Anti-Ship Missile Defence System Market by Component (Radar, Missile Interceptor), Launch Platform (Air, Surface, Submarine), Application (Ballistic Missiles Defense, Conventional Missile Defense), and Region 2023-2028
The global anti-ship missile defence system market size reached US$ 12.23 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.91 Billion by 2028, exhibiting a growth rate (CAGR) of 5.32% during 2023-2028. The rising demand for naval vessels, rapid military modernization activity, and the integration of artificial intelligence (AI) and machine learning (ML) technologies represent some of the key factors driving the market.
Anti-ship missile defence (ASMD) system refers to a defensive technology designed to protect naval assets from enemy missiles. It is comprised of several components, such as radar, electronic warfare equipment, jammers, decoys, chaffs, flares, guns, and surface-to-air missiles (SAMs). It operates in multiple steps that involves detecting the incoming missile, tracking its trajectory, identifying the threat risk, deploying countermeasures, and destroying the target. ASMD system is widely used on aircraft carriers, destroyers, submarines, frigates, corvettes, littoral combat ships, minehunters, offshore patrol vessels, and amphibious assault ships. It is a cost-effective and highly efficient system that can neutralize multiple incoming missiles simultaneously, provides multi-layered defense, and enhances situational awareness. ASMD system also improves the survivability rate of naval vessels, enhances operational capabilities, increases deterrence, and minimizes the impact of incoming attacks.
Anti-Ship Missile Defence System Market Trends:
The rising demand for naval vessels across the globe is one of the primary factors driving the market growth. ASMD system is widely installed on different locations of a naval vessel to provide comprehensive and all-around protection from incoming enemy missiles, which aids in reducing casualty, minimizing the impact of an attack, and increasing the overall efficiency of the naval operations. In addition to this, the rapid military modernization activity due to the increasing defense budget is acting as another growth-inducing factor. Furthermore, the implementation of various government initiatives to expand and strengthen naval fleets to protect the country’s maritime interests is providing an impetus to the market growth. Additionally, the recent development of directed energy weapon systems, such as high-energy lasers and high-power microwaves that are cost-effective, require low maintenance, and can rapidly engage hypersonic missiles, is positively influencing the market growth. Apart from this, the integration of artificial intelligence (AI) and machine learning (ML) to automate threat detection capabilities and improve the sensitivity, tracking, and response time of the ASMD system is favoring the market growth. Moreover, the introduction of multi-function radars (MFR) that engage multiple targets simultaneously and enhance situational awareness of the system is creating a positive outlook for the market. Other factors, including the significant growth in the defense industry, growing military tensions, the increasing investment in the research and development (R&D) of new ASMD systems, and the rising threat of asymmetric warfare, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global anti-ship missile defence system market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on component, launch platform, and application.
The report has provided a detailed breakup and analysis of the anti-ship missile defence system market based on the component. This includes radar and missile interceptor. According to the report, radar represented the largest segment.
Launch Platform Insights:
A detailed breakup and analysis of the anti-ship missile defence system market based on the launch platform has also been provided in the report. This includes air, surface, and submarine. According to the report, surface accounted for the largest market share.
Ballistic Missiles Defense
Conventional Missile Defense
A detailed breakup and analysis of the anti-ship missile defence system market based on the application has also been provided in the report. This includes ballistic and conventional missile defense. According to the report, ballistic missiles defense accounted for the largest market share.
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for anti-ship missile defence system. Some of the factors driving the Asia Pacific anti-ship missile defence system market included rapid military modernization, increasing government initiatives, and significant technological advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global anti-ship missile defence system market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include BAE Systems plc, Lockheed Martin Corporation, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Saab AB, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global anti-ship missile defence system market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global anti-ship missile defence system market?
What is the impact of each driver, restraint, and opportunity on the global anti-ship missile defence system market?
What are the key regional markets?
Which countries represent the most attractive anti-ship missile defence system market?
What is the breakup of the market based on the component?
Which is the most attractive component in the anti-ship missile defence system market?
What is the breakup of the market based on the launch platform?
Which is the most attractive launch platform in the anti-ship missile defence system market?
What is the breakup of the market based on application?
Which is the most attractive application in the anti-ship missile defence system market?
What is the competitive structure of the global anti-ship missile defence system market?
Who are the key players/companies in the global anti-ship missile defence system market?
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