Global Missile Launching System Market 2017-2021
About Missile Launching System
A missile is a self-propelled precision-guided munition system, which can be referred to as an advanced version of a rocket that can maneuver by itself. It consists of four system components — a targeting and/or missile guidance system, a flight system, an engine, and a warhead. With the evolution of warfare strategies and mechanisms, high-end and sophisticated missiles have been developed, which enable armed forces to launch attacks from fortified positions.
Technavio’s analysts forecast the global missile launching system market to grow at a CAGR of 2.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global missile launching system market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Missile Launching System Market 2017-2021
Technavio recognizes the following companies as the key players in the global missile launching system market: BAE Systems, Lockheed Martin, Larsen & Toubro (L&T), Northrop Grumman, and Raytheon.
Other Prominent Vendors in the market are: ASELSAN, Boeing, DCNS, Harris, and MBDA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is development of multi-mission launchers. Many countries are currently focused on enhancing their defensive and offensive power through the development of multi-mission launchers (MML). These launchers can launch missiles with different capabilities at the same time or one after the other within a short interval of time between consecutive missiles.”
According to the report, one of the major drivers for this market is Increasing territorial conflicts. The prime reason behind the growth of the global missile launching systems market is the increasing territorial disputes across the globe, which have led to investments in missiles and missile systems. Over the past decades, the world has witnessed several land and maritime conflicts among countries, along with an increase in the number of armed conflicts as well. The ISIS conflict, Indo-Pak conflict over Kashmir, the Syrian Civil War, the conflict between Russia and Ukraine over Crimea, the Lebanon conflict, and the conflicts between the US and North Korea are just a few examples. These have led to an increase in demand for short- and long-range defense missiles and missile systems.
Further, the report states that one of the major factors hindering the growth of this market is Development of Small Diameter Bomb (SDB). The Small Diameter Bomb (SDB) system, developed by Boeing, is the next-generation low collateral-damage precision strike weapon. This system has a range of more than 60 nautical miles and offers precision guidance to attack targets. Its compact size and design require low maintenance, offers high performance, and low life cycle cost operation.
BAE Systems, Lockheed Martin, Larsen & Toubro (L&T), Northrop Grumman, Raytheon, ASELSAN, Boeing, DCNS, Harris, and MBDA.
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