Global Anti-Ship Missile Defence System Market Information Report, By Component (Missile Interceptor and Radar), By Application (Ballistic Missiles Defense and Conventional Missile Defense) and By Region – Forecast To 2023
Anti-Ship Missile Defence System Market Scenario:
Owing to the growing possibilities of attacks through sea routes and increasing investments in enhancing naval capabilities by many hostile countries, it has become increasingly important to establish an enhanced deterrent that can combat maritime threats. Many countries are in the process of augmenting their maritime border security capabilities to ensure that illegal and hostile infiltration does not take place in their territories. At the same time, major defense contractors are enhancing the existing anti-ship missile defense systems to cater to global defense and security needs. For example, Raytheon has been providing SeaRAM since 1980. In recent years, the company secured multiple contracts for enhancing the capability of such defense systems.
In addition, the economic crisis in some major European countries (such as the UK, Spain, Portugal, Greece, Ireland, and Cyprus) in 2015, would limit the development, maintenance, upgrading, and procurement of anti-ship missile defense systems, which is a major concern in the market.
The emergence of advanced naval defense technologies has changed the defense industry. Due to the global proliferation of progressively sophisticated arms, an imperative need to reassess the current approach to naval fleet operations has emerged. To address this need, anti-ship missile defense systems have come into existence.
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As per MRFR analysis, the global anti-ship missile defence system market was valued at USD 9,014.2 million in 2016, which is expected to reach USD 13,984 million by 2023 with a CAGR 6.65% during the forecast period 2017-2023.
GLOBAL ANTI-SHIP MISSILE DEFENCE SYSTEM MARKET SIZE, BY REGION, 2016-2023, (USD MILLION)
Anti-Ship Missile Defence System Market Segments:
The global anti-ship missile defense system has been segmented on the basis of component, application and region.
On the basis of components, the market has been segmented as missile interceptor and radar. Radar has accounted the highest market share of 70.67% in 2016, followed by missile interceptor. On the basis of applications, the market has been segmented as Ballistic missiles defense and Conventional Missile Defense, where, Ballistic missiles defense segment accounted for the largest share of 55.88% in the global Anti-Ship Missile Defense System market in 2016.
It is expected that the market for Anti-Ship Missile Defence System in APAC would grow at a CAGR of 4.60%, during the forecast period.
Anti-Ship Missile Defence System Market Key Players:
The major players operating in global anti-ship missile defence system market, who have adopted the strategies such as geographic expansion, mergers, and acquisitions are Lockheed Martin, Leonardo S.p.A, Raytheon, General Dynamics, Rafael Advanced Defense Systems, Saab Group, Northrop Grumman, Thales Group, MBDA and BAE Systems.
Table of Content:
1. Executive Summary
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 Assumptions 14
2.4 Key Takeaways 15
2.5 Key Buying Criteria 15
2.6 Market Structure 16
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