Market Size of Europe Missiles And Missile Defense Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.79 Billion |
| Market Size (2029) | USD 4.83 Billion |
| CAGR (2024 - 2029) | 4.94 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Missiles & Missile Defense Systems Market Analysis
The Europe Missiles And Missile Defense Systems Market size is estimated at USD 3.79 billion in 2024, and is expected to reach USD 4.83 billion by 2029, growing at a CAGR of 4.94% during the forecast period (2024-2029).
- The Russia-Ukraine conflict altered the European defense landscape. Thus, European Union (EU) and North Atlantic Treaty Organization (NATO) member states acted collaboratively and aggressively to defend political and defense interests. A progressive and strategic increase in the European defense budget and the launch of infantry support projects are expected to create demand for sophisticated new-generation missiles with advanced capabilities, thereby driving the market in focus during the forecast period.
- However, the supply chain disruptions have deleteriously affected the sourcing of critical components and materials for the design, development, and manufacturing of sophisticated missiles and missile defense systems. Furthermore, the market is also affected by the long R&D cycle and cost-intensive nature of the defense industry, which exposes market players to economic fluctuations.
