Missiles and rockets have become an integral part of modern warfare as they provide both precision and lethality to the overall defence arsenal. Missiles are self-guided, propelled and remotely controlled weapons which can hit the targets at long distance. Depending upon their usage in land, navy and airborne attacks, missiles can be segmented into surface-to-surface missiles, surface-to-air missiles, air-to-surface missiles, air-to-air missiles, anti-ship missiles, anti-tank missiles, and missile defence systems. Of these categories, missile defence systems are projected to control the majority of market share because of number of missile programs running in various countries. Further by dimensions, missiles can be segmented into tactical, cruise, ballistic, surface-to-air and anti-ballistic missiles.
Global missile market is highly competitive and majorly driven by factors like cost, quality, technology, dependability and aftermarket services. Major companies operating in the missiles market are: BAE Systems, Denel Dynamics, Lockheed Martin, MBDA and Raytheon.
Geographically, Asia Pacific is the lead spender in missile market, majorly dominated by China, India and South Korea. Missile programs in North America and developed European countries have been affected by governmental budget cuts and many programs have been kept on hold or cancelled. In spite of budget cuts, increasing terrorist & hostility threats and growing number of combat aircrafts by some countries will drive the missile market.
Evolving 3D printing technology to reduce cost and manufacturing time for missiles
3D printing and its use in designing missiles is one of the emerging trends in the missiles market. 3D printing will make the missile development process more cost effective and will also help in developing lightweight missiles with enhanced performance. In addition, many companies are developing advanced laser systems which can counter higher precision weapons like missiles effectively.
ASDReport.com has an extensive collection of reports on missiles market which can fulfil most of your market research requirements. The reports cover both missile combat and defense areas such as, missile defense radar, intercontinental ballistic missile, missile defense systems, smart weapons, military laser systems, and among others.
Source: ASDReports - Market Research
Date: Jun 7, 2016