DUBLIN, Sept. 20, 2022 (GLOBE NEWSWIRE) — The Missile Defense System Global Market Report 2022 has been added ResearchAndMarkets.com Offer.
The global missile defense systems market is expected to grow from US$22.43 billion in 2021 to US$23.92 billion in 2022 at a compound annual growth rate (CAGR) of 6.66%. The missile defense systems market is expected to reach $31.32 billion in 2026 at a CAGR of 6.97%.
North America was the largest region in the Missile Defense Systems Market in 2021. The regions covered in Missile Defense Systems market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global increase in defense spending is expected to drive the growth of missile defense systems market over the forecast period. The increase in defense spending is facilitating the implementation of expensive but necessary missile defense system technologies. Advances in weapons and offensive capabilities around the world have created demand for governments to install defense technologies to ward off foreign threats.
For example, according to the Stockholm International Peace Research Institute (SIPRI), total global military spending rose to $1,981 billion in 2020, a 2.6% increase from 2019. The United States is the world’s largest military spender, accounting for 39% of total military spending in 2020. Hence, the global increase in defense spending drove the market.
The increase in developments and increasing use of artificial intelligence is a major trend that is gaining popularity in the missile defense systems market. Artificial intelligence is computer intelligence, or intelligence demonstrated by a machine to perform simple tasks more efficiently, or tasks that could not otherwise be performed. Developments in artificial intelligence are the discovery of knowledge that helps in the development of products using AI or machine learning.
For example, in 2021, Rafael Advanced Defense Systems, an Israel-based company, launched a new long-range maritime and land-based Seabreaker missile that combines artificial intelligence and decision-making algorithms to create a fifth-generation weapon system. The Sea Breaker helps provide accurate shots from distance location up to 300km.
In July 2020, BAE Systems, a UK-based company, acquired Collins Aerospace’s military Global Positioning System (GPS) business for an undisclosed amount. This acquisition is designed to support the technology-based business and bring new discriminatory capabilities to the US Department of Defense. Founded in 2018, Collins Aerospace is a US-based manufacturer of military, defense and commercial aircraft components.
1) By technology: fire control system; weapon system; countermeasure system; command and control system
2) By domain: soil; Air; Marine; place
3) By Range: Short; Middle; Long
4) By threat type: subsonic missiles; supersonic missiles; hypersonic missiles
Main topics covered:
2. Characteristics of missile defense systems market
3. Anti-missile defense systems market trends and strategies
4. Effects of COVID-19 on the missile defense system
5. Missile Defense Systems Market Size and Growth
6. Missile Defense Systems Market Segmentation
7. Regional and country analysis of missile defense systems market
8. Asia-Pacific Anti-missile Defense Systems Market
9. Missile Defense Systems Market in China
10. Indian missile defense systems market
11. Japanese missile defense systems market
12. Australian missile defense systems market
13. Indonesian missile defense systems market
14. Missile Defense Systems Market in South Korea
15. Missile defense systems market in Western Europe
16. British missile defense systems market
17. Missile defense systems market in Germany
18. Missile defense systems market in France
19. Anti-missile systems market in Eastern Europe
20. Missile defense systems market in Russia
21. Missile Defense Systems Market in North America
22. Missile defense systems market in USA
23. Missile Defense Systems Market in South America
24. Missile defense systems market in Brazil
25. Middle East Missile Defense Systems Market
26. African missile defense systems market
27. Missile Defense Systems Market Competitive Landscape and Company Profiles
28. Major mergers and acquisitions in the missile defense systems market
29. Anti-missile defense systems market future outlook and potential analysis
- BAE systems
- General dynamics
- Lockheed Martin
- Northrop Grumman
For more information about this report, visit https://www.researchandmarkets.com/r/umzjrl