Missile Seekers Global Market Opportunities and Strategies to 2034

This report describes and explains the missile seekers market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global missile seekers market reached a value of nearly $5.23 billion in 2024, having grown at a compound annual growth rate (CAGR) of 5.72% since 2019. The market is expected to grow from $5.23 billion in 2024 to $7.41 billion in 2029 at a rate of 7.23%. The market is then expected to grow at a CAGR of 6.61% from 2029 and reach $10.21 billion in 2034.

Growth in the historic period resulted from the increasing terrorism, rise of fighter jets and UAVs, increasing cross border disputes and rise in military modernization programs. Factors that negatively affected growth in the historic period were high failure rate and high system integration cost.

Going forward, the growing number of missile test launches and trials, increased defense budgets, growth of electronic warfare systems and government incentives will drive the growth. Factor that could hinder the growth of the missile seekers market in the future include cybersecurity risks, rising component costs and impact of trade war and tariff.

North America was the largest region in the missile seekers market, accounting for 39.60% or $2.07 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the missile seekers market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 8.63% and 8.37% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 8.22% and 8.10% respectively.

The global missile seekers markets is fairly concentrated, with large players operating in the market. The top 10 competitors in the market made up 36.08% of the total market in 2024. The Lockheed Martin Corporation was the largest competitor with 6.06% share of the market, followed by Raytheon Technologies Corporation with 5.11%, BAE Systems plc with 4.64%, Northrop Grumman Corporation with 4.09%, The Boeing Company with 3.43%, Thales Group with 3.06%, Leonardo S.p.A. with 2.82%, MBDA Inc. with 2.55%, Rafael Advanced Defense Systems Ltd. with 2.30% and Saab AB with 2.01%.

The missile seekers market is segmented by missile type into cruise missile, ballistic missile, interceptor missile and conventional missile. The cruise missile market was the largest segment of the missile seekers market segmented by missile type, accounting for 33.04% or $1.72 billion of the total in 2024. Going forward, the interceptor missile segment is expected to be the fastest growing segment in the missile seekers market segmented by missile type, at a CAGR of 8.67% during 2024-2029.

The missile seekers market is segmented by technology into active radar, semi-active radar, passive radar, infrared, laser and multimode. The infrared market was the largest segment of the missile seekers market segmented by technology, accounting for 29.93% or $1.56 billion of the total in 2024. Going forward, the multimode segment is expected to be the fastest growing segment in the missile seekers market segmented by technology, at a CAGR of 9.70% during 2024-2029.

The missile seekers market is segmented by launch mode into surface‑to‑surface, surface‑to‑air, air‑to‑surface and air‑to‑air. The surface‑to‑surface market was the largest segment of the missile seekers market segmented by launch mode, accounting for 33.26% or $1.73 billion of the total in 2024. Going forward, the surface‑to‑air segment is expected to be the fastest growing segment in the missile seekers market segmented by launch mode, at a CAGR of 8.47% during 2024-2029.

The top opportunities in the missile seekers market segmented by missile type will arise in the cruise missile segment, which will gain $808.39 million of global annual sales by 2029. The top opportunities in the missile seekers market segmented by technology will arise in the infrared segment, which will gain $745.23 million of global annual sales by 2029. The top opportunities in the missile seekers market segmented by launch mode will arise in the surface-to-air segment, which will gain $760.59 million of global annual sales by 2029. The missile seekers market size will gain the most in the USA at $545.96 million.

Market-trend-based strategies for the missile seekers market include focus on adopting strategic investments such as expansion of factory to scale up production capacity, meet growing defense demand and accelerate the development of next-generation seeker technologies, focus on introducing self-reliance solutions, such as indigenous RF seeker to reduce dependency on foreign technologies and strengthen domestic defense capabilities and focus on adopting strategic investments, such as multi-mode seeker development contract to enhance targeting precision, improve versatility across platforms and strengthen their competitive position in next-generation missile guidance systems.

Player-adopted strategies in the missile seekers market include focus on strengthening business operations through new launches, focus on strengthening business operations through strategic partnerships and focus on expanding operational capabilities through securing new contracts.

To take advantage of the opportunities, the analyst recommends the missile seekers market companies to focus on scaling production capacity to meet defense demand, focus on advancing indigenous rf seeker development, focus on advancing multi-mode seeker capabilities, focus on interceptor missile seeker development, focus on multimode seeker development, expand in emerging markets, continue to focus on developed markets, focus on expanding global distribution through strategic defense channels, focus on tiered pricing aligned with capability and strategic value, focus on strengthening government-focused communication channels, focus on enhancing international defense collaboration visibility, focus on direct engagement with military end-users.

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