Overview and Scope
The anti-tank missile system comprises a controlled missile system designed to destroy tankers and other armored vehicles in close combat. It combines the advantages of extensive, crew-operated guided missile systems with the simplicity of light anti-armor weapons.
Sizing and Forecast
The anti-tank missile system market size has grown steadily in recent years. It will grow from $2.93 billion in 2023 to $3.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to increasing military expenditures, cold war arms race, vietnam war and modernization, rise of armor-defeating warheads, evolution of man-portable systems.
The anti-tank missile system market size is expected to see steady growth in the next few years. It will grow to $3.6 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to international conflict and tensions, integration of artificial intelligence, rise in urban warfare, development of next-generation threats, enhanced survivability and lethality. Major trends in the forecast period include advancements in targeting technology, innovation in warhead technology, increased range and lethality, miniaturization and portability, integration of fire-and-forget systems.
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Segmentation & Regional Insights
The anti-tank missile system market covered in this report is segmented –
1) By Type: Man-Portable, Vehicle-Mounted
2) By Platform: Airborne, Ground-Based
3) By Application: Defense, Homeland Security, Other Applications
North America was the largest region in the anti-tank missile system market in 2023. The regions covered in the anti-tank missile system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in the number of cross-border conflicts is expected to propel the growth of the anti-tank missile system market in the coming future. Cross-border disputes refer to a debate among nations over where their borders and rights. These conflicts can arise from various issues, such as resources, ethnic or cultural differences, political ideologies, and historical disputes. The increase in cross-border conflicts is expanding the market for anti-tank missile systems, as they are very effective and used to demolish armored vehicles and tanks. For instance, in November 2021, according to the Pew Research Center, a nonpartisan American think tank, encounters with unaccompanied minors grew from 30,557 in fiscal 2020 to 144,834 in fiscal 2021, while encounters with families increased from 52,230 to 451,087. Therefore, increased cross-border conflicts drive the anti-tank missile system market.
Key Industry Players
Major companies operating in the anti-tank missile system market report are Elbit Systems Ltd., General Dynamics Corporation, Denel Dynamics, Lockheed Martin Corporation, MBDA Missile Systems Inc., KBP Instrument Design Bureau, Rafael Advanced Defense Systems Ltd., Raytheon Technologies Corporation, Roketsan A.Ş., BAE Systems, Saab AB, Israeli Military Industries Ltd, Northrop Grumman, EuroSpike GmbH, Thales Group, Bharat Dynamics Limited, Diehl Defence GmbH & Co. KG, Leonardo S.p.A., Nexter Systems, Norinco Group Corporation, Rostec State Corporation, Samsung Techwin Co. Ltd., Korea Aerospace Industries Co. Ltd., Aselsan A.Ş., Otokar Otomotiv ve Savunma Sanayi A.Ş., CZG – Česká zbrojovka Group SE, Nammo AS, Hirtenberger Defence Systems GmbH, Mectron S.p.A., Eurosam S.A.S.
The anti-tank missile system market report table of contents includes:
1. Executive Summary
2. Anti-Tank Missile System Market Characteristics
3. Anti-Tank Missile System Market Trends And Strategies
4. Anti-Tank Missile System Market – Macro Economic Scenario
5. Global Anti-Tank Missile System Market Size and Growth
…
31. Global Anti-Tank Missile System Market Competitive Benchmarking
32. Global Anti-Tank Missile System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Anti-Tank Missile System Market
34. Anti-Tank Missile System Market Future Outlook and Potential Analysis
35. Appendix
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