Missile Defense System Market by Technology (Fire Control System, Weapon System, Countermeasure System, and Command and Control System), Range (Short, Medium, and Long), Threat type, Domain (Ground, Air, Marine, and Space), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). Missile Défense System Market size is projected to reach a CAGR of 12.7% from 2023-2030.

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The growing demand to defend against missile threats posed by state and non-state actors, the increasing frequency of missile tests, and the proliferation of missile technology have made missile Defense a critical component of national Defense strategies around the world. Governments around the world are investing in missile Defense systems to enhance their national security along with encouraging leading companies to focus on developing advanced sensor technology, command and control systems, and interceptors. Further, geopolitical tensions continue to rise and cause international tensions & threats of conflicts between nations are constantly evolving in today’s world scenario which led to increased market growth of the Missile Defense system in the next coming years.

Competitive Landscape:

·        Bae Systems plc

·        General Dynamics Corporation

·        Leonardo Spa

·        Lockheed Martin Corporation

·        MBDA

·        Northrop Grumman Corporation

·        Raytheon Technologies Corporation

·        Rheinmetall AG

·        Thales Group

·        The Boeing Company

Key Findings

·        The technology segment is further fragmented into Fire Control System, Weapon System, Countermeasure System, and Command & Control System. The weapon system segment is anticipated to dominate the market during the forecast period.

·        The range segment is further fragmented into Short, Medium, and Long. The short-range segment is expected to dominate the market during the forecast period.

·        The threat type segment is further segmented into Subsonic Missiles, Supersonic Missiles, and Hypersonic Missiles. The hypersonic missile segment is anticipated to lead the market and has the highest CAGR during the forecast period.

·        The domain segment is further fragmented into Ground, Air, Marine, and Space. The ground domain segment is anticipated to dominate the market during the forecast period. The need for advanced, multi-domain integration capable missile defense systems across the globe is one of the major factors driving the growth of the domain segment of the missile defense system market.

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The increasing defense budget to modernize the army, navy, and air force will drive the growth and development of the missile defense system market. The changing geopolitical dynamics, which highlight the critical nature of having robust surveillance and defensive infrastructure and systems to protect countries from untoward aggression, will increase investments in developing new army, naval, and air missile defense systems. Collaborative efforts between governments and private market players will also provide lucrative opportunities for the growth of the missile defense system market.

The growing trend of defense indigenization will propel the growth of the missile defense system market. The rise of extremist groups and organizations leading to cross-border terrorism, targeted attacks, and killings have pressured governments to improve their security measures to protect national interests, defense assets, civilian infrastructure, and the lives of their citizens. Integrating advanced weaponry to combat enemy actions has garnered the attention of governments, who are now producing high-end missile defense systems that are strategically placed to intercept and destroy incoming threats.

North America to Dominate the Market

·        North America is projected to be the largest regional share of the missile Defense system market during the forecast period.

·        Major companies such as Northrop Grumman Corporation, Lockheed Martin, Boeing, Raytheon Technologies, and General Dynamics Corporation are based in the US. These players continuously invest in the R&D of new and advanced technology used in the missile Defense system.

Recent Developments

In 2021, the US Army Contracting Command issued a USD 11.62 million FMS modification contract to Northrop Grumman to install its Integrated Air and Missile Defense Battle Command System (IBCS) in Poland with an estimated completion date of 31 December 2025.

In 2020, Boeing’s Huntsville operation was awarded a USD 249 million contract modification in support of the only operationally deployed missile defense capable of shielding the entire US against long-range ballistic missile attacks.

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In addition to the market data for Missile Défense System Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.

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