Ballistic Missile Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Ballistic Missile Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The ballistic missile market is anticipated to record a CAGR of over 6% during the forecast period (2020 - 2025).

Key Highlights

• The increasing GDP and the consequent growth in the defense spending of countries across the world are expected to result in a surge in investments for the development and procurement of ballistic missiles during the forecast period.
• The increasing national security concerns and border threats may drive the demand in the ballistic missile market during the forecast period.
• The development of nuclear ballistic missiles by the major military superpowers is expected generate huge demand for ballistic missiles in the future.

Key Market TrendsIntercontinental Segment is Projected to Witness the Highest Growth During the Forecast Period

The intercontinental segment of the market is expected to record the highest CAGR during the forecast period. Due to their advantages of high accuracy at higher ranges compared to small-, medium-, and intermediate-range missiles, countries are now developing and testing new and advanced intercontinental ballistic missiles, which may drive the growth of this segment during the forecast period. For, instance, Russia tested the Topol MR intercontinental ballistic missile in February 2019. The country had also tested the Sarmat missile intercontinental ballistic missile in March 2018. Additionally, in Asia-Pacific, India successfully test-fired the long-range intercontinental ballistic missile (ICBM), Agni-V, from the eastern coastal state of Odisha. Such intensified developments and testing of new intercontinental ballistic missiles are largely contributing to the growth of the market for ballistic missiles.

Asia-Pacific is Projected to Record the Highest Growth During the Forecast Period

Asia-Pacific is anticipated to record the highest growth during the forecast period. China is investing heavily in ballistic missile-related technologies, to deter incursions into the Chinese territory, by both aircraft and potential long-range strike weapons. Ballistic missile developments in North Korea also act as a key missile procurement driver for Japan and South Korea. The Indian government undertook the Ballistic Missile Defence Program to develop and deploy a multi-layered ballistic missile defense system to protect the country from the increasing ballistic missile threats from China and Pakistan.

Competitive Landscape

The concentration of players in the ballistic missile market is high. The prominent players in the market are BAE Systems PLC, General Dynamic Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, and DRDO. Government investments in state-owned companies for the development of advanced ballistic missiles are helping the regional players increase their presence in the market. Also, partnerships between players in various fields, like propulsion systems, warhead designs, and body designs, are likely to help companies develop advanced missile systems, as they share technologies with each other.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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