Missile Interceptor System Market Overview:
The missile interceptor market is having a smooth run due to its prolific use in the defense sector across the globe. Missile interceptors are used to counter missiles that are of intermediate-range and sometimes intercontinental ballistic missiles. With growing security threats, border concerns, advancing warfare, and strategies getting implemented to enrich the arsenal, this missile interceptor market can only witness its horizon getting wider than before.
The global missile interceptor market is eyeing for an outstanding 8% CAGR during the forecast period (2018-2023), declares Market Research Future (MRFR). The report further includes a segmental analysis along with factors that can impact the market growth in the coming years.
Countries such as the U.S. and Russia are making heavy investments to better their missile interceptors by upping their armory with the new propulsion system and warheads. For this, a significant amount of the budget is getting spent on developing new technologies. At the same time, private players, encouraged by government policies, are also joining the bandwagon which gives the market significant hope.
On the downside, the missile interceptor system market is getting bogged down by the heavy cost. Manufacturing of missile interceptors requires a lot of research and significant effort which spurs the price and, in the process, demotivating possible buyers. In addition, constant upgradation in the field is affecting the market as buyers always prefer to go for the latest model.
Missile Interceptor System Market Segmentation:
The global missile interceptor system market can be segmented by launch mode, type, and range.
Based on the launch mode, the missile interceptor market is segmented into surface to air, and surface to surface.
Type-wise, the missile interceptor market can be segmented into endoatmospheric and exoatmospheric.
Range-based segmentation of the missile interceptor market includes up to 125km, 125 to 200km, and above 200km.
Missile Interceptor System Market Regional Analysis:
Region-specific analysis of the global missile interceptor market spans across North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
Europe is expecting the fastest pace during the forecast period, due to the high adoption of interceptor missiles across the region. Sweden and Romania are spending much of their budget in bolstering their defenses which, resultantly, spurs the missile interceptor market growth. Lockheed Martin’s deal with Romania to provide Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE) missiles can be considered exemplary in this case.
The APAC market is following the lead as the regional market is getting triggered by an increased number of cross-border terrorism. India, China, and other countries are some of the major contributors to the regional market. In addition, for the market titans, the APAC region has great prospects which is why they are finding buyers here. North America makes a significant contribution as well. The U.S. in the region spends substantial amount every year for their defense budget on which the regional market thrives. In addition, major market players are based out of this region which impacts the market scenario significantly.
Missile Interceptor System Market Competitive Insights:
Prominent players in the missile interceptor market are Lockheed Martin Corporation (U.S.), Boeing (U.S.), Raytheon Company (U.S.), Aerojet Rocketdyne (U.S.), Rafael Advanced Defense Systems Ltd (Israel), China Aerospace Science and Technology Corporation (China), Bharat Dynamics Limited (India), MBDA (France), Thales Group (France), and Northrop Grumman Corporation (U.S.). Merger, collaboration, product launch, acquisition, and others are methods which the market titans are using in a bid to stay ahead of the rest.
In October 2018, Lockheed Martin launched their latest missile interceptor, Terminal High Altitude Area Defense (THAAD). The missile interceptor is one-of-its-kind that can neutralize threat both from inside and outside atmosphere.
In February 2018, Boeing won a deal of USD 6.6 billion to upgrade missile defense system of the U.S. Missile Defense Agency. The agreement includes the building of a new Silo and 20 new ground-based interceptors.
Rafael Advanced Defense Systems Ltd inked a deal with Australia where they will provide Tamir counter-rocket, artillery and missile interceptor for short-range ground-based air defense, along with other artilleries.
Missile Interceptor system Market Research Report: By Launch Mode (Surface to Air and Surface to Surface), by Type (Endoatmospheric and Exoatmospheric), by Range (Up to 125 Kms, 125 to 200 Kms, and Above 200 Kms), and Region (North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America)—Forecast till 2025 @ https://www.marketresearchfuture.com/reports/missile-interceptor-market-6188