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Missiles and Missile Defense Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2031)

  • ID: 4771701
  • Report
  • June 2022
  • Region: Global
  • 120 Pages
  • Mordor Intelligence

FEATURED COMPANIES

  • ASELSAN AS
  • BAE Systems PLC
  • Kongsberg Gruppen ASA
  • MBDA Inc.
  • Rheinmetall AG
  • Saab AB
The missiles and missile defense systems market is estimated to register a CAGR of over 8% during the forecast period (2022-2031).

The impact of COVID-19 on the missiles and missile defense systems market was negligible as the military spending and the investments of armed forces into the procurement of new generation missiles remained unaffected.

The increase in military spending of the countries due to the growing geopolitical tensions between various countries as well as growing concerns over terrorism is propelling their investments to the procurement of missile defense systems (and related missiles) across their land and water borders. This is expected to primarily boost the growth of the market during the forecast period.

Currently, government agencies and companies are working in collaboration to develop technologically advanced missiles and missile defense systems like hypersonic missiles. The integration of artificial intelligence in missile systems is anticipated to accelerate the growth of the market in the coming years.

Also, companies are working on the development of advanced surveillance systems that can identify the incoming stealth threats and intercept them, which is anticipated to boost the growth of the market.

Key Market Trends


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


Currently, the intercontinental missiles segment, which has an inherent range of over 5,500 km, dominates the market. 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. Military powerhouses, such as the United States, the United Kingdom, China, and India, have been focused on augmenting their military firepower and defensive capabilities. To ensure combat readiness of existing defense systems, several weapon modernization programs are currently underway to effectively upgrade the capabilities of the regional armed forces for effectively responding to security threats and accomplishing urgent, critical, and dangerous strategic missions. The range and warhead carrying capacity of the intercontinental missiles are driving the potential investments toward the development of advanced ballistic missiles. In this regard, in October 2021, the Indian Army completed the first user trial of the Intercontinental-range Ballistic Missile (ICBM) Agni-V, which has a range of over 5,000 km. The Agni-V ICBM was developed by Bharat Dynamics Limited and the Defence Research & Development Organisation (DRDO). Besides the development of new weaponry, several new procurement contracts are also underway. Such developments are bolstering the demand for missiles and associated missile defense systems and encouraging missile manufacturers to ramp up production capacity in anticipation of future orders.



North America Recorded the Largest Share by Revenue in 2021


The North American region currently dominates the market and is expected to continue its dominance over the market during the forecast period. This is primarily due to the highest military spending of the United States. The country is robustly investing in the procurement and development of new missile and missile defense systems. The FY2022 budget entails USD 20.3 billion and USD 10.9 billion for missiles and munitions and missile defense programs, respectively. Under the Missiles and Munitions budget, the country plans to acquire the Hellfire missiles, Joint Air-to-Surface Missile (JASSM), Joint Direct Attack Munition (JDAM), Long Range Anti-Ship Missile (LRASM), and Standard Missile (SM)-6, whereas under the Missile Defense programs, the country will procure additional Standard Missile 3 Block IB and IIA missiles, and the Terminal High Altitude Area Defense (THAAD) interceptors. The government is also investing in the development of new missile systems. In this regard, in March 2021, the US Department of Defense awarded two research and development contracts to Lockheed Martin and Northrop Grumman for the Next Generation Interceptor (NGI). The maximum worth for the development of NGI is estimated to be USD 1.6 billion through FY2022. Similarly, the Canadian government is equipping its land, air, and sea platforms with advanced missile systems. For instance, in April 2021, Lockheed Martin Canada awarded a contract to MBDA to deliver and install a Sea Ceptor air defense weapon system on the new Canadian Surface Combatant (CSC) of the Royal Canadian Navy. Such ongoing developments may lead to the growth of the missiles and missile defense systems market in the region during the forecast period.



Competitive Landscape


The missiles and missile defense systems market is fragmented, with the presence of many global and regional players in the market. Some of the prominent players in the missiles and missile defense systems market are The Boeing Company, Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corporation, and MBDA Inc. The companies are increasing their presence in the market through long-term partnerships and contracts with government agencies and armed forces. For instance, in December 2021, Raytheon Missiles & Defense was awarded a contract worth USD 578 million to manufacture 54 SM-2 Block IIIAZ all up round upgrades for the United States and 215 Standard Missile-2 all-up rounds (SM-2 Block IIIA, IIIAZ, and IIIB variants) for seven partner nations (Chile, Denmark, Japan, the Netherlands, South Korea, Spain, and Taiwan). Furthermore, the companies that are continuously investing in the R&D of new missiles have been fostering the advancements in accuracy and efficiency of integrated weapon technologies and associated products and solutions of the missiles and missile defense systems. For instance, Rafael Advanced Defense Systems unveiled its new Sea Breaker missile, a maritime and land-based long-range missile, in July 2021. The fifth-generation weapon system is integrated with artificial intelligence and decision-making algorithms that will help the missile accurately attack the target in the range of up to 300 km. Such developments are anticipated to help the companies increase their share in the market.

Additional Benefits:

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


This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ASELSAN AS
  • BAE Systems PLC
  • Kongsberg Gruppen ASA
  • MBDA Inc.
  • Rheinmetall AG
  • Saab AB

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Size and Forecast, Global, 2018 - 2031
3.2 Market Share by Range, 2021
3.3 Market Share by Type, 2021
3.4 Market Share by Launch Type, 2021
3.5 Market Share by Geography, 2021
3.6 Structure of the Market and Key Participants
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2031)
5.1 Range
5.1.1 Short (Up to 1,000 kms)
5.1.2 Medium (Between 1,000 kms and 3,000 kms)
5.1.3 Intermediate (Between 3,000 kms and 5,500 kms)
5.1.4 Intercontinental (More than 5,500 kms)
5.2 Missile Type
5.2.1 Missile Defense Systems
5.2.2 Anti-aircraft Missiles
5.2.3 Anti-ship Missiles
5.2.4 Anti-tank Missiles
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 France
5.3.2.3 Germany
5.3.2.4 Russia
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Rest of Latin America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 United Arab Emirates
5.3.5.3 Egypt
5.3.5.4 Turkey
5.3.5.5 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Raytheon Technologies Corporation
6.2.2 The Boeing Company
6.2.3 Lockheed Martin Corporation
6.2.4 Northrop Grumman Corporation
6.2.5 MBDA Inc.
6.2.6 BAE Systems PLC
6.2.7 Tactical Missile Corporation
6.2.8 Israel Aerospace Industries Ltd
6.2.9 ASELSAN AS
6.2.10 Kongsberg Gruppen ASA
6.2.11 Saab AB
6.2.12 Rheinmetall AG
6.2.13 Roketsan Roket Sanayii ve Ticaret AS
6.2.14 Defense Research and Development Organization (DRDO)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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A selection of companies mentioned in this report includes:

  • Raytheon Technologies CorporationThe Boeing Company
    Lockheed Martin Corporation
    Northrop Grumman Corporation
    MBDA Inc.
    BAE Systems PLC
    Tactical Missile Corporation
    Israel Aerospace Industries Ltd
    ASELSAN AS
    Kongsberg Gruppen ASA
    Saab AB
    Rheinmetall AG
    Roketsan Roket Sanayii ve Ticaret AS
    Defense Research and Development Organization (DRDO)
Note: Product cover images may vary from those shown

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