Ballistic Missile Market

Ballistic Missile Market

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Aamir

Author :

Aamir Ansari

Indranil

Fact-checked by :

Indranil Bose

Shreyas

Editor :

Shreyas Tandon

The global ballistic missile market size is anticipated to register a substantial CAGR during the forecast period, 2021–2028.The growth of the market is attributed to the increasing spending in the defense industry to improve the security.

Global Ballistic Missile Market Key Takeaways

Ballistic missile is a projected self-guided strategic weapon system which follows a trajectory to deliver a charge from its site of launch to a predetermined target. This can carry typical high explosive as well as biological, chemical, and nuclear weapons. Ballistic missile can be launched from ships, submarines, and aircraft in addition to land-based mobile platform and vaults. Armed ballistic missile has range more than 5600 km. Ballistic missile is directly launched into high layers of the earth atmosphere. Ballistic missile depends on gravity to reach the target.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising national security concerns and border threats are likely to boost the market growth.
  • Increasing development of nuclear ballistic missile by developed countries is expect to spur the growth of the market.
  • Continues requirement of upgradation in the missile technology is estimated to contribute to the market growth.
  • High cost is one of the major challenges in procuring advanced missile technology. However, the technological innovations is estimated to positively influence the market growth.

Scope of the Report

The report on the global ballistic missile market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Ballistic Missile Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Ranges (Intermediate-range, Medium-range, Short-range, and Intercontinental), Launch Modes (Air-to-surface, Surface-to-air, Subsea-to-air, Surface-to-surface, and Air-to-air)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

DRDO; Northrop Grumman Corporation; Lockheed Martin Corporation; General Dynamic Corporation; and BAE Systems PLC

Ballistic Missile Market Segment Insights

Intercontinental segment to expand at a robust CAGR

In terms of ranges, the market is segregated into intermediate-range, medium-range, short-range, and intercontinental. The intercontinental segment is estimated to grow at a rapid pace in the projected timeline. This is due to advantages such as high target accuracy despite of long range as compared to other range such as medium-range and small-range missiles. Countries are now looking develop to advanced intercontinental ballistic missiles. In February 2019, the government agency in Russia tested topol MR intercontinental ballistic missile. It also tested Sarmat, an intercontinental ballistic missile, in March 2018. India test-fired the long-range intercontinental ballistic missile named Agni-V, from the eastern coastal of Odisha state. This intensified testing and development of new intercontinental ballistic missiles are contributing to the growth of the market.

Global Ballistic Missile Market Ranges

Surface-to-surface segment to hold a significant market share

On the basis of launch modes, the market is categorized as air-to-surface, surface-to-air, subsea-to-air, surface-to-surface, and air-to-air. The surface-to-surface segment is anticipated to grow at a steady rate during the forecast period due to rising demand for surface-to-surface in close combat scenario, increasing long range ballistic missile arsenal, growing development of cruise missiles, and high use of surface precision strike.

Asia Pacific is anticipated to constitute a key market share

Based on regions, the market is segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a significant share of the market during the forecast period. Ballistic missile development and key missile procurement in North Korea is likely to drive the market of the region. Moreover, the government of India launched the ballistic missile defense program to deploy and develop multi-layered missile defense system to protect country from ballistic missile threat from Pakistan and China.

The market of North America is anticipated to grow at a healthy rate owing to increasing investment of countries such as the US and Canada in the defense industry. On the other hand, Middle East & Africa is expected to account for a considerable market share for the above-mentioned factors.

Global Ballistic Missile Market Regions

Segments

The global ballistic missile market is segmented on the basis of:

Ranges

  • Intermediate-range
  • Medium-range
  • Short-range
  • Intercontinental

Launch Modes

  • Air-to-surface
  • Surface-to-air
  • Subsea-to-air
  • Surface-to-surface
  • Air-to-air

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • DRDO
  • Northrop Grumman Corporation
  • Lockheed Martin Corporation
  • General Dynamic Corporation
  • BAE Systems PLC

Competitive Landscape

The key players competing in the ballistic missile market are DRDO; Northrop Grumman Corporation; Lockheed Martin Corporation; General Dynamic Corporation; and BAE Systems PLC

Companies are engaging in partnerships with government state bodies to expand their market share.

Global Ballistic Missile Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ballistic Missile Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Ballistic Missile Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Ballistic Missile Market - Supply Chain
  4.5. Global Ballistic Missile Market Forecast
     4.5.1. Ballistic Missile Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Ballistic Missile Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Ballistic Missile Market Absolute $ Opportunity
5. Global Ballistic Missile Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Ballistic Missile Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Ballistic Missile Demand Share Forecast, 2019-2026
6. North America Ballistic Missile Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Ballistic Missile Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Ballistic Missile Demand Share Forecast, 2019-2026
7. Latin America Ballistic Missile Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Ballistic Missile Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Ballistic Missile Demand Share Forecast, 2019-2026
8. Europe Ballistic Missile Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Ballistic Missile Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Ballistic Missile Demand Share Forecast, 2019-2026
9. Asia Pacific Ballistic Missile Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Ballistic Missile Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Ballistic Missile Demand Share Forecast, 2019-2026
10. Middle East & Africa Ballistic Missile Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Ballistic Missile Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Ballistic Missile Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Ballistic Missile Market: Market Share Analysis
  11.2. Ballistic Missile Distributors and Customers
  11.3. Ballistic Missile Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. DRDO Northrop Grumman Corporation Lockheed Martin Corporation General Dynamic Corporation BAE Systems PLC

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