Dublin, Oct. 27, 2022 (GLOBE NEWSWIRE) -- The "Cruise Missile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global cruise missile market size reached US$ 1.6 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 2.5 Billion by 2027, exhibiting a CAGR of 7.72% during 2021-2027.
Cruise missile refers to an unmanned, self-propelled and guided missile used for delivering targeted warheads with enhanced precision. It can self-navigate, fly on a non-ballistic and low-altitude trajectory and travel at supersonic and hypersonic speeds.
Cruise missiles consist of a guidance, payload and aircraft propulsion system that is enclosed in an airframe and can be launched using land, sea and air-based platforms. They use various technologies, such as terrain mapping, global positioning systems (GPS), inertial guidance, motion sensors and gyroscopes to maintain a pre-programmed flight path.
The missiles are also programmed for surface-to-surface, surface-to-air, air-to-air, air-to-surface and subsea to surface launch modes. They use solid, liquid, hybrid, ramjet, turbojet and scramjet propulsion systems.
Cruise Missile Market Trends:
The rising incidence of cross-border agitations and terrorist activities across the globe is one of the key factors driving the growth of the market. Cruise missiles are crucial for enforcing defense strategies and countering terrorist threats and political and territorial issues.
Moreover, the integration of artificial intelligence (AI) technology in defense systems for enhanced situational awareness and target precision is providing a thrust to the market growth. Various technological advancements, such as the development of innovative hypersonic cruise missiles that can travel faster than the speed of sound, are acting as other growth-inducing factors.
These missiles are highly powerful and can be used for delivering long-range strategic nuclear strikes. Novel variants are also resistant to electronic countermeasures and are equipped with angular thrusters to reposition the missile horizontally and maneuver against airstrikes.
Other factors, including the rapid modernization of existing defense systems, along with the widespread adoption of 3D printed missile components and structures, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
- How has the global cruise missile market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global cruise missile market?
- What are the key regional markets?
- What is the breakup of the market based on the launch platform?
- What is the breakup of the market based on the speed?
- What is the breakup of the market based on the range?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global cruise missile market and who are the key players?
- What is the degree of competition in the industry?
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Aerojet Rocketdyne Inc.
- Avibras Industria Aeroespacial SA
- China Aerospace Science and Industry Corporation Limited
- Defence Research and Development Organisation
- Kongsberg Gruppen
- Lockheed Martin Corporation
- MBDA
- Raytheon Technologies Corporation
- Roketsan Roket Sanayii ve Ticaret AS
- The Boeing Company.
Key Market Segmentation:
Breakup by Launch Platform:
- Air
- Surface Combatants
- Land
- Submarine
Breakup by Speed:
- Subsonic
- Supersonic
- Hypersonic
Breakup by Range:
- Short-range Missiles
- Medium-range Missiles
- Long-range Missiles
Breakup by Application:
- Attack
- Defensive
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/mzz0ja
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