Missiles and Missile Defense Systems Market Forecasts to 2028 – Global Analysis by Missile Type (Missile Defense Systems, Anti-aircraft Missiles, other types), Range (Long, Medium, Short), Threat Type (Subsonic Missiles, Supersonic Missiles, Hypersonic Missiles), Domain (Air, Marine other Domains), Technology, Application and By GeographyAccording 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. Missile defence systems protect civilians and national assets from missile assaults.
According to a new Congressional Budget Office (CBO) report published in January 2021, the U.S. Department of Defence’s (USDoD) missile defense costs could reach a massive $176 billion between 2020 and 2030. CBO’s 10-year cost estimations include costs associated with research, development, sustainment, procurement, and operation of missile defences.
Market Dynamics:
Driver:
Increasing use of early warning systems for potential air and missile attacks
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.
Restraint:
High cost of missile defense systems
One of the main elements igniting the missile defence programme has been the expense. A missile defence system's success or failure is frequently hammered on this anvil. Cost should never be the only factor considered when deciding whether to implement or scrap a technology. The construction or acquisition of missile defence systems is essential in the current context of an increase in conflicts and warlike circumstances being observed throughout the world to protect the national borders. However, due to their exorbitant price, only a few countries throughout the world are able to purchase missile defence systems
Opportunity:
Development of new-generation air and missile defense systems
Strategic platforms and locations, such as military airbases and ships, are seriously threatened by the development of new-generation missiles with cutting-edge technologies. High-speed cruise missiles and nuclear-capable ballistic missiles are a couple of these recent innovations. Many nations are working on creating such cutting-edge weapons that can overcome sophisticated air defence systems. These developments have led to the requirement for new-generation high-speed air defense electronic warfare systems. The creation of stealth aircraft is a priority for governments all around the world. In order to fight stealth technology, they are concurrently making significant investments in cutting-edge surveillance systems.
Threat:
Inability of missile defense systems to intercept threats
Even though a missile is slowest during its boost (starting) phase, missile defence systems are currently only created and designed to carry out an interception at the mid-course (middle) or terminal (final) stage of a missile's trajectory. recommending the contentious development of space-based interceptors or other cutting-edge technologies, like drones or lasers. There have also been suggestions for ""left of launch"" capabilities, which would try to stop a missile threat before it even launches.
Covid-19 Impact
The COVID-19 outbreak has presented the defence sector with a number of difficulties. Even though the business wasn't significantly impacted, the COVID-19 epidemic led to numerous economic issues. The worldwide defence sector has suffered since the outbreak's start. The defence industry has been somewhat damaged by the drying up of private funding, the reduction in global defence spending in 2020, and the suspension of scheduled contracts. The testing of some missile defence equipment has therefore been postponed as a result of the delay in research and development for the missile defence system. In addition, many businesses are anticipated to experience a drop in production as a result of the missile defence system's supply chain slowing down as a result of COVID-19.
The Surface-to-air missiles (SAMs) segment is expected to be the largest during the forecast period
By technology, the missile defence system market was dominated by the weapon system segment. To eliminate approaching threats, such as ballistic missiles, weapon systems such as interceptors, gun/turret systems, and missile launchers are deployed. Surface-to-air missiles (SAMs) of any type can be launched from the ground using missile launchers to intercept incoming enemy missiles. A missile launcher can be integrated with the command and control centres of missile defence systems in addition to being able to launch missiles. By accurately assessing the threat and making the necessary command decisions for missile defence fire, commanders and crew of missile defence systems are able to improve the execution of their air and missile defence operations.
The Subsonic Missiles segment is expected to have the highest CAGR during the forecast period
The market for missile defence systems has been divided into subsonic, supersonic, and hypersonic missile segments based on the type of threat. According to threat category, the market for Subsonic Missiles systems is predicted to grow at the greatest CAGR rate. Some of the key factors propelling the growth of the threat type sector of the missile defence system market include technological improvements, ongoing R&D, and the demand for sophisticated missile defence systems globally.
Region with highest share:
The market is now dominated by the North American region, and it is anticipated that this dominance will last during the projected period. The United States spends the most on its military, which is the main reason for this. The nation is making significant investments in the creation and acquisition of new missile and missile defence systems. Because the government is also spending in the development of new missile systems
Region with highest CAGR:
During the projected period, a CAGR is anticipated for the Asia-Pacific market for missiles and missile defence systems. One of the world's most active regions for armed warfare has been Asia-Pacific. The increasing number of territorial concerns in the region drove the countries to buy modern missiles and missile defence systems to enhance their defences against possible attackers. The expansion of various countries' military budgets in the area has also made it easier to buy more modern missiles and missile defence systems, which is fueling the market's expansion.
Key players in the market
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.
Key Developments:
In November 2021, MBDA announced that the company completed the final test firing of the Marte ER anti-ship missile. The functional capabilities and production hardware embedded in the missile are identical to the standard missile. However, the warhead of the missile is inert, unlike the live one in the standard missile. The missile system is expected to become operational by 2022.
In 2021, the US Army Contracting Command issued a USD 11.62 million FMS modification contract to Northrop Grumman to install its Integrated Air and Missile Defense Battle Command System (IBCS) in Poland with an estimated completion date of 31 December 2025.
In 2020, Boeing’s Huntsville operation was awarded a USD 249 million contract modification in support of the only operationally deployed missile defense capable of shielding the entire US against long-range ballistic missile attacks.
In 2019, Israel Aerospace Industries entered into an agreement with the Indian Navy to provide Naval Medium Range Surface-to-Air Missile systems worth USD 93 million.
Missile Type Covered:
• Missile Defense Systems
• Anti-aircraft Missiles
• Anti-ship Missiles
• Anti-tank Missiles
Range Covered:
• Long
• Medium
• Short
Threat Type Covered:
• Subsonic Missiles
• Supersonic Missiles
• Hypersonic Missiles
Domain Covered:
• Air
• Marine
• Ground
• Space
Technology Covered:
• Weapon System
• Countermeasure System
• Command & Control System
• Fire Control System
Application Covered:
• Defense
• Homeland Security
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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