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Missile Interceptor Market - Trends, Drivers, Dynamics, Strategic Analysis and Challenges by 2023

Aug 8th 2019 at 11:26 PM

Market Highlights:

The missile interceptor is a surface-to-air anti-missile that is designed to counter ballistic missiles launched in low altitude from any country. As the rise in the number of border security concerns, and changing nature of armed conflict, the countries are inclined towards enhancing their missile arsenal. The factors driving the growth of the missile interceptor market include increase in the number of cross-border threats and increasing military expenses. However, there are some shortcomings in the missile interceptor, such as high manufacturing and defense budget constraints. The market for missile interceptors estimated to witness 8% CAGR during the forecast period.

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On the basis of region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. In  Europe, the high adoption rate of missile interceptor  across the region such as Sweden and Romania had bolstered the market growth. In Asia Pacific, high deployment of  missiles interceptor owing to rising cross-border security threats will be expected to boost their presence in the market. Based on range, up to 125 kms are widely used and expected to comprise the largest share of the market due to the high demand for missiles, such as Iron Dome, SM-3, and PAC-3. Moreover, Raytheon Company signed an agreement with Rafael Advanced Defense Systems Ltd to supply Iron Dome Interceptor  to protect Israel’s population from rockets.

The scope of the Report:

This study provides an overview of the Missile Interceptor Market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Missile Interceptor market by its launch mode, type, range, and region.

Segmentation:

By Launch Mode

  • Surface to Air
  • Surface to Surface

By Type

  • Endoatmospheric
  • Exoatmospheric

By Range

  • Upto 125 kms
  • 125 to 200 Kms
  • Above 200 kms

By Region

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

Key Players

The key players in 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), Northrop Grumman Corporation (U.S.).

Regional Analysis:

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Europe is expected to grow at the fastest pace during the forecast period, due to high adoption of interceptor missiles across the region, such as Sweden and Romania. For instance, Lockheed Martin signed an agreement with Romania to provide Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE) missiles and related support equipment to upgrade the defense system. Asia Pacific would follow Europe in the global market in terms of growth rate due to the high deployment of these missiles owing to rising cross-border threats. Thus, the missile interceptor market is estimated to witness rapid growth, at a CAGR of approximately 8%, from 2018 to 2023.

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