Global Missile Market 2015-2019
Missiles are self-guided, remotely controlled, and propelled weapons that can be used for naval, ground, and airborne strikes. They have the ability to accurately locate and hit the targets, which are thousands of miles away from the origin of the missile. They are segmented into four platforms: surface-to-surface, air-to-surface, surface-to-air, and air-to-air missiles. These are used for airborne, land-based, and naval strikes.
Technavio's analysts forecast the global missile market to grow at a CAGR of 3.05% over the period 2014-2019.
Covered in this report
The report provides a comprehensive overview of the market shares, market segmentation by platform, and growth prospects by region (the Americas, APAC, and EMEA). It also presents the market landscape and a corresponding analysis of the major vendors in the market.
Technavio's report, Global Missile Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report discusses the primary drivers influencing the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends emerging in the market.
Technavio Announces the Publication of its Research Report – Global Missile Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Missile Market: BAE Systems, Denel Dynamics, Lockheed Martin, MBDA and Raytheon
Other Prominent Vendors in the market are: Boeing, Northrop Grumman, Rafael Advanced Defense Systems, Sagem and Thales
Commenting on the report, an analyst from Technavio’s team said: “One of the latest developments in the market is 3D printing. It helps in building military aircraft parts and missiles, offers design freedom, and helps lower production costs and time. Recently, the US Army Aviation and Missile Research Development and Engineering Center (AMRDEC) and NASA’s Marshall Space Flight Center have invested in the R&D of missiles through 3D printing. This technology has resulted in cost-saving measures, weight reduction of missiles, and optimized performance of missile structures.”
According to the report, many countries are developing and upgrading their defense units by manufacturing or importing advanced combat aircraft and helicopters. An increase in the number of these military aircraft will simultaneously boost the development of missile systems.
Further, the report states that the ongoing missile programs have been severely affected by budget cuts and sequestration in developed regions such as the US and Europe since 2011. This has an impact on the production and procurement of spare parts and accessories for missile systems.
BAE Systems, Denel Dynamics, Lockheed Martin, MBDA, Raytheon, Boeing, Northrop Grumman, Rafael Advanced Defense Systems, Sagem, Thales