Industry Background:
Missile defense systems are a type of missile defense planned to protect a country against incoming missiles such as intercontinental ballistic missiles (ICBMs) or other ballistic missiles. There are various countries that develop missiles including the United States, Russia, India, France, Israel, and China. There are different types of missile such as cruise missiles, ballistic missiles, air-to-air missiles, directed energy weapons, and anti-satellite weapons.
According to AMA, the market for Missile Defense System is expected to register a CAGR of 6.1% during the forecast period to 2026. This growth is primarily driven by Rising Investment of Developed County in Missile and Increasing Demand Due To Rise in Security Threats.
Globally, a noticeable market trend is evident Growing Demand of Ballistic Missile Systems
. The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as MBDA (France), Raytheon (United States), China Aerospace Science and Industry Corporation (China), Almaz Antey (Russia), Rafael Advanced Defense Systems (Israel), Lockheed Martin (United States), Boeing (United States), Kongsberg Defense Systems (Norway), Saab (Sweden) and Northrop Grumman (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
29th July 2019 Raytheon Company is upgrading Germany's Patriot Integrated Air and Missile Defense System to the most current configuration available under a USD105.5 million direct commercial sales contract from the NATO Support and Procurement Agency. and On 17th June 2019, Raytheon Company is integrating a Warfighter-Machine Interface, or WMI, into PDB 8.1., a soon-to-be-fielded Patriot upgrade. This new command and control technology allows coalition operators of Raytheon's combat-proven Patriot™ air and missile defense system to view complex data in a new, easy-to-understand way.
On 29th August 2018, Raytheon has acquired ESSM Spare Parts. The deal was established for 25 million dollars. and On 23rd March 2018, the supersonic cruise missile BrahMos, created by the joint venture between Defense Research and Development Organisation (DRDO), India and NPO Mashinostroyenia, Russia, was successfully flight-tested for first time at Pokhran test range, Rajasthan, India.
Market Drivers
- Rising Investment of Developed County in Missile
- Increasing Demand Due To Rise in Security Threats
Market Trend
- Growing Demand of Ballistic Missile Systems
- Strengthening Defense is Vital Aspect for Nations
Restraints
- High Cost of Missile Defense System
Opportunities
Rising Opportunities in Emerging Economics and Technological Advancements in Radars
Challenges
Introduction of Military Aircraft Segments
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Missile Defense System Study Sheds Light on
The Missile Defense System Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Missile Defense System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Missile Defense System industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.