Global Missile Defense System Market Size, Share & Forecast Analysis to 2030
Global Missile Defense System Market Size & Insights
The Missile Defense System Market size is valued at USD 27.81 billion in 2024 and is projected to reach USD 33.60 billion in 2030. Along with this, the market is estimated to grow at a CAGR of around 4.1% during the forecast period. The growth in the market is induced by the rising geopolitical tensions and regional conflicts that act as the primary drivers, where nations are attempting to enhance their defense capabilities against possible missile attacks.
What are the Key DROs in the Global Missile Defense System Market??
Rising Government Initiatives and Defense Budgets Surging Missile Defense Systems Demand– Governments all over the world are providing large amounts of defense budgets to power and strengthen their defense sector. With increasing geopolitical tensions and warfare situations, countries such as the US, India, China, Japan, etc., have been effectively focused on surging their defense sector. Moreover, national security concerns have been leading government bodies to adopt various defense systems which are leading military operations to purchase new, advanced, and efficient war supplies. This has drastically increased the defense spending focusing on developing and fielding complex missile defenses. For Instance,
In 2023, India spent around USD83.6 billion in its defense budget to modernize a range of weapons and combat systems.
Further, developed countries, like the U.S., have allocated a sizable amount of their defense budget to their different missile defense programs, like the Ground-based Midcourse Defense system and the Aegis Ballistic Missile Defense program.
What are the Key Segments in the Global Missile Defense System Market?
The Missile Defense System Market is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Component
Weapon System- Market Size & Forecast 2020-2030, USD Million
Turret System- Market Size & Forecast 2020-2030, USD Million
Missile Launcher- Market Size & Forecast 2020-2030, USD Million
Fire Control System- Market Size & Forecast 2020-2030, USD Million
Radar Systems- Market Size & Forecast 2020-2030, USD Million
Command & Control System- Market Size & Forecast 2020-2030, USD Million
Others (Combat System, Early Warning System, etc.)- Market Size & Forecast 2020-2030, USD Million
By Platform
Airborne- Market Size & Forecast 2020-2030, USD Million
Land- Market Size & Forecast 2020-2030, USD Million
Naval- Market Size & Forecast 2020-2030, USD Million
Based on the platform, the land segment holds a substantial market share of the global market.
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By Range
Short Range- Market Size & Forecast 2020-2030, USD Million
Medium Range- Market Size & Forecast 2020-2030, USD Million
Long Range- Market Size & Forecast 2020-2030, USD Million
By Threat Type
Subsonic Missile- Market Size & Forecast 2020-2030, USD Million
Supersonic Missile- Market Size & Forecast 2020-2030, USD Million
Hypersonic Missile- Market Size & Forecast 2020-2030, USD Million
How does geographical analysis highlight in the Global Missile Defense System market?
By Region
North America
South America
Europe
The Middle East & Africa
Asia-Pacific
Of them all, North America is anticipated to dominate the market with the largest market share during the forecast period.
Who are the Key Players in Global Missile Defense System Market?
BAE Systems
Leonardo S.p.A.
Saab AB
Israel Aerospace Industries Limited (IAI)
Lockheed Martin Corporation
Rheinmetall AG
Thales Group
Raytheon Technologies Corporation
MBDA Inc.
Northrop Grumman Corporation
ASELSAN A.Ş.
Kongsberg Defence & Aerospace
Leidos
Rafael Advanced Defense Systems
China Aerospace Science and Technology Corporation
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Global Missile Defense System Market News
In 2024: Raytheon was awarded around USD478 million contract from the NATO Support and Procurement Agency (NSPA) to supply additional GEM-T missiles to Germany.
In 2023: Leonardo S.p.A. launched new defence systems called the LIONFISH® 30 and the HITFIST® 30 UL for naval platforms and land vehicles.
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