Europe Missiles and Missile Defense Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Europe Missiles and Missile Defense Systems Market is segmented by Type (Missile Defense Systems, Air-to-Air Missiles, Air-to-Surface Missiles, Surface-to-Surface Missiles, and Surface-to-Air Missiles) and Country.

Market Snapshot

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Study Period: 2018 - 2026
Base Year: 2020
CAGR: >7.5 %

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Market Overview

The European missiles and missile defense systems market is expected to exhibit a growth rate of more than 7.5% during the forecast period (2020 - 2025).

  • The increased defense spending on missile and missile defense systems by European countries is driving the growth of the market. Countries, like Poland and Finland, have increased the budget for the procurement of missile defense systems, such as the Patriot.
  • The market is also witnessing collaborations between various countries for the development of new and technologically advanced missile systems. In 2019, the EU Council gave approval for the development of the TWISTER (Timely Warning And Interception With Space-Based Theater Surveillance) interceptor missile under the Permanent Structured Cooperation (PESCO) initiative. TWISTER will be available for land- and sea-based interception operations from 2030.
  • The rise in naval spending by countries, such as France, the United Kingdom, and Germany, is propelling the market growth for anti-ship missiles. Countries are spending a lot of money on the research and development of hypersonic missiles, which is expected to propel the missile market’s growth in Europe during the forecast period.

Scope of the Report

The report on the European missiles and missile defense systems market covers the latest trends, technological developments, joint strike capabilities, network-centric warfare, etc., that are influencing the market. The report also provides a country-wise analysis of the market.

Type
Missile Defense Systems
Air-to-Air missiles
Air-to-Surface missiles
Surface-to-Surface missiles
Surface-to-Air missiles
Country
United Kingdom
Germany
France
Spain
Italy
Russia
Sweden
Rest of Europe

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Key Market Trends

Increasing Demand for Missile Defense Systems in Europe

European countries are heavily investing in the procurement and development of missile defense systems. Technological advancements and developments in network-centric warfare capabilities are constantly being used for the upgrade of European missile defense shields that provide protection against missile threats to almost the entire geography. European nations are currently focusing on developing integrated air defense systems that can be used from multiple platforms. In 2019, Germany ramped up its collaboration efforts with other countries for the development of short- and medium-range air defense systems known as Taktisches Luftverteidigungssystem (TLVS). Lockheed Martin and MBDA partnered for the TLVS program to develop a system equipped with 360-degree radar, and its hit-to-kill technology provides defense against tactical ballistic missiles, cruise missiles, UAVs, aircraft, and other aerial threats. The Aegis Ballistic Missile Defense System is currently being used by naval forces of Spain, Norway, etc. The system uses SM3, SM2, and SM6 missiles for the interception of ballistic missiles, aircraft, and cruise missiles. It was upgraded with systems, such as Raytheon AN/SPY - 6(V) radars. The Aegis Ashore System, which is a land-based version of the Aegis Combat System, received a significant upgrade in August 2019. The aforementioned factors, instances, and programs are fueling the growth of the missiles and missile defense systems market in the region.

Europe Missiles And Missile Defense Systems Market_type

Russia to Exhibit the Highest Growth Rate

Russia has one of the largest defense budgets in Europe, and the country spends a significant portion of it on the development of missile technology. Its defense modernization efforts and arms race with the United States, China, and other European countries are propelling the growth of the missiles and missile defense systems market in Russia. In December 2019, Russia deployed the Avangard hypersonic missile system, which is capable of carrying 2 megatons of nuclear warheads at a speed of 20-27 Mach. In April 2020, Russia carried out the successful testing of the PL-19 Nudol missile that acts as both an anti-ballistic missile interceptor and an anti-satellite missile. Russia's S-400 air defense missile system is highly efficient than its counterparts’, and increasing orders from countries, such as Iran, India, and Turkey, are generating huge revenue for the Russian missile industry. Russia is also making significant investments in its air superiority capability. In November 2019, Russia displayed an unnamed air-to-air missile at the Vympel design facility in Moscow, which is alleged to be used in new Su-57 fighters. The Russian government is also actively upgrading its missile systems, such as R-73, with active imaging infrared (IIR) seekers to easily tackle countermeasures. Russia is also making significant developments in anti-tank missiles. In 2019, it started trials for 9M133F-1 Kornet anti-tank missiles from BMD-4M airborne assault vehicle. Tula Arms Plant, the manufacturer of Kornet missiles started the serial production of missiles in 2019. The aforementioned factors are propelling the growth of the market in Russia.

Europe Missiles and Missile Defense Systems Market_Russia

Competitive Landscape

The European missiles and missile defense systems market is moderately fragmented. Some of the prominent players in the market are MBDA Missile Systems, Saab AB, Lockheed Martin Corporation, and JSC Tactical Missile Corporation. The market is witnessing a significant investment in research and development, and many missile manufacturers are collaborating and forming joint ventures for sharing technologies and expertise. Key players are generating revenue through the sales of missiles and missile defense systems to national and foreign governments.

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 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Missile Defense Systems

      2. 5.1.2 Air-to-Air missiles

      3. 5.1.3 Air-to-Surface missiles

      4. 5.1.4 Surface-to-Surface missiles

      5. 5.1.5 Surface-to-Air missiles

    2. 5.2 Country

      1. 5.2.1 United Kingdom

      2. 5.2.2 Germany

      3. 5.2.3 France

      4. 5.2.4 Spain

      5. 5.2.5 Italy

      6. 5.2.6 Russia

      7. 5.2.7 Sweden

      8. 5.2.8 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 MBDA Missile Systems

      2. 6.1.2 Raytheon Technologies Corporation

      3. 6.1.3 The Boeing Company

      4. 6.1.4 Lockheed Martin Corporation

      5. 6.1.5 Thales Group

      6. 6.1.6 Saab AB

      7. 6.1.7 BAE Systems PLC

      8. 6.1.8 Kongsberg Gruppen ASA

      9. 6.1.9 Rheinmetall AG

      10. 6.1.10 JSC Tactical Missile Corporation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The Europe Missiles and Missile Defense Systems Market market is studied from 2018 - 2026.

The Europe Missiles and Missile Defense Systems Market is growing at a CAGR of >7.5% over the next 5 years.

Saab AB, Lockheed Martin Corporation, MBDA Missile Systems, Thales Group, Raytheon Technologies Corporation are the major companies operating in Europe Missiles and Missile Defense Systems Market.

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