(MENAFN– EIN Presswire) The global missile defense system market was valued at $26.16 billion in 2020 and is expected to reach $40.04 billion by 2030, growing at a rate of 4.4% annually.
Missile Defense System Market Insights – According to a report by Allied Market Research, significant growth is anticipated in the 201-400 Km range segment during the forecast period. The report details the market’s growth by range (less than 100Km, 101-200Km, 201-400Km), threat type (subsonic, supersonic, hypersonic), and domain (ground and marine) from 2021-2030.
Market Growth Factors
The missile defense market is driven by rising global conflicts and increasing defense budgets. High costs of missile defense systems may hinder growth, but emerging developments in hypersonic missile deployment and AI innovation in military operations present new opportunities.
Growth by Range
The 201-400 Km segment is projected to have the highest growth rate at 5.0%. The 101-200 Km segment held the largest market share in 2020, catering to a demand for intercepting missiles within 200 km.
Market by Domain
Ground-based systems dominated the market, making up about 90% in 2020. The marine sector is expected to grow the fastest at 5.0% due to rising demand for defense against missile threats.
Regional Insights
North America led the market in 2020 with over 40% share, influenced by a high defense budget and technology R&D. Asia-Pacific is forecasted to grow the fastest at 5.2%, driven by increased missile defense adoption and rising conflicts in developing nations.
Key Players
- BAE Systems plc
- Leonardo Spa
- General Dynamics Corporation
- MBDA
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- Northrop Grumman Corporation
- Thales Group
- Rheinmetall AG
- The Boeing Company
Key Study Findings
- High growth anticipated for the 201-400 Km range.
- Significant growth in hypersonic missile technology is expected.
- The marine segment is set to lead future developments.
- Asia-Pacific is projected to have the highest growth rate.
Stakeholder Benefits
This study provides a comprehensive analysis for stakeholders, identifying market trends and investment opportunities, while also analyzing current challenges and drivers of growth.
For more information or to request data, please contact us.
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