Global Missiles Market to Reach US$207.4 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Missiles estimated at US$160.8 Billion in the year 2020, is projected to reach a revised size of US$207.4 Billion by 2027, growing at a CAGR of 3.7% over the analysis period 2020-2027.
Surface-to-Surface, one of the segments analyzed in the report, is projected to grow at a 3.5% CAGR to reach US$51.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Air Defense segment is readjusted to a revised 3.8% CAGR for the next 7-year period. This segment currently accounts for a 18.9% share of the global Missiles market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 6.6% CAGR for the Period of 2020-2027
The Missiles market in the U.S. is estimated at US$43.4 Billion in the year 2020. The country currently accounts for a 26.99% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$43.5 Billion in the year 2027 trailing a CAGR of 6.6% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.2% and 2.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.9% CAGR while Rest of European market (as defined in the study) will reach US$43.5 Billion by the year 2027.
Air-to-Surface Segment Corners a 16% Share in 2020
In the global Air-to-Surface segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$19.4 Billion in the year 2020 will reach a projected size of US$25.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$29.3 Billion by the year 2027, while Latin America will expand at a 5.4% CAGR through the analysis period.
The 197-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- BAE Systems PLC
- Israel Aerospace Industries Ltd.
- Leonardo S.p.A.
- Lockheed Martin Corporation
- MBDA Missile Systems
- RUAG AG
- Safran SA
- Thales Group
- The Boeing Company
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 and a Looming Global Recession
- Aerospace & Defense, The World’s Largest & Most Powerful Industry, Undergoes Transformation
- Recent Market Activity
- Major Technologies in Air-to-Air Missiles Segment
- Advanced Propulsion Technology
- Advanced Guidance/Seeker Technology
- Other Missile Technologies
- Global Competitor Market Shares
- Missiles Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Decisive Role Played by Radars in Smart Warfare Expands the Technology’s Use in a Broad Range of Military Operations
- Radars Grow in Popularity in Missile Guidance & UAV Navigation
- Missile Defense Continues to Play a Pivotal Role in 21st Century Combat Force
- Rising Prices of Combat Aircraft Shifts Focus on Innovations in Air-to-Air Missile Systems
- European Combat Aircraft Deploy Indigenous Air-to-Air Missile Systems to Curtail Dependence on US Defense Technology
- Longer Range and Innovative Seeker Software Enable Air-to-Surface Missiles to Achieve Pinpoint Accuracy in Dense Air Defense Environments
- Longer Range and Precision Strike Surface-to-Surface Missiles Enable Combat Forces to Engage Targets over a Vast Geographical Area
- New Generation Anti-Ship Missiles Use Stealth, Speed and Sea-Skimming Capability to Evade Detection and Interception by Enemy Radar
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 38
For more information about this report visit https://www.researchandmarkets.com/r/swxmjy