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Missiles and Missile Defense Systems Market Size and Trend Analysis by Segments, Key Programs, Competitive Landscape and Forecast, 2021-2031

The global missiles and missile defense systems (MMDS) market is valued at $37 billion in 2021 and is projected to grow at a CAGR of more than 3% by 2031. Asia-Pacific represented the largest region for the global missiles and missile defense systems market in 2021, followed by North America and Europe. 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 in modern military platforms is also driving spending on new missile categories. For instance, the Indian Navy’s Project-75I program involves the procurement of six conventional submarines equipped with a vertical launching system (VLS) capable of firing land attack and anti-ship missiles.

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 region, have initiated next-generation MMDS procurement programs to modernize their armed forces as part of their overall military capability augmentation initiatives. An increasing number of territorial disputes among the major military powers is also expected to have a key influence on the procurement of such advanced weapons. For instance, the border issue between India and China is a major factor accelerating multiple missile procurement programs on both sides.

Global missiles and missile defense systems market overview

Global missiles and missile defense systems market overview

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What are the market dynamics for the global missiles and missile defense systems market?

The US withdrawing from the 1987 Intermediate-Range Nuclear Forces (INF) Treaty with Russia and the Joint Comprehensive Plan of Action (JCPOA) with Iran, is expected to trigger demand for the development and deployment of advanced conventional and strategic missiles. Apart from these, the New Strategic Arms Reduction Treaty (New START), which required the US and Russia to reduce the number of strategic nuclear missile launchers is also expected to expire in 2026. The US’s withdrawal from the INF treaty will also lead to the development of advanced cruise missiles, hypersonic glide vehicles (HGVs), and ballistic missiles by both countries.

Over the last decade, a large number of countries have directed their efforts on the R&D and procurement of advanced next-generation conventional land attack and anti-ship missiles, featuring low radar cross-section (RCS) and reduced infrared (IR) signatures. These missiles incorporate multiple technologies, such as exhaust cooling and shaping, radar-absorbent materials, infrared shielding, enhanced heat dissipation, and active signature cancellation, among others, to enhance stealth and reduce their IR signature. This makes the missiles difficult to detect and track by enemy’s radar and electro-optical and infrared (EO/IR) sensors. The low observable (LO) missiles enable armed forces to attack ground targets, with a reduced risk of being engaged by enemy defenses.

Owing to its numerous advantages, active electronically scanned array (ASEA) technology is extensively used as the primary sensor for combat aircraft. The AESA sensors aid in the detection of long-range and low observable targets, while also providing enhanced resistance to countermeasures. Jamming the AESA seekers is more challenging due to the inherent flexibility of AESA technology to quickly adjust its operating frequency.

What are the segments in the global missiles and missile defense systems market?

The global missiles and missile defense systems market can be classified into two segments, namely, missiles and missile defense. Between 2021 and 2031, North America is anticipated to account for the largest share of the missiles segment, followed by the Asia-Pacific and Europe.

In the Asia-Pacific region, the key missile procurement programs in countries such as India, Taiwan, Australia, and Japan are responsible for the segment’s growth. In December 2020, Taiwan announced its plans to procure 300 Patriot Advanced Capability 3 (PAC 3) missile systems worth $ 6 billion from the US. Throughout 2021-2031, the US will contribute most of the spending in the North American missiles market. The investment over the forecast period, owing to the advantages associated with SSNs compared to conventionally powered submarines.

Asia-Pacific is expected to lead the missile defense systems segment over 2021-2031. In the Asia-Pacific region, the ongoing MDS acquisitions programs in countries such as China, India, and Australia are responsible for the segment’s growth. Over the forecast period, the MDS segment’s growth in India will be driven by the procurement of the S-400 medium-range surface to air missile (MR-SAM) system, and the vertically launched short-range surface to air missile (VL-SRSAM).

Global missiles and missile defense systems market, by product

Global missiles and missile defense systems market, by product

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What are the top regions for the global missiles and missile defense systems market?

China accounts for the largest market for MMDS in the Asia-Pacific region. China’s dominance in regional spending is attributed to its intention to bridge its military capability gap with the US and maintain its hegemony in the Asia-Pacific region. India is the second-largest spender in the regional MMDS market owing to its volatile relationship with neighboring countries Pakistan and China. The country’s indigenous development of advanced MMDS projects includes the Indian Ballistic Missile Defense Program (IBMDP) Agni, BrahMos, Nirbhay, and Akash.

The US is expected to spend substantial resources on the deployment of multi-tiered missile defense systems to counter the emerging threat of low observable, supersonic, and hypersonic missiles. The missiles segment is expected to be the leading segment in North America followed by the missile defense systems segment. Russia accounts for the largest share of the MMDS market in the European region. The remaining share is anticipated to be held by the other top spenders, namely Poland, the UK, and Germany, over the forecast period.

Global missiles and missile defense systems market, by region

Global missiles and missile defense systems market, by region

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What are the major trends in global missiles and missile defense systems market?

