About Anti-Ship Missiles
Anti-ship missiles are guided missile systems, which are designed to be deployed against combat ships and large naval boats. To counter these missiles, anti-ship missile defense systems come into play. They consist of missile interceptors, close-in weapon systems (CIWS), decoy systems, electronic warfare (EW) equipment, and anti-aircraft guns.
Technavio’s analysts forecast the global anti-ship missile defense system market to grow at a CAGR of 6.56% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global anti-ship missile defense system market for 2016-2020. The report discusses the major drivers influencing market growth and the challenges faced by vendors and the market as a whole. It also examines key emerging trends and their influence on current and future market scenarios.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Anti-Ship Missile Defense System Market 2016-2020
Technavio recognizes the following companies as the key players in the global anti-ship missile defense system market: BAE Systems, General Dynamics, Lockheed Martin, Northrop Grumman, and Raytheon.
Other Prominent Vendors in the market are: Finmeccanica, MBDA, Rafael Advanced Defense Systems, Saab AB, and Thales.
Commenting on the report, an analyst from Technavio’s team said: “Modernization of naval combat systems will be a key trend for market growth. In early 1973, Lockheed Martin developed a centralized, automated, and command-and-control (C2) weapon system known as the Aegis Weapon System (AWS) for the US Navy. It was equipped with the AN/SPY-1 radar, a high-powered and multifunction phased-array radar that can automatically detect and track over 100 targets (static and mobile). Simultaneous operations against multi-mission threats such as anti-air missile defense, anti-surface missile defense, and anti-submarine warfare could be controlled via the computer-based command and decision element of this system.”
According to the report, increasing research and development investments will be a key driver for market growth. R&D is a pre-requisite for the development of anti-ship missile defense systems and the maintenance of global competitiveness in the market. Currently, developed regions like the Americas and Europe are investing heavily in the procurement and development of these systems, fueling the growth of the market.
Further, the report states that cost overruns and test failures are major challenges that many defense organizations are facing currently. Over the last decade, many of the missile defense system development programs were cancelled or delayed due to aforementioned reasons. For instance, in February 2016, the US Navy terminated its advanced anti-ship cruise missile target program due to increasing cost overruns and test failures. This has created an ambiguity in understanding the advanced cruise missile withstanding capabilities of the existing US Navy ships. Such terminations also expose defense contractors to significant risk as these companies also make substantial investments during the tests phases of government funded programs.
BAE Systems, General Dynamics, Lockheed Martin, Northrop Grumman, Raytheon, Finmeccanica, MBDA, Rafael Advanced Defense Systems, Saab AB, Thales.