Portland, OR, Jan. 17, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global missile guidance system market generated $0.82 billion in 2021, and is estimated to reach $1.3 billion by 2031, witnessing a CAGR of 4.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Download Free Sample Report - https://www.alliedmarketresearch.com/request-sample/6569
Missile Guidance System Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.82 Billion |
| Market Size in 2031 | $1.3 Billion |
| CAGR | 4.7% |
| No. of Pages in Report | 254 |
| Segments Covered | Launch Platform, Type, End User, and Region |
| Drivers | Increase in government spending on improvement of current national security systems |
| Increase in developments related to hypersonic missiles | |
| Penetration of precision-guided munition | |
| Opportunities | Growing preference for Automatic Target Recognition (ATR) Missile Systems |
| Technological advancements in guidance systems | |
| Restraints | High cost associated with missile technology and fluctuation in raw material supply cost |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a notable impact on the missile guidance system market. Lockdowns imposed by many countries in response to the rapid spread of the COVID-19 virus impacted activities in the defense, aviation, electronics, and other industries.
- Governments worldwide put emphasis on the healthcare industry to prevent the spread of the COVID-19 virus, which harmed the defense industry's performance. Growing trade restrictions, revenue crisis, and raw material scarcity were the concerns impacting the rocket and missile manufacturing enterprises. Many organizations postponed their missile-related projects and programs.
- However, the global missile guidance systems market is likely to witness growth in future due to growing investments in the defense sector regarding the installation of advanced missile systems across several countries.
The report offers a detailed segmentation of the global missile guidance system market based on launch platform, type, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on launch platform, the surface-to-air segment held the largest share in 2021, accounting for more than one-fourth of the global missile guidance system market, and would rule the roost through 2031. The air-to-surface segment, however, is estimated to witness the fastest CAGR of 5.7% during the forecast period. The report also discusses the air-to-air, anti-ship, and anti-tank segments.
Interested to Procure the Research Report? Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/6569
Based on type, the beam rider guidance system segment held the largest share in 2021, capturing nearly two-fifths of the global missile guidance system market, and would lead the trail through 2031. The command guidance system segment, however, is estimated to witness the fastest CAGR of 5.6% during the forecast period. The report also discusses the homing guidance system and inertial guidance system segments.
In terms of end user, the ground vehicles segment captured the largest market share of over two-fifths in 2021 and is expected to lead the trail during the forecast period. The UAVs segment, on the other hand, is likely to achieve the fastest CAGR of 9.8% through 2031. The report also studies the combat aircrafts, ships, and submarines segments.
Based on region, the market in North America was the largest in 2021, accounting for two-fifths of the global missile guidance system market, and is likely to maintain its leadership status during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 5.7% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global missile guidance system market analyzed in the research include Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, The Boeing Company, DRDO, Thales Group, General Dynamics Corporation, Leonardo S.P.A., BAE Systems plc, Elbit Systems Ltd., and Safran S.A.
The report analyzes these key players of the global missile guidance system market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Buy Complete Report Now - https://bit.ly/3w9Bnqb
Similar Reports We Have on Military Industry:
Anti-Tank Guided Missile System Market Research Report 2023-2035
Anti-Tank Missile System Market Research Report 2023-2035
Air-to-air Refueling Market Research Report 2023-2035
Unmanned Air to Air Refueling Market Research Report 2023-2035
Air-to-Air Refueling Market Research Report 2023-2035
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