Between 2021 and 2031, the missiles segment is anticipated to hold the highest share of the MMDS market in the US. The missiles segment is also expected to be the fastest-growing segment in the country during 2021-2031. The anti-air missiles sub-segment is expected to account for the largest share in the country’s overall missile procurement, followed by conventional land-attack missiles and strategic land-attack missiles. The Chinese market will be dominated by the missile defense systems segment. The missiles segment is anticipated to be the fastest-growing segment in China over the forecast period. Platform-based MDS is the largest sub-segment, in Russia’s spending on the missile defense systems segment. The strategic land-attack missiles sub-segment is expected to account for the largest share of Russia’s overall missile procurement, followed by the anti-ship missile and anti-air missile sub-segments.

Key programs initiated in the sector

Ground-based strategic deterrent (GBSD)

The Ground-Based Strategic Deterrent (GBSD) is intended to replace the aging LGM 30 Minuteman III ICBM. The GBSD is an Air Force program that aims to modernize the country’s aging ICBM force, which serves as the land leg of the US’s nuclear deterrent.

Next-generation interceptor program

Northrop Grumman and Lockheed Martin were awarded contracts totaling more than $7 billion by the US Department of Defense in March 2021 to develop technology for the Next Generation Interceptor, which will replace aging ground-based interceptors and serve as the first line of defense against intercontinental ballistic missiles aimed at the US. 

S 400 Triumf

Russia’s S-400 Triumf is a mobile surface-to-air missile system (SAM). It can engage aircraft, unmanned aerial vehicles (cruise missiles, and terminal ballistic missiles). 

S 500 Prometey

The S-500 Prometheus is a mobile surface-to-air missile system (SAM) that is anticipated to replace the present A-135 anti-ballistic missile system deployed around Moscow, as well as enhance the Russian Aerospace Forces’ long-range S-400 Triumf SAM system.

MIM 104 Patriot

In 2018, Poland secured a contract with the US government to purchase Patriot batteries worth more than $4 billion as part of the Phase 1 Wisla Programme. Raytheon’s two Patriot batteries will be delivered under the terms of the agreement in 2022. In phase two, Poland will receive six more Patriot batteries, a 360-degree Active Electronically Scanning Array Radar, and the SkyCeptor, a low-cost interceptor missile.

Who are the key players in the global missiles and missile defense systems market?

Key players in the global missiles and missile defense systems market include Raytheon Technologies Corp, Almaz-Antey, Lockheed Martin, Northrop Grumman, MBDA, Bharat Dynamics, Rostec, Boeing, Kongsberg, and Israel Aerospace Industries.

Global missiles and missile defense systems market, by key companies

 

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Market report scope

Market size (Year –-2021) $37 billion
Growth rate CAGR of >3% from 2022 to 2031
Base year for estimation 2021
Product segmentation Missiles and Missiles Defense System
Regional coverage North America, Europe, Asia-Pacific, Middle East, and others
Forecast period 2022-2031
Key companies Raytheon Technologies Corp, Almaz-Antey, Lockheed Martin, Northrop Grumman, MBDA, Bharat Dynamics, Rostec, Boeing, Kongsberg, and Israel Aerospace Industries

 In particular, the report provides an in-depth analysis of the following:

  • Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
  • Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing missiles and missile defense systems projects being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
  • Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
  • Major programs: details of the key programs in each segment, which are expected to be executed during 2021-2031.
  • Competitive landscape and strategic insights: analysis of the competitive landscape of the global missiles and missile defense systems market. It provides an overview of key players, their strategic initiatives, and financial analysis.

Reasons to Buy

  • Determine prospective investment areas based on a detailed trend analysis of the global artillery systems over the next ten years
  • Gain an in-depth understanding of the underlying factors driving demand for different artillery systems segments in the top spending countries across the world and identify the opportunities offered by each of them
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
  • Identify the major channels that are driving the global artillery systems market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global artillery systems market
  • Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top artillery systems providers around the world. The company profiles also include information about the key products, alliances, recent contract awarded, and financial analysis, wherever available

Key Players

Raytheon Technologies Corp

Almaz-Antey

Lockheed Martin

Northrop Grumman

MBDA

Bharat Dynamics Limited

Rostec Corp

Boeing

Kongsberg

Thales Group

BrahMos Aerospace Limited

China Aerospace Science and Industry Corporation (CASIC)

Eurospike GmbH

Israel Aerospace Industries (IAI)

Table of Contents

Table of Contents

Executive Summary

Global Missiles and Missile Defense Systems Market Overview

Market Dynamics

Global Missiles and Missile Defense Systems Market Segment Analysis

Global Missiles and Missile Defense Systems Market Regional Analysis

Global Missiles and Missile Defense Systems Market Trend Analysis

Key Programs Analysis

Competitive Landscape Analysis

Frequently Asked Questions

The global missiles and missile defense systems market size was estimated at $37 billion in 2021.

 

 

 

 

The global missiles and missile defense systems market is expected to grow at a compound annual growth rate of more than 3% from 2022 to 2031.

Asia-Pacific represented the largest region for the global missiles and missile defense systems market in 2021, followed by North America and Europe.

Key players in the global missiles and missile defense systems market are Raytheon Technologies Corp, Almaz-Antey, Lockheed Martin, Northrop Grumman, MBDA, Bharat Dynamics, Rostec, Boeing, Kongsberg, and Israel Aerospace Industries.

The high-potential countries for the global missiles and missile defense systems market are China, India, Australia, the US, Russia, Poland, the UK, Saudi Arabia, Israel, Egypt, and Brazil.

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