Missiles

Missiles

Global Missiles Market to Reach US$254.1 Billion by 2030

The global market for Missiles estimated at US$183.9 Billion in the year 2023, is expected to reach US$254.1 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2023-2030. Surface-to-Surface Missiles, one of the segments analyzed in the report, is expected to record a 4.5% CAGR and reach US$63.6 Billion by the end of the analysis period. Growth in the Air Defense Missiles segment is estimated at 4.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$49.7 Billion While China is Forecast to Grow at 7.8% CAGR

The Missiles market in the U.S. is estimated at US$49.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$53.9 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.5% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

Global Missiles Market - Key Trends and Drivers Summarized

What Are Missiles and How Do They Work?

Missiles are sophisticated guided weapons designed to deliver a payload from a launch point to a target with precision. They can be classified based on their launch mode, range, or the type of payload they carry, including conventional and nuclear warheads. Missiles operate using a propulsion system—rocket motors or jet engines—that drives them to their targets at high speeds. Guidance systems are crucial, with missiles employing various methods such as inertial guidance, radar guidance, or GPS navigation to find and strike their targets accurately. The technology behind missiles is complex and involves aerodynamics, rocket science, electronics, and materials science to ensure functionality under extreme conditions.

How Are Missiles Used in Modern Warfare?

The use of missiles has revolutionized modern warfare, offering nations the ability to project power rapidly across great distances. In military contexts, missiles serve various roles, from anti-tank and anti-aircraft weapons to strategic ballistic missiles capable of carrying nuclear warheads over intercontinental distances. The strategic importance of missiles is evident in their deterrent capability, as they can deliver swift, retaliatory strikes that complicate enemy planning and operations. Moreover, the development of anti-missile defense systems like the Patriot and S-400 has become crucial in protecting nations from aerial threats, including incoming missiles and aircraft.

What Trends Are Shaping the Future of Missile Technology?

Emerging technologies are dramatically shaping the future of missile systems. The integration of artificial intelligence (AI) is enhancing the accuracy and decision-making capabilities of missile guidance systems, allowing for more autonomous operations and adaptability in dynamic combat environments. Additionally, hypersonic missiles, which travel at speeds greater than Mach 5, are becoming a significant focus of military investment due to their ability to evade traditional missile defense systems. Another trend is the miniaturization of technology, which allows for smaller, yet more powerful, missiles that can be deployed in greater numbers, enhancing their strategic utility in battlefields.

What Drives the Growth of the Missile Market?

The growth in the missile market is driven by several factors. Increasing geopolitical tensions and the need for national and regional security enhancements compel countries to invest heavily in advanced missile systems. Technological advancements, such as the development of stealth capabilities and electronic countermeasures, are critical in shaping procurement strategies as nations seek to maintain technological superiority. Additionally, shifts in military strategy towards asymmetric warfare and the increasing role of unmanned aerial vehicles (UAVs) necessitate the integration of missiles into these platforms. Consumer behavior, particularly the demand from governments for quick-reaction, high-precision weapons systems, also significantly influences market dynamics.

Select Competitors (Total 24 Featured) -

• BAE Systems Plc
• Israel Aerospace Industries Ltd.
• Leonardo S.p.A.
• Lockheed Martin Corporation
• MBDA Missile Systems
• RUAG AG
• Safran SA
• Thales Group
• The Boeing Company

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