SELBYVILLE, Del. - February 18, 2020 - (Newswire.com)
According to the latest report “Interceptor Missile Market by Surface (Surface to Air, Water to Air), Component (Infrared, Global Positioning System (GPS), Inertial Navigation System (INS), Radar Homing, Semi-Active Lasers, Anti-Radiation), Range (Short, Medium, Long), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of interceptor missiles will cross $8 billion by 2026.
The interceptor missile market growth can be attributed to increasing defense expenditure and a shift in investment trends of the defense budget. For instance, in 2018, the global defense expenditure was USD 1,822.0 billion, which was 2.6% more compared to previous years. The U.S., China, Saudi Arabia, and France contributed over 50% of the market share. An aging air defense system unable to mitigate future aerial threats will pose the demand of upgrading and modifying existing interceptor missiles system, positively impacting the market demand.
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The surface to air segment in the market will portray over 5% growth through 2026. The capabilities of the interceptor missiles system to integrate with other defense platforms and communication systems increase its scope in land and naval applications. The land-based interceptor missile system demonstrates enhanced operational capabilities as their abilities to integrate with various C4ISR systems. This allows surface to air missiles to dominate over other segments.
The long-range interceptor missile market will demonstrate the highest growth potential, growing at around 6% till 2026. In past years, government and defense organizations across the globe significantly invested in short-range interceptor missiles but the shift in political insurgencies will promote long-range interceptor missiles. Currently, political insurgencies between the U.S., Russia, China, India, Saudi Arabia, and Iran require long-range interceptor missiles, demonstrating their capabilities to intercept missiles at mid-course.
The North America interceptor missile market is poised to expand at over 6% CAGR during the forecast period due to the presence of major industry players and defense manufacturers in the region. Significant defense allocation and the need to upgrade existing missiles will also accelerate the market revenue. Various industry players are collaborating with Asia Pacific-based companies to gain manufacturing benefits. Major countries in Asia Pacific including China and India are supporting FDI for manufacturing and providing significant subsidiaries.
Companies in the market are focusing on developing new technologies and initiating long-term collaborations with various government and defense organizations to secure their market share. Transactions in the defense industry happen through long-term contracts and agreements, significantly promoting market competitiveness. The major defense contracts are mostly multi-year & multi-layered involving various government and political parties. This type of market nature has a potential to impact growth trends depending on the political agendas of different countries.
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Some major findings of the interceptor missile market report include:
- The changing trends of defense budget allocation, where significant importance is given to acquisition and upgrades of arms and ammunition along with investments in military vehicles, supporting market growth.
- The requirement to replace and upgrade existing missiles defense systems to intercept threats of future will provide a positive outlook.
- Design modification and technological advancements in defense vehicles and missile carriers pose the requirement for upgraded interceptor missiles that can be integrated with modern systems.
- Political insurgencies between major nations will limit the scope of operations of various industry players.
- Collaborations between various industry participants backed up by government bodies for the development of new interceptor missiles are one of the major market trends.
- Major industry players are engaged in developing interceptor missiles with capabilities to hit multiple targets at once and can be maneuvered at Mach speed and above.
- Major industry players within the interceptor missile market are Aerojet Rocketdyne, Almaz-Antey, Kongsberg, L3Harris, Leonardo S.p.A., Lockheed Martin, MBDA, Northrop Grumman Corporation, Raytheon Company, Rheinmetall AG, Saab AB, Thales Group, and The Boeing Co.
Table of Contents (ToC) of the report:
Chapter 3. Interceptor Missile Market Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2015 – 2026
3.4. Market evolution
3.5. Industry ecosystem analysis
3.6. Technology & innovation landscape
3.7. Regulatory landscape
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.2. Industry pitfalls & challenges
3.9. Growth potential analysis, 2019
3.10. Porter’s analysis
3.11. PESTEL analysis
Chapter 4. Competitive Landscape
4.1. Introduction
4.2. Company market share, 2019
4.3. Competitive market analysis, 2019
4.3.1. Aerojet Rocketdyne
4.3.2. Elbit Systems Ltd.
4.3.3. General Dynamics Corporation
4.3.4. Leonardo S.p.A.
4.3.5. Lockheed Martin Corporation
4.3.6. MBDA
4.3.7. Northrop Grumman Corporation
4.3.8. Raytheon Company
4.3.9. Boeing
4.3.10. BAE Systems
Browse Complete Table of Contents (ToC) @
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Original Source: Interceptor Missile Market Value to Cross USD 8 Bn by 2026: Global Market Insights, Inc.
