Dublin, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The "Anti-tank Missile System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global anti-tank missile system market size reached US$ 3.0 Billion in 2022. Looking forward, the market is set to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2023-2028.
The term "anti-tank missile system" refers to a class of guided missiles designed for the specific purpose of destroying tanks and other vehicles in close combat situations.
These highly specialized missiles are particularly effective against small to medium-sized main battle tanks (MBTs) and come in various sizes and configurations, including man-portable, tripod-mounted, and shoulder-launched variants.
Anti-tank missiles are typically remotely controlled and can be launched from the ground or aircraft platforms. They are equipped with various target guidance systems, which may include laser guidance, wire guidance, and digital imaging systems. What sets these missiles apart from traditional weapons is their ability to penetrate heavily fortified obstacles such as bunkers, walls, and armored vehicles.
The market for anti-tank missile systems is primarily being propelled by a concerning rise in armed conflicts, acts of violence, and instances of terrorism on a global scale. Additionally, the growing imperative for military modernization to bolster national security is a significant driver of market growth.
As nations invest in the development of next-generation weaponry systems, they are rapidly adopting advanced anti-tank missile systems to enhance the survivability of their frontline troops. Technological advancements, such as the incorporation of dual-mode seekers in missiles, are further fueling this market. These advanced missiles feature infrared and visible color channels for target acquisition in low thermal contrast environments, as well as fiber-optic data links for remote access to launch platforms.
Moreover, increased defense expenditures worldwide, coupled with extensive research and development (R&D) efforts aimed at upgrading existing weapon systems, are expected to drive the market's expansion.
Key Questions Answered in This Report:
- How has the global anti-tank missile system market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global anti-tank missile system market?
- What are the key regional markets?
- What is the breakup of the market based on the missile type?
- What is the breakup of the market based on the platform?
- What is the breakup of the market based on the end user?
- 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 anti-tank missile system market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $3 Billion |
| Forecasted Market Value (USD) by 2028 | $3.8 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being
- Denel Aerostructures (Pty) Ltd. (Denel SOC Ltd.)
- Elbit Systems Ltd.
- General Dynamics Corporation
- KBP Instrument Design Bureau (Rostec)
- Lockheed Martin Corporation
- MBDA
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- Saab AB
Key Market Segmentation:
Breakup by Missile Type:
- Man-Portable
- Vehicle-Mounted
Breakup by Platform:
- Airborne
- Ground-Based
Breakup by End User:
- Military
- Commercial
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/bix860
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