The Business Research Company’s Missile Seekers Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Missile Seekers Global Market Report 2023 evaluates missile seekers market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global missile seekers market size is expected to grow from $4.61 billion in 2022 to $4.96 billion in 2023, at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the missile seekers market size is expected to grow to $6.49 billion in 2027 at a CAGR of 7.0%.
Growing demand for missile defense systems from around the world will drive the missile seekers market going forward. Amid the rising tensions around the world, countries are looking to secure their territories from aerial attack with missile defense systems. Missile defense systems make use of missile seekers to accurately hit the target and destroy the incoming missiles or aircraft. For instance, in December 2021, India signed a $5.4 billion deal to buy Russia’s S-400 missile defense systems. In May 2022, South Korea also approved a $605 million project to upgrade its PAC-2 missile defense system to a PAC-3 system from the USA. Furthermore, in April 2022, USA’s largest weapons maker Lockheed Martin’s chief executive Jim Taiclet said that they were having demand for THAAD and PAC-3 missile defense systems from all over the world. Therefore, the increasing demand for a missile defense system is propelling the missile seekers market forward.
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The missile seekers market segments in the report are:
1) By Missile Type: Cruise Missile, Ballistic Missile, Interceptor Missile, Conventional
2) By Technology: Active Radar, Semi-active Radar, Passive Radar, Infrared, laser, multimode
3) By Launch Mode: Surface-to-Surface, Surface-to-Air, Air-to-Surface, Air-to-Air
The table of contents in TBRC’s missile seekers market report includes:
- Executive Summary
- Missile Seekers Market Characteristics
- Missile Seekers Market Trends And Strategies
- Missile Seekers Market – Macro Economic Scenario
- Missile Seekers Market Size And Growth
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- Africa Missile Seekers Market
- Missile Seekers Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Missile Seekers Market
- Missile Seekers Market Future Outlook and Potential Analysis
- Appendix
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