satellites. These technologies give command and control systems the ability to track and receive early warning signals. In addition to developing intercontinental ballistic missiles, nations like the US, Russia, China, India, and North Korea are also developing hypersonic missiles. In order to properly defend against airborne threats, early warning systems are necessary. As a result, numerous nations are making large investments in the creation of such systems.
By geography, North American is projected to hold the largest market share during the forecast period owing to the United States’ greatest level of military spending. The nation is making significant investments in the creation and acquisition of new missile and missile defence systems. The nation intends to buy Hellfire missiles, Joint Air-to-Surface Missiles (JASSM), Joint Direct Attack Munitions (JDAM), Long Range Anti-Ship Missiles (LRASM), and Standard Missiles (SM)-6 under the Missiles and Munitions budget, while it plans to buy additional Standard Missile 3 Block IB and IIA missiles and THAAD interceptors under the Missile Defense programmes.
Some of the key players profiled in the Missiles and Missile Defense Systems Market include Israel aerospace industries, Boeing company, Lockheed martin corporation Rafael advanced defense systems ltd., Northrop Grumman corporation, Raytheon technologies corporation, Bae systems, Leonardo S.P.A., Saab Ab, Hanwha defense, Safran, Rheinmetall, MBDA, Aselsan A.S., General Dynamics Corporation, Tactical Missile Corporation, Kongsberg Gruppen ASA, Roketsan Roket Sanayii ve Ticaret AS.
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By Missile Types:
- Missile Defense Systems
- Anti-aircraft Missiles
- Anti-ship Missiles
- Anti-tank Missiles
By Ranges:
- Long
- Medium
- Short
By Threat Types:
- Subsonic Missiles
- Supersonic Missiles
- Hypersonic Missiles
By Domains:
- Air
- Marine
- Ground
- Space
By Technologies:
- Weapon System
- Countermeasure System
- Command & Control System
- Fire Control System
By Applications:
- Defense
- Homeland Security:
- Missile Defense Systems
- Anti-aircraft Missiles
- Anti-ship Missiles
- Anti-tank Missiles
By Ranges:
- Long
- Medium
- Short
By Threat Types:
- Subsonic Missiles
- Supersonic Missiles
- Hypersonic Missiles
By Domains:
- Air
- Marine
- Ground
- Space
By Technologies:
- Weapon System
- Countermeasure System
- Command & Control System
- Fire Control System
By Applications:
- Defense
- Homeland Security
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- Market estimations, Forecasts and CAGR of any prominent country as per the client’s interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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