About the Intercontinental Ballistic Missiles Market
Intercontinental Ballistic Missiles are guided ballistic missiles with a minimum range of 3,400 miles, which are designed for the delivery of one or more nuclear warheads. They have greater range and speed than other ballistic missiles, such as intermediate-range ballistic missiles (IRBMs), medium-range ballistic missiles (MRBMs), and short-range ballistic missiles (SRBMs).
Technavio’s analysts forecast the global ICBM market to grow at a CAGR of 5.8% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global ICBM market for 2016-2020. The report provides a comprehensive overview, market shares and growth opportunities by type (land based and submarine based), and growth prospects by region (the Americas, APAC, and EMEA).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intercontinental Ballistic Missile (ICBM) Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Intercontinental Ballistic Missile Market: BAE Systems, Boeing, General Dynamics, Lockheed Martin, and Northrop Grumman.
Other Prominent Vendors in the market are: China Academy of Launch Vehicle Technology, Orbital ATK, Rafael Advanced Defense Systems, Raytheon, and Rockwell Collins.
Commenting on the report, an analyst from Technavio’s team said: “A new trend in this market is the emergence of smokeless missiles. Chemring Defence, a prominent vendor of the market, signed a contract worth over $40 million, with the MOD to develop a multiple-effect rocket system, MERS, that can fire missiles without emitting any smoke. The advanced missile system does not allow the detection of the origin of missiles, thereby reducing the risks of enemy attacks.”
According to the report, a key driver which is driving market growth is the rise in R& D investments. R&D is a pre-requisite for the development of ICBM systems and maintenance of global competitiveness in the market. Of late, regions like the Americas and Europe have made high investments in R&D and procurement of missile systems for strengthening their border security.
Further, the report states that one challenge that will likely hamper market growth is an increase in defense budget cuts. "
BAE Systems, Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, China Academy of Launch Vehicle Technology, Orbital ATK, Rafael Advanced Defense Systems, Raytheon, Rockwell Collins.