Missiles and Missile Defense Systems Market - Growth, Trends, and Forecast (2019 - 2024)

The Missiles and Missile Defense Systems Market is segmented by Range (Short-range Missiles, Medium-range Missiles, Intermediate Range Missiles, and Intercontinental Missiles), Missile Type (Missile Defense Systems, Surface-to-Surface Missiles, Surface-to-Air Missiles, Air-to-Surface Missiles, Air-to-Air Missiles, Anti-ship Missiles, and Anti-tank Missiles), and Geography.

Market Snapshot

Missiles and Missile Defense Systems Market over
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The missiles and missile defense systems market is estimated to register a CAGR of over 10% during the forecast period (2019-2024).

  • The growing conflicts between various countries and the increasing number of investments on missile defense systems being made by various countries worldwide are the major factors driving the market.
  • Technological advancements, in terms of missiles and missile defense systems, may lead to various countries procuring advanced missile defense systems, which may propel the growth in the near future. 
  • Additionally, fight against terrorism is also expected to support the growth of the missiles and missile defense systems, worldwide.

Scope of the Report

Missile defense system refers to a system, which provides defense against any missile type (conventional or nuclear). Additionally, any mechanism which can help to detect and then destroy a missile before it causes damage is known as a missile defense system. The report covers an analysis of missiles/missile defense systems by range and missile type.

Range
Short Range Missiles
Medium Range Missiles
Intermediate Range Missiles
Intercontinental Missiles
Missile Type
Missile Defense Systems
Surface-to-Surface Missiles
Surface-to-Air Missiles
Air-to-Surface Missiles
Air-to-Air Missiles
Anti-Ship Missiles
Anti-Tank Missiles
Geography
North America
United States
Canada
Latin America
Mexico
Brazil
Rest of Latin America
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Europe
United Kingdom
Germany
France
Rest of Europe
Middle East & Africa
United Arab Emirates
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Intercontinental Missiles is Anticipated to Register the Highest CAGR During the Forecast Period

Currently, intercontinental missiles has the highest share out of all the segments. Intercontinental missiles are those missiles which have a minimum range of 5,500 km. Most advanced intercontinental missiles have a range exceeding 12,000 km. Intercontinental missiles can be launched from submarines and can be monitored and controlled using GPS guidance systems. There has been a significant increase in recent times, in terms of the development of intercontinental missiles by various countries. The BrahMos Project, which has been completed by India and Russia together, is one such example. Intercontinental ballistic missiles offer many advantages, due to their big range and capabilities in carrying the nuclear warheads. The growth in defense expenditure of the countries across the world and the advantages of the intercontinental nuclear missiles compared to other types are expected to be the key factors in attracting more investments toward the development of intercontinental missiles. Thus, upcoming developments may increase the focus on this segment, and this may be the reason for its expected high CAGR.

Missile and Missile Defense Systems Market segment

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North America is Expected to Continue to Lead the Missiles and Missile Defense Systems Market

In the missiles and missile defense systems market, North America is generating the highest revenue at present. The region of North America is the biggest defense spender, globally. North America is witnessing an increase in the number of developments related to missile and missile defense systems. Recently, the United States successfully carried out testing of a key missile defense system, which has the capability to knock down incoming intermediate-range missiles. The Aegis Ashore system, which was used in the latest test carried out, was fitted with a Standard Missile 3 Block IIA (SM-3 IIA) interceptor being developed in a joint venture between Raytheon Co and Japan’s Mitsubishi Heavy Industries Ltd. The successful test has also led to the US military exploring various options of adding another layer of missile defenses to the already placed defense systems for intercepting incoming missiles. In a new turn of events, the Trump administration have also announced that they are in plans to launch a new strategy for aggressive space-based missile defense system, in order to protect the country from existing threats from countries, such as North Korea and Iran, as well as counter advanced cruise missiles, which are being currently being developed by China and Russia. Thus, various ongoing developments may lead to the growth of the missiles and missile defense systems market in the North American region in the near future.

Missiles and Missile Defense Systems Market geography 1

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Competitive Landscape

Various players, such as Raytheon Company, The Boeing Company, Lockheed Martin Corporation, Israel Aerospace Industries, and Northrop Grumman Corporation, among others, are occupying significant market share in the missiles and missile defense systems market. Various initiatives, as well as product innovations, have led the companies to strengthen their presence in the market. In 2018, Israel Aerospace Industries (IAI) reported that they have been awarded an additional USD 777 million contracts to supply LRSAM Air & Missile Defense Systems for seven ships belonging to the Indian Navy.

Major Players

  1. Raytheon Company
  2. The Boeing Company
  3. Lockheed Martin Corporation
  4. Israel Aerospace Industries
  5. Northrop Grumman Corporation

* Complete list of players covered available in the table of contents below

Missile and Missile Defense Systems Market complan

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Range

      1. 5.1.1 Short Range Missiles

      2. 5.1.2 Medium Range Missiles

      3. 5.1.3 Intermediate Range Missiles

      4. 5.1.4 Intercontinental Missiles

    2. 5.2 Missile Type

      1. 5.2.1 Missile Defense Systems

      2. 5.2.2 Surface-to-Surface Missiles

      3. 5.2.3 Surface-to-Air Missiles

      4. 5.2.4 Air-to-Surface Missiles

      5. 5.2.5 Air-to-Air Missiles

      6. 5.2.6 Anti-Ship Missiles

      7. 5.2.7 Anti-Tank Missiles

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Latin America

        1. 5.3.2.1 Mexico

        2. 5.3.2.2 Brazil

        3. 5.3.2.3 Rest of Latin America

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Europe

        1. 5.3.4.1 United Kingdom

        2. 5.3.4.2 Germany

        3. 5.3.4.3 France

        4. 5.3.4.4 Rest of Europe

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Vendor Market Share

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Raytheon Company

      2. 6.4.2 The Boeing Company

      3. 6.4.3 Lockheed Martin Corporation

      4. 6.4.4 Northrop Grumman Corporation

      5. 6.4.5 MBDA Inc.

      6. 6.4.6 Frontier Electronic Systems Corp

      7. 6.4.7 Thales Group

      8. 6.4.8 Israel Aerospace Industries Ltd.

      9. 6.4.9 ASELSAN A.S

      10. 6.4.10 Kongsberg Gruppen AS

      11. 6.4.11 Saab AB

      12. 6.4.12 Rheinmetall AG*

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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