Newark, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The global missile defense system market is expected to grow from 27.04 billion in 2022 to USD 42.89 billion by 2032, at a CAGR of 4.72% during the forecast period 2022-2032. 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 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 the 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 the governments, who are now producing high-end missile defense systems that are strategically placed to intercept and destroy the incoming threats.
Request to Download Sample Research Report - https://www.thebrainyinsights.com/enquiry/sample-request/12765
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 27.04 Billion |
| Market Size in 2032 | USD 42.89 Billion |
| CAGR | 4.72% |
| No. of Pages in Report | 236 |
| Segments Covered | Range, Technology, Threat Type and Domain |
| Drivers | Rising security concerns |
| Opportunities | Increasing defense budget |
| Restraints | High capital cost |
Procure Complete Research Report - https://www.thebrainyinsights.com/report/missile-defense-system-market-12765
The medium-range segment dominated the market, with a market value of around 11.88 billion in 2021.
The range segment is divided into long-range, medium-range, and short-range. The medium-range segment dominated the market, with a market value of around 11.88 billion in 2021.
The weapons system segment is expected to grow at the fastest CAGR of 5.52% over the forecast period.
The technology segment is divided into countermeasure systems, fire control systems, command & control systems, & weapons systems. Over the forecast period, the weapons system segment is expected to grow at the fastest CAGR of 5.52%.
The supersonic missiles segment dominated the market, accounting for around 12.14 billion global revenue.
The threat type segment is divided into subsonic missiles, supersonic missiles, and hypersonic missiles. The supersonic missiles segment dominated the market, accounting for around 12.14 billion global revenue.
The ground segment dominated the market, with a market value of around 12.39 billion in 2021.
The domain segment is divided into ground, marine, and air. The ground segment dominated the market, with a market value of around 12.39 billion in 2021.
Interested to Procure the Research Report? Inquire Before Buying - https://www.thebrainyinsights.com/enquiry/buying-inquiry/12765
Regional Segmentation Analysis:
The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The North American region is expected to be the largest market during the forecast period. The missile defense system market in North America has been expanding rapidly. The United States of America dominates the missile defense system market in the North American region. The federal US government's increasing government spending on missile defense systems to counter the rising threat of Iran, North Korea, Russia, and China developing intercontinental nuclear-capable ballistic missiles with the ability to strike the US and its allies will significantly contribute to the North American dominance in the missile defense system market.
Competitive Analysis:
The market's major players include General Dynamics Corporation, BAE Systems, Lockheed Martin Corporation, Leonardo Spa, Northrop Grumman Corporation, MBDA Missiles Systems, The Boeing Company, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, and Thales Group, among others.
Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/speak-to-analyst/12765
About the report:
The global pharmaceutical packaging market is analysed on the basis of value (USD billion). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
