Ballistic Missile Market by Launch Mode (Air-to-Air, Air-to-Surface, Subsea-to-Air), Range (Intercontinental, Intermediate-Range, Medium-Range), Application - Global Forecast 2024-2030

Ballistic Missile Market by Launch Mode (Air-to-Air, Air-to-Surface, Subsea-to-Air), Range (Intercontinental, Intermediate-Range, Medium-Range), Application - Global Forecast 2024-2030

The Ballistic Missile Market size was estimated at USD 5.10 billion in 2023 and expected to reach USD 5.38 billion in 2024, at a CAGR 5.76% to reach USD 7.56 billion by 2030.

A ballistic missile is a type of missile that follows a ballistic trajectory to deliver one or more warheads on a predetermined target. Rocket engines propel these weapons into the upper atmosphere, and then they follow an unpowered arc to reach their target. The expansion in the use of ballistic missiles is driven by several factors, including advancements in missile technology, increasing defense budgets, and the desire of nations to enhance their strategic military capabilities and deter potential threats. However, the proliferation of ballistic missiles can increase tensions and instability in international relations, as countries may feel threatened by others' capabilities and take preemptive measures. Moreover, developing and maintaining ballistic missile arsenals are costly, diverting resources from potentially beneficial economic investments. Addressing these challenges requires international cooperation to establish and enforce arms control agreements that limit the development, deployment, and proliferation of ballistic missiles while promoting diplomacy to resolve conflicts. The future opportunities in the ballistic missile market are expected to be shaped by technological advancements that enhance the effectiveness, accuracy, and survivability of these weapons systems. This includes the development of hypersonic missiles, which travel at speeds greater than Mach 5 and can maneuver to evade missile defense systems, and the integration of artificial intelligence for improved targeting and decision-making processes.

Regional Insights

In the Americas, the ballistic missile market is robust, supported by significant defense budgets and a high level of technological advancement. The United States places a strong emphasis on missile defense systems owing to its strategic military posture and global security commitments. Programs to develop and enhance ballistic missile capabilities are well-funded, reflecting the region’s focus on maintaining a technological edge in defense. Countries in Latin America have smaller markets, with activities mainly centered around procurement and upgrades of existing systems rather than the development of new technologies. European NATO members actively invest in missile defense systems in response to perceived regional threats, leading to moderate market growth. These investments often involve collaborations on multilateral defense projects, reflecting the region's interconnected security concerns. The Middle East, owing to ongoing regional tensions and the desire for military self-reliance, shows significant market activity. Countries such as Saudi Arabia and Israel are notable for their investments in advanced missile systems and defense capabilities. Asia-Pacific is witnessing rapid growth in the ballistic missile market, driven by escalating security tensions and an arms race among major countries. The region's diverse security concerns and rising defense budgets indicate a dynamic and expanding market for ballistic missiles and related technologies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Ballistic Missile Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing number of border threats and rising national security concerns
• Rising defense expenditure and increasing investment in the development of ballistic missile

Market Restraints

• High cost of developing and deploying ballistic missiles

Market Opportunities

• Advancements in the design and features of ballistic missiles
• Strategic contracts for the deployment of new-age ballistic missiles

Market Challenges

• Performance limitations associated with limited deterrence and vulnerability

Market Segmentation Analysis

• Launch Mode: High adoption of air-to-air ballistic missiles, suitable for a wide range of mission objectives
• Application: Growing need for ballistic missiles to tackle evolving threats in ocean military defense

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Ballistic Missile Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Ballistic Missile Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

South Korea Embarks on Pioneering Development of Ship-Launched Ballistic Missile Program

South Korea initiated the development of a ship-launched ballistic missile (SLBM) program. This pioneering endeavor aims to equip the nation's naval vessels with advanced ballistic missiles, bolstering their offensive and defensive capabilities against potential threats. The commencement of this program signifies South Korea's commitment to securing its maritime borders and strengthening its position in global naval defense.

Germany Invests in Enhanced National Defense with Raytheon's Patriot System

Germany signed a substantial agreement with Raytheon, a prominent defense contractor, awarding a USD 1.2 billion contract for the supply of Patriot air and missile defense systems. This strategic acquisition encompasses not only the advanced defense systems but also includes essential elements such as launchers, radar antennae, a comprehensive engagement control station, associated spare parts, and support services.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Ballistic Missile Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Ballistic Missile Market, highlighting leading vendors and their innovative profiles. These include Airbus SAS, Aselsan A.Ş., BAE Systems, Boeing Company, Denel SOC Ltd., Diehl Stiftung & Co. KG, General Dynamic Corporation, Israel Aerospace Industries, L3Harris Technologies Company, Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Rafael Advanced Defense Systems Ltd., Rheinmetall AG, Saab AB, Textron Inc, and Thales Group.

Market Segmentation & Coverage

This research report categorizes the Ballistic Missile Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Launch Mode
• Air-to-Air
• Air-to-Surface
• Subsea-to-Air
• Surface-to-Air
• Surface-to-Surface
• Range
• Intercontinental
• Intermediate-Range
• Medium-Range
• Short-Range
• Application
• Land Military Defense
• Ocean Military Defense

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year