Competition Scenario In Global Missile And Missile Defense Systems Market
The Global Missiles and Missile Defense Systems Market are fragmented with ~260 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Missiles and Missile Defense Systems. Large global players represent the largest number ~50% of competitors, while country niche players constitute ~20% of competitors. Enhancing defenses against drones is a priority for the industry players related to the field. Government agencies and business entities are working together to develop technologically advanced missiles and missile defense systems, such as hypersonic missiles. Some of the major players in the market include MBDA Inc., BAE Systems., Boeing, General Electric, Lockheed Martin Corporation., Northrop Grumman, Kongsberg, Bharat Dynamics Limited, L3Harris Technologies, Inc., Israel Aerospace Industries Ltd, and others.
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What is the Expected Future Outlook for the Overall Global Missile and Missile Defense Systems market Across the globe?
The Global Missiles and Missile Defense Systems market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Missiles and Missile Defense Systems market is driven by government spending on missiles and missile defense systems across national land and water borders is being driven by rising military budgets in response to rising geopolitical tensions among various countries and fears about terrorism. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing Governments Support, the Global Missiles and Missile Defense Systems market is growing steadily. For instance, In July 2022, L3Harris Technologies has been awarded a contract to build the Tranche 1 Tracking Layer satellite programme for the Space Development Agency (SDA), which will serve as “eyes in the sky” detecting, identifying, and tracking advanced missile threats. The contract could be worth US$700 million in total.
Furthermore, In March 2019, the United States Army awarded a US$713 million contract to Northrop Grumman Corporation for the production of an Integrated Air and Missile Defense (IAMD) Battle Command System (IBCS) for the first phase of Poland’s WISA air and defense program.
The Global Missiles and Missile Defense Systems Market is anticipated to grow significantly during the projected period (2022-2028) owing to the geopolitical tensions between various nations and fears about terrorism rise, countries’ military budgets are increasing, which is driving government expenditures in missiles and missile defense across the land and water borders. During the forecast period, it is anticipated to primarily drive market growth. The creation of technologically sophisticated missiles and missile defense systems, such as hypersonic missiles, is currently a joint effort by government agencies and businesses. Future market growth is expected to be accelerated by the incorporation of artificial intelligence into missile systems. Though the market is competitive with ~260 participants, global players control the dominant share and regional players also hold a significant share.
Key Topics Covered in the Report
- Snapshot of Missiles and Missile Defense Systems Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Missiles and Missile Defense Systems Market
- Historic Growth of the Overall Missiles and Missile Defense Systems Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Missiles and Missile Defense Systems Market Industry
- Overview, Disorder Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Missiles and Missile Defense Systems Market
- Future Market Forecast and Growth Rates of the Total Missiles and Missile Defense Systems Market and by Segments
- Market Size of Segments with Historical CAGR and Future Forecasts
- Analysis of the Missiles and Missile Defense Systems Market in Global Regions
- Major Missiles and Missile Defense Systems Type/Supply and Consumption/Demand Hubs in the Region
- Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within the Region
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Notable Key Players Mentioned in the Report
- MBDA Inc.
- BAE Systems.
- General Electric
- Lockheed Martin Corporation
- Northrop Grumman
- Bharat Dynamics Limited
- L3Harris Technologies, Inc.
- Israel Aerospace Industries Ltd
Notable Emerging Companies Mentioned in the Report
- ESSI Security and Defence
- TechEagle Innovations
- Chara Technologies
- Evigway Technologies
Key Target Audience – Organizations and Entities Who Can be benefited by Subscribing This Report
- Missiles and Missile Defense Systems Manufacturers
- Missiles and Missile Defense Systems Product Assemblers
- Missiles and Missile Defense Systems Component suppliers
- Raw Material Suppliers for Missiles and Missile Defense Systems
- Potential Investors in Missiles and Missile Defense Systems Companies
- Value Added Resellers
- Industrial OEMs of Missiles and Missile Defense Systems
- Industrial Guidance Mechanism Solutions Providers
- Missiles and Missile Defense Systems Companies
- Missiles and Missile Defense Systems Industry Associations
- Missiles and Missile Defense Systems Research Groups
- Ministries of Arms and Defense
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below:-
Global Missiles Defense Systems Market