Global Missile Defense System Market 2023 By Manufacturers, Regions, Type And Application, Forecast To 2029

Market Overview:

Global Missile Defense System Market was valued at USD 23.72 billion in 2021 and is expected to reach USD 32.28 billion by the year 2028, at a CAGR of 4.5%.

Defence forces operate with missile defence systems, which are land- and sea-based technologies, to protect against a variety of missiles, including cruise and ballistic missiles. The rise in conflicts and warlike situations throughout the world has resulted in a major increase in the demand for missile defence systems. Systems for missile defence protect people and national assets against missile attacks. A nation is protected against incoming missiles such as intercontinental ballistic missiles (ICBMs) and other ballistic missiles by missile defence systems, a type of missile defence. The United States, Russia, India, France, Israel, Italy, the United Kingdom, and China have all developed missile defence systems.

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Market Dynamics:

Driver:

Global defence spending has been rising exponentially in recent years. The Stockholm International Peace Research Institute (SIPRI) estimates that global defence spending reached $1,981 billion in 2020, up 2.6 per cent from the previous year. In 2020, the global military budget accounted for around 2.4 per cent of the GDP. As a result, increased military expenditure throughout the world has sped up the development of efficient missile defence systems like the Terminal High Altitude Area Defence (THAAD) system in the United States, the Iron Dome system in Israel, and the S-400 system in Russia.

Opportunities:

Along with improvements in deep learning and artificial intelligence (AI), the fast growth in GPU hardware power has created new opportunities for using AI to perform very difficult tasks more quickly than with more conventional methods. Applications including tracking and classifying tracked objects, defence design, and dynamic planning and tasking are all doable with the Army's Integrated Air and Missile Defensive (IAMD) system. As a result, the market for missile defence systems is anticipated to grow over the anticipated period due to the rising usage of AI in these systems.

The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Market Segmentation

By Type
• Weapon System
• Command & Control System
• Fire Control System
• Countermeasure System

By Range
• Short
• Medium
• Long

By Domain
• Ground
• Marine
• Air
• Space

Regional Analysis of Missile Defense System Market
The North American region is expected to dominate the missile defense systems market during the forecast period. North America is the world's largest spender on defense. The number of advancements linked to missile and missile defense systems in North America is on the rise. Weapons and missile defense systems are budgeted at USD 13.6 billion in FY2020. In May 2019, the US Department of Defense proposed USD100 million for the FY2020 budget to develop three new missile systems that would violate the 1987 Intermediate-Range Nuclear Forces (INF) Treaty's range restrictions.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Key Players Covered in Missile Defense System Market
• The Boeing Company
• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• Northrop Grumman Corporation
• United Technologies
• BAE Systems plc
• General Dynamics Corporation
• Leonardo Spa
• MBDA
• Rheinmetall AG
• Thales Group and other major players.

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Key Industry Developments In Missile Defense System Market
• In November 2021, The Missile Defense Agency (MDA) has chosen Raytheon Missiles & Defense, a Raytheon Technologies subsidiary, as one of the businesses to build and test the first interceptor particularly intended to resist hypersonic threats. Glide Phase Interceptor (GPI) is a revolutionary weapon that will counter a new generation of hypersonic missiles weapons that move faster than the speed of sound and maneuver quickly in flight.
• In September 2020, the Boeing Company has joined hand with General Atomics Electromagnetic Systems (GA-EMS) and Aerojet Rocketdyne in its bid to establish the Next Generation Interceptor (NGI) for the U.S. Missile Defense Agency (MDA). The NGI is a major element of the MDA's missile defense system, which is developed to grab and break up incoming intercontinental ballistic missiles.

Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures and Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures and Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?

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