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DUBLIN--(BUSINESS WIRE)--Dec 1, 2022--
The "Missiles and Missile Defense Systems Market Size and Trend Analysis including Segments (Missiles and Missile Defense Systems), Key Programs, Competitive Landscape and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The report covers industry analysis, including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for the missiles and missile defense systems market over the forecast period.
The air defense modernization and advanced precision strike missile procurement programs by key defense spending countries, such as the US, Russia, China, India, Poland, and the UK, are anticipated to drive the demand for missiles and missile defense systems over the next decade. As part of the NATO Readiness Initiative, the majority of NATO countries are also upgrading their missile defense systems.
Furthermore, the Russian invasion of Ukraine is expected to increase interest in the purchase of MMDS over the next decade. Apart from the US and European countries, several emerging military powers, such as India, Australia, and Saudi Arabia in the Asia-Pacific and Middle Eastern regions, have initiated next-generation MMDS procurement programs to modernize their armed forces as part of their overall military capability augmentation initiatives. The disturbances in the geopolitical climate in these regions are also expected to have a key influence on the procurement of such advanced weapons.
The missiles segment is anticipated to be the largest segment in the global missiles and missile defense systems market between 2022 and 2032. Increasing demand for precision strike missiles among armed forces is expected to drive the growth of the missiles segment over the forecast period.
The commissioning of next-generation military platforms such as aircraft, guided missile frigates, destroyers, corvettes, and submarines is also anticipated to create demand for their weapons payloads, including missiles. Furthermore, the increased focus on the integration of long-range conventional land attack capabilities into modern military platforms is also driving spending on new missile categories.
Major defense-spending countries, including the US, Russia, the UK, France, China, and India, are investing heavily in the development of hypersonic missiles to improve their military capabilities. According to Venkatesh K, Defense Analyst at the publisher, 'the need to replenish aging inventories of missiles and replace outdated air defense systems with next-generation missile defense systems that are capable of countering the growing threat of fifth generation combat aircraft and unmanned aerial vehicles (UAVs) is anticipated to be a major factor driving the missiles and missile defense systems market growth over this decade.'
The Asia-Pacific region is expected to dominate the global missiles and missile defense systems market between 2022 and 2032. Territorial disputes and armed standoffs between several countries, such as India-China, India-Pakistan, North Korea-South Korea, and China-Taiwan, are expected to increase the deployment of missiles and associated launch systems in the region.
In addition, the ongoing territorial disputes in the South China Sea region between China and several other sovereign states, such as Brunei, Indonesia, Malaysia, the Philippines, Taiwan, and Vietnam, are also anticipated to drive the regional MMDS market over the forecast period.
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INDUSTRY KEYWORD: GOVERNMENT TECHNOLOGY DEFENSE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/01/2022 05:23 AM/DISC: 12/01/2022 05:23 AM
http://www.businesswire.com/news/home/20221201005556/en