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The Market is Segmented by 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), and Geography.
Fastest Growing Market:
Greater Than 6 %
The ballistic missile market is anticipated to grow at a CAGR of above 6% during the forecast period (2020 - 2025).
The market studied is segmented by launch mode, range, and geography. By range, the ballistic missiles are classified into Short-range, Medium-range, Intermediate-range, and Intercontinental Ballistic Missiles.
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Intercontinental segment of the market is expected to grow at the highest CAGR during the forecast period. Due to their advantages of high accuracy at higher ranges compared to small, medium and intermediate missiles, countries are now developing and test new and advanced ballistic missiles which are driving the growth of this segment during the forecast period. For, instance, Russia tested Topol MR intercontinental-range ballistic missile in February 2019 and Sarmat missile intercontinental ballistic missile in March 2018. Also, in Asia-Pacific, India successfully test-fired a long-range intercontinental ballistic missile (ICBM), Agni-V from the eastern state coast of Odisha. Such intensified development and testing of new intercontinental ballistic missiles is largely contributing to the growth of the market of the ballistic missiles.
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Asia-Pacific is anticipated to have 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. India has undertaken a Ballistic Missile Defence Program to develop and deploy a multi-layered ballistic missile defense system to protect from rising ballistic missile threats from China and Pakistan.
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The market concentration of players in the ballistic missiles market is high. The prominent players in the market are BAE Systems plc, General Dynamic Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, and DRDO. The government investments in the 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 system, warhead design, body design, etc., are likely to help companies develop advanced missile systems, due to the sharing of technology.
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
188.8.131.52 United States
184.108.40.206 United kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Rest of 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