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The Ballistic Missile Market is segmented by Launch Mode (Surface-to-surface, Surface-to-air, Air-to-surface, Air-to-air, and Subsea-to-air), Range (Short-range, Medium-range, Intermediate-range, and Intercontinental), and Geography.
2018 - 2026
Fastest Growing Market:
The ballistic missile market is anticipated to record a CAGR of over 6% during the forecast period (2020 - 2025).
The market is segmented by launch mode, range, and geography. By range, ballistic missiles are classified into short-range, medium-range, intermediate-range, and intercontinental.
|Rest of the World|
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The intercontinental segment of the market is expected to record the highest CAGR during the forecast period. Due to their advantages of high accuracy at higher ranges compared to small-, medium-, and intermediate-range missiles, countries are now developing and testing new and advanced intercontinental ballistic missiles, which may drive the growth of this segment during the forecast period. For, instance, Russia tested the Topol MR intercontinental ballistic missile in February 2019. The country had also tested the Sarmat missile intercontinental ballistic missile in March 2018. Additionally, in Asia-Pacific, India successfully test-fired the long-range intercontinental ballistic missile (ICBM), Agni-V, from the eastern coastal state of Odisha. Such intensified developments and testing of new intercontinental ballistic missiles are largely contributing to the growth of the market for ballistic missiles.
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Asia-Pacific is anticipated to record the highest growth during the forecast period. China is investing heavily in ballistic missile-related technologies, to deter incursions into the Chinese territory, by both aircraft and potential long-range strike weapons. Ballistic missile developments in North Korea also act as a key missile procurement driver for Japan and South Korea. The Indian government undertook the Ballistic Missile Defence Program to develop and deploy a multi-layered ballistic missile defense system to protect the country from the increasing ballistic missile threats from China and Pakistan.
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The concentration of players in the ballistic missile market is high. The prominent players in the market are BAE Systems PLC, General Dynamic Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, and DRDO. Government investments in state-owned companies for the development of advanced ballistic missiles are helping the regional players increase their presence in the market. Also, partnerships between players in various fields, like propulsion systems, warhead designs, and body designs, are likely to help companies develop advanced missile systems, as they share technologies with each other.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Launch Mode
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 BAE Systems PLC
6.2.2 General Dynamic Corporation
6.2.3 Lockheed Martin Corporation
6.2.4 Northrop Grumann Corporation
6.2.6 The Boeing Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability