The Anti-Ship Missile Defence System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Anti-Ship Missile Defence System, The anti-ship missile defence system market size has grown strongly in recent years. It will grow from $12.1 billion in 2023 to $12.79 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to naval warfare evolution, naval arms race, strategic maritime chokepoints, growth in asymmetric threats, military conflict and tensions, military doctrine shifts..
The anti-ship missile defence system market size is expected to see strong growth in the next few years. It will grow to $15.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to rising maritime threats, modernization of naval forces, focus on integrated defense networks, development of hypersonic weapons, geopolitical tensions and territorial disputes.. Major trends in the forecast period include development of counter-hypersonic systems, shift to multi-layered defense, growth in maritime conflicts, integrated defense systems, focus on interception capabilities.
The rise in the number of conflicts throughout the world is expected to propel the growth of the anti-ship missile defense system market going forward. The regional wars, increasing maritime security risks and tensions in contested waterways, necessitate the increased use of ASMD systems on navy vessels. For instance, in July 2021, according to an article published by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), a US-based organization responsible for strengthening the international response to complex emergencies and high-intensity armed confrontations, high-intensity armed confrontations increased significantly in 2020, accounting for 47% of all incidents, or nearly half of them. Therefore, the rise in the number of conflicts throughout the world is driving the growth of the anti-ship missile defense system.
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The anti-ship missile defence system market covered in this report is segmented –
1) By Component: Missile Interceptor, Radar
2) By Launch Platform: Air, Surface, Submarine
3) By Application: Ballistic Missiles Defense, Conventional Missile Defense
Technological advancements are a key trend gaining popularity in the anti-ship missile defense system market. Major companies operating in the anti-ship missile defense system are developing innovative technologies to sustain their position in the market. For instance, in March 2022, Lockheed Martin Corporation, a US-based security and aerospace company will manufacture six next-generation AGM-158C Long-Range Anti-Ship Missiles (LRASM) for the U.S. Air Force. These missiles are for use against high-priority enemy targets such as aircraft carriers, troop transport ships, and guided-missile cruisers. To detect and kill significant targets inside groups of ships at sea, the missile employs a multi-mode sensor suite, weapon data connection, and upgraded digital anti-jam global positioning system (GPS).
The anti-ship missile defence system market report table of contents includes:
1. Executive Summary
2. Anti-Ship Missile Defence System Market Characteristics
3. Anti-Ship Missile Defence System Market Trends And Strategies
4. Anti-Ship Missile Defence System Market – Macro Economic Scenario
5. Global Anti-Ship Missile Defence System Market Size and Growth
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26. South America Anti-Ship Missile Defence System Market
27. Brazil Anti-Ship Missile Defence System Market
28. Middle East Anti-Ship Missile Defence System Market
29. Africa Anti-Ship Missile Defence System Market
30. Anti-Ship Missile Defence System Market Competitive Landscape And Company Profiles
Top Major Players:
- BAE Systems PLC
- General Dynamics Corporation
- Leonardo SpA
- Lockheed Martin Corporation
- MBDA Inc
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