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Ballistic Missile Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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.

Home Industry Reports Aerospace & Defense Ballistic Missile Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 ...

Market Snapshot

ballistic missile market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >6 %

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Market Overview

The ballistic missile market is anticipated to record a CAGR of over 6% during the forecast period (2020 - 2025).

  • The increasing GDP and the consequent growth in the defense spending of countries across the world are expected to result in a surge in investments for the development and procurement of ballistic missiles during the forecast period.
  • The increasing national security concerns and border threats may drive the demand in the ballistic missile market during the forecast period.
  • The development of nuclear ballistic missiles by the major military superpowers is expected generate huge demand for ballistic missiles in the future.

Scope of the Report

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.

  • Short-range ballistic missiles are missiles that have a range between about 150 km and 300 km.
  • Medium-range ballistic missiles have a range between about 300 km and 3,500 km.
  • Intermediate-range ballistic missiles have a range between about 3,500 km and 5,500 km.
  • Intercontinental ballistic missiles have a range greater than 5,500 km.
Launch Mode
Surface-to-surface
Surface-to-air
Air-to-surface
Air-to-air
Subsea-to-air
Range
Short-range
Medium-range
Intermediate-range
Intercontinental
Geography
North America
United States
Canada
Europe
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
China
India
South Korea
Rest of Asia-Pacific
Rest of the World

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Key Market Trends

Intercontinental Segment is Projected to Witness the Highest Growth During the Forecast Period

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.

Ballistic Missile Market_Range

Asia-Pacific is Projected to Record the Highest Growth During the Forecast Period

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.

Ballistic Missile Market_Geography

Competitive Landscape

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.

ballistic missile market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Launch Mode

      1. 5.1.1 Surface-to-surface

      2. 5.1.2 Surface-to-air

      3. 5.1.3 Air-to-surface

      4. 5.1.4 Air-to-air

      5. 5.1.5 Subsea-to-air

    2. 5.2 Range

      1. 5.2.1 Short-range

      2. 5.2.2 Medium-range

      3. 5.2.3 Intermediate-range

      4. 5.2.4 Intercontinental

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 France

        3. 5.3.2.3 Russia

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 South Korea

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 BAE Systems PLC

      2. 6.2.2 General Dynamic Corporation

      3. 6.2.3 Lockheed Martin Corporation

      4. 6.2.4 Northrop Grumann Corporation

      5. 6.2.5 DRDO

      6. 6.2.6 The Boeing Company

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Ballistic Missile Market market is studied from 2018 - 2026.

The Ballistic Missile Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

BAE Systems PLC, General Dynamic Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, DRDO are the major companies operating in Ballistic Missile Market.

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